Category: Innovative Technologies
Quantum technology is inching towards real-life applications. The technology is set to fundamentally change industries like life sciences and energy where its supercharged computing power enables much more complex problem-solving at an accelerated speed. In a recent study, McKinsey forecasts the quantum computing market could reach $1 trillion by 2035, which means that now is the time to invest in the future. On the forefront of it all, the Netherlands is leading the research that will one day revolutionize everything from modern banking to medicine and countless industries in between.
Quantum technology relies on theories related to subatomic particles to develop faster, more efficient computing systems. Essentially quantum technology aims to create a really fast computer, faster than any computing that exists. The Netherlands Innovation Attaché Network in North America’s senior advisor, Ulrich Mans, said that while quantum computing is still in its early stages, its promises are on the near horizon.
How it will impact specific industries, however, remains one of many questions to be answered through research and development efforts over the coming years.
The newest update this year saw Delft-based startup Orange Quantum Systems spin-off the established QuTech initiative. These projects are focused on designing a workable quantum hardware system – the first quantum computer – and to help companies around the world understand their applications.
There is a lot of interest coming from the pharmaceutical industry and the energy sector to start working with quantum technology. Greater Rotterdam – The Hague, with Delft at its centre, is a top location for these sectors, providing ample opportunities for future investments. Research teams are advancing quickly, and waiting is a risky option for companies that hope to thrive in the future.
Quantum technology will drive the exchange of vast amounts of data between organizations and their cloud environments feeding newly developed AI models. Latency restrictions and network bandwidth limitations will force these AI-models to be placed on highly interconnected key edge locations in close proximity to the R&D teams of these organizations, like in our region.
For the tech sector and beyond, the Netherlands is a powerhouse choice for investing in quantum’s future. While an attractive location for any foreign businesses, there are two specific reasons it is fertile ground for quantum research and development.
In April 2020, Europe’s first public quantum computing platform was launched, called Quantum Inspire. Delft-based QuTech, a collaboration between TU Delft and TNO, developed Quantum Inspire to make the quantum computer accessible to everyone. It is the first in the world to use a quantum processor made of scalable spin qubits.
Many companies looking to get into the quantum game find everything they need in greater Rotterdam – The Hague, according to recent reports. In 2019, the Netherlands was recognized with the most competitive economy in Europe by the World Economic Forum.
Our track record over the last decade speaks for itself. Among others, the first generation of flux qubits was developed Delft, as well as the first loophole-free bell test in 2015 – both important milestones that would take more than a blog post to explain! As recently as 2018, it was the first to show on-demand quantum entanglement. To the world of quantum technology, they are stand-out achievements key to the success of future projects. MIT’s breakthrough technology report 2020 featured Delft University, which created a data-linking system joining four cities. The university is also the home of the aforementioned QuTech, the original team seeking to design the first European quantum computer, using a 135 million euro investment to develop the hardware.
In the last five years, the Netherlands invested approximately 350 million euro in the quantum field, apart from the new national initiative. Quantum Delta, for example, is at the forefront of collaborating between research hubs in the Netherlands.
Ingrid van Engelshoven, the Dutch Minister of Education, Culture and Science, said, “Quantum computing is a key technology for the future. The Netherlands is a scientific leader in this field. I am extremely proud of the researchers and engineers from Delft, who combine research with innovation, entrepreneurship and the training of talent. Quantum Inspire is a first step, the intention is to further scale up the platform within the Netherlands and Europe. Even in times of crisis, it is important to share knowledge and continue to work on tomorrow’s innovations.”
For companies fluctuating between investing in quantum technology or not, the only certainty is that the Netherlands is a great location in terms of resources and investment opportunity. In case you missed it, we’ll leave that quantum pun there for you to reflect on. Enjoy!
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