Multiverse Computing won the 2024 Future Unicorn award from DIGITALEUROPE, a leading European digital trade association. The award recognizes Multiverse’s potential to reach a $1 billion valuation. CEO Enrique Lizaso Olmos, CFO Marta Garcia, and Chief Growth Officer Iraia Ibarzabal accepted the award. Multiverse is developing quantum solutions for various industries and recently launched CompactifAI, a project to make Large Language Models more efficient. The Future Unicorn Award aims to identify future tech giants in Europe and double the number of European unicorns by 2030.
Multiverse Computing Receives ‘Future Unicorn’ Award 2024
Multiverse Computing, a company specializing in quantum computing solutions, has been awarded the 2024 Future Unicorn award by DIGITALEUROPE, a trade association representing digitally transforming industries across Europe. The award is given to private companies with potential to reach a valuation of $1 billion.
Enrique Lizaso Olmos, Co-founder and CEO of Multiverse Computing, along with Marta Garcia, Chief Financial Officer, and Iraia Ibarzabal, Chief Growth Officer, accepted the award on behalf of the company. Olmos expressed his pride in the team of 130 individuals from 26 countries, comprising researchers, computer scientists, and business experts, working to solve significant global issues.
Multiverse Computing’s Quantum Solutions and Projects
Multiverse Computing collaborates with clients across various sectors, including finance, energy, cybersecurity, manufacturing, logistics, space, life, health, and defense. The company is developing quantum and quantum-inspired solutions for optimization and other applications.
One of the company’s recent projects is a materials science R&D initiative funded by Germany’s Aerospace Center’s Quantum Computing Initiative. Additionally, Multiverse has launched CompactifAI, a tool that employs tensor networks to enhance the efficiency of Large Language Models by reducing their size.
Criteria for the Future Unicorn Award
The Future Unicorn award is given to companies that meet three primary criteria: a positive impact on society, a commitment to green values and gender diversity, and an emphasis on digital skills, cyber resilience, digital health, and AI.
An expert jury, including leaders from Nokia, NATO, Invest Europe, Veriff, and the European Innovation Council, selected three finalists from an initial group of 10 potential unicorns. The panel evaluated the companies based on their growth potential and innovation.
Other Finalists and Future Unicorns Program
The other two finalists for the Future Unicorn award were Aerospacelab from Belgium and Veo from Denmark. The winner was announced by Iliana Ivanova, EU Commissioner for Innovation, Research, Culture, Education, and Youth, at the Masters of Digital conference.
Now in its seventh year, the Future Unicorns program aims to identify future tech giants originating from Europe. The goal is to double the number of unicorns in the region by 2030. Only 4.5% of the 1,200 private companies in the Global Unicorn Club, valued at $3.8 trillion, are from the EU.
Role of DIGITALEUROPE
DIGITALEUROPE and 41 associated national trade organizations compile the shortlist of 10 companies for the Future Unicorn award. DIGITALEUROPE is a trade association that works to attract tech companies and strengthen Europe’s tech workforce. The organization represents more than 45,000 businesses.