(VentureBeat) Dr. Jan Goetz, CEO and cofounder of Finland’s IQM Quantum Computers, said Europe’s strong research sector is creating a wealth of quantum technology talent that is attractive to investors. While the region has struggled to take the lead in new technologies, Goetz argues that the science and research needed to power quantum breakthroughs plays to Europe’s strengths. While China and the U.S. are making big investments, the founder of a Finland-based quantum startup is convinced Europe can compete with both giants.
Goetz said. “And as this field is now emerging from the academic sector into the commercial sector, the money goes to the best research teams in the world. And Europe really has the world’s leading research teams.” Of the $222 million in venture capital raised by quantum computing companies globally this year, 58% went to European startups.
QM is hoping to be one of the companies that makes Europe a leader in quantum computing. The company evolved out of research being done at VTT University and Aalto University, located in Espoo, Finland. Both institutions are at the center of the country’s push to connect its science to entrepreneurship. This is part of an ongoing shift in Europe, where commercialization of academic research has lagged compared to the U.S.