{"id":638953,"date":"2024-09-18T11:44:04","date_gmt":"2024-09-18T08:44:04","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/algorithm-startup-qmill-vows-to-become-first-to-provide-quantum-advantage\/"},"modified":"2024-09-18T11:44:04","modified_gmt":"2024-09-18T08:44:04","slug":"algorithm-startup-qmill-vows-to-become-first-to-provide-quantum-advantage","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/algorithm-startup-qmill-vows-to-become-first-to-provide-quantum-advantage\/","title":{"rendered":"#Algorithm startup QMill vows to become \u2018first to provide quantum advantage\u2019"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a44805d9308f\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a44805d9308f\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/algorithm-startup-qmill-vows-to-become-first-to-provide-quantum-advantage\/#Founder_team_sprung_from_the_Finnish_quantum_community\" >Founder team sprung from the Finnish quantum community<\/a><\/li><\/ul><\/nav><\/div>\n<div id=\"article-main-content\">\n                            <span style=\"font-weight: 400;\">Espoo outside of Helsinki is turning into quite the quantum hub. The city\u2019s latest addition to the Finnish quantum computing ecosystem is QMill. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The newly minted algorithm startup just raised \u20ac4mn in seed funding to leverage near-term hardware to deliver real benefits to industry through quantum computing.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cThere is momentum growing at the moment [in quantum], and investors can see that a lot of companies are experimenting with quantum computing now \u2014 but so far they have not found quantum advantage,\u201d Hannu <span>Kauppinen<\/span>, QMill co-founder and CEO, told TNW. \u201cWe are the ones who will be the first to provide them with that.\u201d\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Quantum advantage refers to the point when a quantum computer is able to solve a problem faster or more efficiently than classical high-performance computers. Hitting this milestone will also unlock tremendous value across a number of industries.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The problem is that despite significant progress, quantum computers remain stuck in the so-called NISQ (Noisy-Inter<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>te Scale Quantum) era. These machines are prone to errors, especially when attempting to scale and control a larger number of qubits. <\/span><\/p>\n<div class=\"inarticle-wrapper latest channel-cta hs-embed-tnw\">\n<div id=\"hs-embed-tnw\" class=\"channel-cta-wrapper\">\n<div class=\"channel-cta-img\"><img decoding=\"async\" class=\"js-lazy\" src=\"https:\/\/s3.eu-west-1.amazonaws.com\/tnw.events\/hardfork-2018\/uploads\/visuals\/tnw-newsletter.png\"\/><\/div>\n<p><img decoding=\"async\" src=\"https:\/\/s3.eu-west-1.amazonaws.com\/tnw.events\/hardfork-2018\/uploads\/visuals\/tnw-newsletter.png\"\/><\/p>\n<div class=\"channel-cta-input\">\n<p class=\"channel-cta-title\">The <\/p>\n<p class=\"channel-cta-tagline\">The latest rumblings from the EU tech scene, a story from our wise ol&#8217; founder Boris, and some questionable AI art. It&#8217;s free, every week, in your inbox. Sign up now!<\/p>\n<\/div>\n<\/div>\n<\/div>\n<p><span style=\"font-weight: 400;\">Thus, the potential of the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> remains unfulfilled, along with its commercial benefits \u2014 unless algorithms can be sufficiently optimised to run on near-term systems.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Mikko M\u00f6tt\u00f6nen, one of QMill\u2019s other co-founders and its chief scientist, has been in the field of quantum hardware for about 20 years. He says he has seen significant improvement over the past five years and that it is only \u201ca matter of time\u201d before we have an error-corrected full-fledged quantum computer.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cHowever, at the moment no one knows how to use the present day machines or the machines that will be there in the next 10 years, for useful cases \u2014 for cases that businesses can benefit from,\u201d M\u00f6tt\u00f6nen added. \u201cWhat we are doing is using the near-term hardware for quantum advantage.\u201d<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Founder_team_sprung_from_the_Finnish_quantum_community\"><\/span>Founder team sprung from the Finnish quantum community<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The funding round was led by <\/span><span style=\"font-weight: 400;\">Finland-based Maki.vc as well as Antler, and joined by industrial technology investor Kvanted.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The funds will go toward <\/span><span style=\"font-weight: 400;\">the development of QMill\u2019s highly resource-efficient quantum algorithms<\/span><span style=\"font-weight: 400;\">. These will work for <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>lications that require up to 300 physical qubits to solve optimisation problems for industries including <\/span><span style=\"font-weight: 400;\">finance, telecommunications, real estate, energy, and supply chain logistics.<br \/><\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\">\u201cQMill has identified a great opportunity to leverage the current noisy intermediate-scale quantum era, rather than waiting for the quantum-computing ecosystem to evolve over the next decade,\u201d said Pirkka Palom\u00e4ki, partner at Maki.vc, adding that the investment was driven by the \u201cexceptional quality\u201d of the QMill team.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Indeed, the QMill founders\u2019 resumes are impressive. QMill is the brainchild of <\/span><span style=\"font-weight: 400;\">M\u00f6tt\u00f6nen, who is professor of Quantum Technology at Aalto University and VTT; <span>Kauppinen<\/span>, who is the <\/span><span style=\"font-weight: 400;\">former chief technology officer of Nokia Technologies; <\/span><span style=\"font-weight: 400;\">Ville Kotovirta, former head of VTT\u2019s Quantum Algorithms and Software Team; and Toni Annala, an L.E. Dickson Instructor at the University of Chicago.\u00a0<\/span><\/p>\n<figure class=\"post-image post-mediaBleed aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-1410386 js-lazy\" alt=\"AN image of the four men in the QMill founding team, all wearing suits\" width=\"1640\" height=\"923\" src=\"https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2024\/09\/QMill_founders.jpg\"\/><figcaption>The QMill founding team has an impressive resume. Credit: QMill<\/figcaption><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-1410386\" src=\"https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2024\/09\/QMill_founders.jpg\" alt=\"AN image of the four men in the QMill founding team, all wearing suits\" width=\"1640\" height=\"923\" srcset=\"\"\/><\/figure>\n<p><span style=\"font-weight: 400;\">The company currently has 10 people on the team, and now plans to use the newly raised funds to bring on 20 more. \u201cWe are hiring quantum physicists, mathematicians, but also people who have expertise in computer <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/sciencee\/\" data-internallinksmanager029f6b8e52c=\"5\" title=\"Science\" target=\"_blank\" rel=\"noopener\">science<\/a>, machine learning, as well as in computer simulations,\u201d said <span>Kauppinen<\/span>. <\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\">Much of that talent can be found in Finland, a country that has traditionally done a tremendous job in supporting and nurturing its deep tech industry. QMill has also received a \u20ac1mn grant from Business Finland, the Finnish Ministry of Employment and the Economy\u2019s innovation, trade, and investment support branch.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cWhat is also important is that Business Finland helps to organise a community of companies and research groups here,\u201d <span>Kauppinen<\/span> said. \u201cBecause we have a tradition to cooperate in a pre-competitive mode, join forces. We\u2019re not competing against each other, but we plan to create an industry here, and exports from Finland.\u201d<\/span><span style=\"font-weight: 400;\"><br \/><\/span>\n                        <\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN63nwsw68G3Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more like this article, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/technology\/\" target=\"_blank\" rel=\"noopener\">Technology category.<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/thenextweb.com\/news\/algorithm-startup-qmill-vows-to-become-first-to-provide-quantum-advantage\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Espoo outside of Helsinki is turning into quite the quantum hub. The city\u2019s latest addition to the Finnish quantum computing ecosystem is QMill. The newly minted algorithm startup just raised \u20ac4mn in seed funding to leverage near-term hardware to deliver real benefits to industry through quantum computing.\u00a0 \u201cThere is momentum growing at the moment [in&#8230;<\/p>\n","protected":false},"author":1,"featured_media":638954,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/img-cdn.tnwcdn.com\/image\/tnw-blurple?filter_last=1&fit=1280%2C640&url=https%3A%2F%2Fcdn0.tnwcdn.com%2Fwp-content%2Fblogs.dir%2F1%2Ffiles%2F2024%2F09%2FQMill_visual-e1726647349580.jpg&signature=4534d8c6bae5feff540a5f71173516aa","fifu_image_alt":"","footnotes":""},"categories":[18],"tags":[],"class_list":["post-638953","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/638953","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=638953"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/638953\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/638954"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=638953"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=638953"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=638953"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}