Quantum Computer Shutters doors While Another Breaks New Ground
Nordic Quantum computing Group (NQCG) has disbanded, citing Norway’s lack of a quantum strategy, skilled talent pool, and burdensome tax policies as the driving forces behind its demise.
Founded in 2000, the group was Europe’s first quantum computing startup and Norway’s sole entity dedicated to developing a scalable quantum computer.
NQCG pointed to several factors contributing to its closure: the absence of a national quantum technology strategy, a shortage of specialized professionals, and both ownership and exit taxes they deemed detrimental.
Furthermore, NQCG stated that increasing ownership taxes and a newly introduced retroactive exit tax would disproportionately impact tech startups.they maintained that Norway’s wealth tax discourages entrepreneurs from building globally competitive ventures.
In a release, NQCG stated: "despite its pioneering role, the confluence of escalating taxes and specific government policies made continued operations a significant challenge. NQCG’s closure underscores the crucial role of stable, progressive policies in fostering growth within emerging sectors like quantum computing."
adding to the impact, the company concluded its operations on December 6, 2024, marking the end of 25 years of innovation.
Global Quantum Computing news
IQM to Power german Materials Science: German Aerospace Center’s DLR Quantum Computing Initiative has tapped IQM Quantum Computers to develop quantum embedding algorithms. Thes algorithms will be tested on IQM Resonance,a cloud-based quantum platform,and aim to advance materials science simulations.
UK-Japan Collaboration: British quantum computing firm Orca has partnered wiht Japanese startup Jij to strengthen quantum collaboration. this strategic alliance will see Jij develop algorithms for logistics,energy supply,and demand planning,leveraging Orca’s photonic quantum computers.
IonQ Reaches for the Swiss Alps: IonQ deployed its Forte Enterprise quantum computer, its first in Europe, to its innovation center in Arlesheim, Switzerland. This marks the first data center-ready quantum computer IonQ has launched outside of the United States.
- SDT Eyes IPO: Korean quantum technology firm SDT raised $14.11 million in a pre-IPO funding round. Funds will be used to establish Korea’s first commercial quantum computer manufacturing facility and a cloud-based quantum computing data center.
China Unveils Record-Breaking Chip: China announced the Tianyan-504, a 504-qubit quantum computer, claiming it rivals IBM’s systems. China Telecom’s subsidiary,CTQG,led the project,with plans to integrate Tianyan-504 into China’s quantum cloud platform.
- Australia’s Diamond Road: The National Reconstruction Fund Corporation (NRFC) invested $8.3 million in Quantum Brilliance, an Australian diamond technology company. The funding will build Australia’s first diamond quantum foundry for mass production of quantum devices and support a research hub focused on this technology.