Global Connections Can Strengthen Denmark’s Position within Quantum Technology

Unlike a traditional computer, this is possible since a quantum computer processes and stores information through qubits rather than bits. Unlike bits that can only have two values, one and zero, qubits can reach a special quantum state where they in principle can have any conceivable value, which allows the quantum computer to quickly search a vast number of outcomes and optimal solutions to solve complex questions.

This can, among others, be used for the development of new medical drugs, where quantum computers will be able to simulate molecular behaviour faster and more accurately, or in finance, where quantum computers can help optimise investment portfolios, predict market trends and improve risk management.

Furthermore, the quantum computer is expected to have a major impact on the development of climate-friendly technologies, such as the production of C02-free cement, improving electric vehicle batteries, and reducing the cost of producing hydrogen and ammonia for fertilisers.

However, that remains in the future. The first fully functional quantum computer has yet to see the light of day.

Danish Research is at the Forefront

Quantum technology is a high strategic priority for the Danish government, and Denmark also has a strong global position within quantum researchdriven by the Niels Bohr Institute at the University of Copenhagen (UCPH) and the Technical University of Denmark (DTU).

Simultaneously, we are seeing more and more private initiatives - such as the Novo Nordisk Foundation, who recently invested DKK 1.5 billion to develop Denmark's first fully functional quantum computer by 2034 in collaboration with UCPH.

But in order to take a global leadership position in the field, there is a need for further development of the technologies through global collaborations. For Danish quantum researchers, it is highly relevant to collaborate with fellow industry experts in Silicon Valley.

Commercialisation Lags Behind

Despite Denmark's high level of research, the commercialisation of research, development of new quantum startups, and scaling of existing quantum companies is lagging behind.

There are only few quantum startups in Denmark, such as MQS, Sparrow Quantum and Kvantify. QDevil, was sold to American-Israeli Quantum Machines last year.

At the same time, it is difficult for new and existing Danish quantum startups to find the significant funding required to develop the technology. In the long run, this could influence Denmark's prospects of attaining a leading position in the quantum race.

Therefore, it is highly relevant to look towards the United States, and Silicon Valley, which houses both some of the world's most well-funded quantum startups as well as corporates such as Google, Honeywell and IBM who are leading the way in the development of quantum computers.

From Research to Practice in Silicon Valley

Today, the U.S. accounts for 60 percent of the world's global investment in quantum technology as well as 40 percent of all quantum startups.

The highest funded startups are located in Silicon Valley, including PsiQuantum. The company was founded in 2016 by four researchers and has since its inception raised an impressive DKK 5 billion in venture capital, making it the most funded quantum startup in the world.

PsiQuantums has one goal: to develop a quantum computer that can outperform every supercomputer in the world. To realise this goal, they are employing every possible measure to construct a quantum computer with one million qubits.

PsiQuantum is reluctant to announce when this goal is expected to be achieved, but they inform that they are already working with a large number of Fortune 500 companies in areas such as finance, transportation and healthcare, who all are striving to understand how to program and utilize quantum computers.

Naturally, the development of the quantum computer is simply not enough. Continuous development and evaluation of the algorithms is required to realise its potential and create real use cases in applications such as material design and the development of pharmaceuticals or lithium-ion batteries.

Quantum Encryption

Another Silicon Valley-based startup is Sandbox AQ, a spinoff of Google's Alphabet, who recently have raised around DKK 3.5 billion in investments.

Sandbox AQ combines artificial intelligence and quantum technology to scan companies' software in order to secure the encryption against quantum computers.

Already today, there is a fear that once the quantum computer materialises, the data that is currently encrypted and unreadable, can be deciphered by hackers.

Sandbox AQ is part of the U.S. government's 'Migration to Post-Quantum Cryptography' project with partners such as Amazon Web Services, Cisco and Microsoft, and also working with the U.S. Air Force to develop the technology.

Nevertheless, it is not solely startups that are developing quantum computers and the algorithms and software for them. Microsoft and IBM both have labs in several countries. Google recently announced that they have reached a significant milestone in the development of quantum computing, as they have shown the ability to lower the high error rate in calculations that currently plagues the technology.

The exact timeframe for the realization of the first fully functional quantum computer, be it in 5, 10, 15, or more years, remains uncertain. However, once achieved, quantum technology has the potential to emerge as a transformative solution for the world's most urgent challenges, spanning crucial domains such as green transition, health, and defense.