PARIS and PALO ALTO, Calif., April 9, 2020 /PRNewswire/ -- QC Ware France, a wholly owned subsidiary of the quantum computing-as-a-service company QC Ware, today announced that it has been selected as one of the thirty-two winners of the BPIFrance Concours d'Innovation i-Nov award. This grant program is highly competitive and hosted by BPIFrance, the esteemed French public investment bank.
The grant supports innovative projects carried out by startups and SMEs and provides funding to companies developing technology that have high potential to impact the French economy and beyond. QC Ware won its award within the program's "deep tech" category for research that will push the envelope on Quantum Machine Learning, one of the most promising applications of quantum computing. QC Ware is the only quantum computing company to have received this award.
"QC Ware is experiencing dynamic growth across several industries, proving that there is a practical path for quantum computing applied to solving complex enterprise challenges worldwide. BPIFrance recognizes the tremendous potential of quantum computing," said Matt Johnson, QC Ware CEO. "By granting QC Ware the Concour d'Innovation i-Nov award BPIFrance acknowledges that QC Ware will strategically help enterprises in the future. We are honored to receive such a prestigious award."
QC Ware is a quantum computing software company that develops among others computational finance applications that run on quantum computers. By harnessing the properties of quantum physics, quantum computers have the potential to navigate through a vast number of possibilities and come up with a probable solution faster.
QC Ware has worked extensively with institutions in the financial sector, helping them to explore how quantum computing could be used to speed up financial calculations and AI-based decision making. QC Ware's work in this space includes collaborating with Goldman Sachs to gain in-depth knowledge on the near term impact of quantum computers and on the development of new algorithms that will enable quantum computers to outperform concurrent classical computers for computational finance applications.
QC Ware France's BPIFrance grant project will focus on Quantum Machine Learning, involving creating software tools for classical data scientists, with capabilities for classification, clustering and reinforcement learning. This research will go toward adding features to Forge, QC Ware's cloud service. QC Ware developed Forge to enable large enterprises and public-sector organizations to start building quantum skills and prepare for the potential disruption that quantum computing will bring to the market in the near future.
Iordanis Kerenidis, Head of Quantum Algorithms International at QC Ware, led QC Ware France's submission to BPIFrance. At QC Ware, Kerenidis oversees the design and development of quantum algorithms for machine learning. He is also director of the Paris Centre for Quantum Computing (PCQC) and one of the world leaders in the field of quantum machine learning. His work has been highly influential in the quantum machine learning community.
Since 2013, BPIFrance has become the one-stop shop for entrepreneurs with a vastly comprehensive toolbox offering in the field to customers through 50 branches. BPIFrance believes in serving the future, by being entrepreneur-centric and heavily decentralized. BPIFrance supports micro-businesses, SMEs and mid-caps but also accompanies large caps that are considered important to the interests of France in context of France's national economy, territories, or employment. BPIFrance offers solutions to every key step in a company's growth, including business creation, financing, guarantees or equity investment.
About QC Ware
QC Ware is a quantum computing-as-a-service company building enterprise solutions that run on quantum computing hardware. QC Ware's mission is to be the first company to offer a practical application providing quantum advantage over classical computers. QC Ware is working towards that goal with one of the world's strongest teams of quantum algorithms scientists and through its multiple industry collaborations in finance, aerospace, material design, automotive, and oil and gas. The company is headquartered in Palo Alto, CA and recently opened an office in Paris, with plans to open an office in Tokyo in 2020.
For more information, please visit qcware.com. QC Ware also hosts the annual "Q2B - Practical Quantum Computing" conference each December in Silicon Valley. The three-day conference brings industry, government and research institutions together to stimulate application discovery and development. For more information, please visit q2bconference.com
SOURCE QC Ware Corp.