Finland’s Commercial Quantum Ecosystem: 4 Companies Making Things Happen

Unique Opportunity

It wasn’t that long ago that The Finnish Ministry of Economic Affairs started funding an innovation project for VTT Technical Research Centre of Finland. The project was set up to build the Nordic country’s first-ever quantum computer. To help in the task, VTT asked the startup IQM (described below), to become involved in the project. Beginning at the end of 2020, the project will continue until 2024.

The project is clear proof of where Finland is as a country as far as deep tech innovation goes, and the four companies listed, vanguards for future developments in quantum tech, should be proud of this.

Before we highlight the four startups, I’ll leave some essential words to Himadri Majumdar, Programme Manager for the Quantum Initiative at VTT:

“When it comes to quantum technology, Finland has one of those unique opportunities where a small country has a whole value chain in place. Other countries also have strong ecosystems in quantum technologies, but in almost all cases they are working on many different topics and many different platforms. Finnish researchers focus almost exclusively on the superconducting qubit approach, which they have been using for years and know very well.”

That explains everything really — let’s have a look at the four now that are models for Majumdar’s declaration:

1. Algorithmiq


Based in Turku, Algorithmiq was founded in 2020 and uses quantum algorithms to solve problems in data science and the life sciences by combining expertise in quantum information, complex systems and computational physics to build algorithms that run on near-term quantum devices.

The startup’s cofounders are Sabrina Maniscalco, Guillermo García-Pérez, Matteo Rossi, and Boris Sokolov.

2. Qubit Value


Based in Helsinki, Qubit Value is a Quantum Computing consulting company, founded in 2020 by Immo Salo, a serial entrepreneur who has focused on the digital revolution since 2006. Salo has written several non-fiction books on artificial intelligence, big data, cloud services, and analytics. He brings this expertise into the realm of Quantum Computing, Machine Learning, Quantum AI, Cloud Services, and Business Technology.

3. IQM

Founded in 2018 by Jan Goetz, Juha Vartiainen, Kuan Yen Tan, and Mikko Möttönen as a spinoff of the Quantum Computing and Devices research group of Aalto University, IQM is based in Espoo. With an aim to develop QC hardware utilizing superconducting qubits for a universal general-purpose quantum computer, IQM is one of the more high-profile startups on the list.

4. Unitary Zero Space

Finnish player Unitary Zero Space, a Helsinki-based company, was founded in 2020 by Topias Uotila and is a QC consultancy firm that has set out to build capabilities in QC through education while securing its industry from the challenges of quantum technologies, building on its expertise in the cybersecurity sphere, in particular.

The Quantum Insider (TQI)


All the data for this article has been taken from The Quantum Insider’s very own data platform. The Quantum Insider collects and structures global data on quantum technologies and delivers this in a user-friendly platform.

Our platform helps investors, startups, corporations, accelerators, policy makers and governments gain a holistic overview of the quantum technology landscape.

James Dargan
James Dargan
James Dargan is a contributor at The Quantum Daily. His focus is on the QC startup ecosystem and he writes articles on the space that have a tone accessible to the average reader

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