IBM and the University of Chicago collaborate to strengthen quantum startups in Illinois
IBM and the University of Chicago Collaborate to Boost Quantum Computing Startups
The University of Chicago and IBM are joining forces to bolster the development of quantum computing startups, marking a significant stride in the nation's quantum technology landscape. This collaboration, centred around Duality – the first quantum startup accelerator in the United States – aims to accelerate innovation and empower the next generation of quantum leaders.
Key Elements of the Partnership
- Advanced Quantum Computing Capabilities: Selected startups will gain access to IBM Quantum System Two, an advanced quantum computing system set to be deployed at the Illinois Quantum and Microelectronics Park (IQMP). This cutting-edge technology will enhance the startups' capacity to develop quantum software and applications [1][2][3].
- Financial Support and Resources: IBM Ventures will provide funding to startups in the Duality accelerator, in addition to granting access to IBM's quantum computers via the cloud. The startups will also benefit from IBM's technical expertise, which will aid in exploring algorithms and applications for quantum computing [2][3].
- Multi-Institutional Approach: Duality is led by the University of Chicago's Polsky Center for Entrepreneurship and Innovation and the Chicago Quantum Exchange, with founding partners including the University of Illinois at Urbana-Champaign, Argonne National Laboratory, and P33. This collaborative effort strengthens Illinois' position in quantum innovation [1][3].
- Education Initiatives: Both IBM and the University of Chicago are involved in international collaborations, including initiatives in Japan and South Korea, to educate students for careers in quantum computing. The goal is to prepare 40,000 students for the quantum computing workforce over the next decade [1][2].
By merging resources and expertise, this partnership significantly enhances the quantum ecosystem in the Midwest and supports the development of quantum technologies that could revolutionise fields from sensors to next-generation computing [3][4].
Building the Future of Computing Together
Emily Fontaine, the global head of IBM Ventures, and Jay Gambetta, the vice president of IBM Quantum, are leading this partnership. They are joined by Nadya Mason, the Interim Vice President for Science, Innovation, and Partnerships at UChicago and dean of the UChicago Pritzker School of Molecular Engineering.
Since its launch in 2021, Duality has supported over 25 startups, helping them raise more than $50 million in follow-on funding. Recent initiatives include the UChicago Science Incubator, featuring a quantum suite, and Harper Court Ventures, a $25 million fund focused on high-impact sectors.
This partnership underscores the University of Chicago's commitment to playing a leading role in building the quantum economy, as stated by university officials. Together, IBM and the University of Chicago are working towards a shared vision: to build the future of computing.
[1] https://ibm.co/3lQ5CiG [2] https://bit.ly/3lR5P36 [3] https://bit.ly/3lR2j5q [4] https://bit.ly/3lR1Yzq
- The collaboration between IBM and the University of Chicago is expected to foster innovation not only in quantum computing but also in other sectors, as IBM Ventures will provide funding to startups, allowing them to explore the potential of quantum computing in finance, business, technology, and science.
- As part of their commitment to shaping the future of computing, IBM and the University of Chicago are involved in various international collaborations, focusing on educating students in the fields of science, finance, business, and technology to prepare the next generation of quantum leaders.
