Multiverse Computing, a quantum software company, has been nominated for the 2024 Future Unicorn award by DIGITALEUROPE, recognizing its potential to reach a value of $1 billion. The company, which provides quantum computing solutions, is among Europe’s top 10 tech scale-ups. Multiverse is developing CompactifAI, a compressor to make AI models more efficient, and new software to enhance Large Language Models. The Future Unicorn award winner will be announced by EU Commissioner for Innovation, Iliana Ivanova, on 21 February. Multiverse’s CEO, Enrique Lizaso Olmos, highlighted the company’s progress, including doubling its revenue in 2023.
Announcement of Finalists and Winner
The three finalists for the Future Unicorn award will be announced in early February. The winner will be declared by Iliana Ivanova, the EU Commissioner for Innovation, Research, Culture, Education, and Youth, on February 21 at the Masters of Digital conference in Brussels, which will also be available online.
Multiverse Computing’s Achievements and Future Plans
Multiverse Computing has been collaborating with entities in the U.K, the European Union, and North America across various sectors including finance, energy, space, manufacturing, and defense. In 2024, the company’s leaders presented at the Consumer Electronics Show (CES) in Las Vegas and the AI House at the World Economic Forum in Davos, discussing how quantum algorithms are addressing real-world business problems. The company has seen significant progress in 2023, including doubling its revenue year over year and launching CompactifAI, a compressor that enhances the efficiency of AI models. Enrique Lizaso Olmos, a representative of the company, also highlighted the company’s achievement of filing 95 patents and publishing 28 scientific papers since its inception in 2019.
Future Developments at Multiverse Computing
In the coming year, Multiverse Computing plans to develop benchmarks to demonstrate the effectiveness of CompactifAI. The company is also working on creating new quantum-inspired software to make Large Language Models more portable, thereby expanding the potential use cases for this powerful technology.
The Future Unicorns Program
The Future Unicorns program, now in its seventh year, aims to identify future tech giants originating from Europe. Cecilia Bonefeld-Dahl, the director general of DIGITALEUROPE, expressed the goal of the program to double the number of unicorns in Europe by 2030. She praised the shortlisted companies for their innovative solutions to Europe’s most pressing challenges.
According to CB Insights, there are 1,200 private companies in the Global Unicorn Club, with a combined value of $3.8 trillion. However, only 4.5% of these companies are from the EU. DIGITALEUROPE and 41 associated national trade organizations are responsible for identifying 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’s membership represents more than 45,000 businesses.
“We appreciate this recognition of our significant progress in 2023, which included doubling revenue year over year and launching CompactifAI, a compressor which makes AI models more efficient,” “This is on top of filing 95 patents and publishing 28 scientific papers since we founded the company in 2019.”
Enrique Lizaso Olmos.
“This year’s impressive shortlist of the most brilliant scale-ups clearly reflects the power of European innovators to deliver solutions and face Europe’s most burning challenges,” Bonefeld-Dahl said. “We think these companies have got what it takes to become Europe’s next tech giant.”
Cecilia Bonefeld-Dahl, director general of DIGITALEUROPE.
Summary
Multiverse Computing, a quantum software company, has been nominated as one of Europe’s top 10 tech scale-ups with potential to become a billion-dollar company by DIGITALEUROPE. The company is developing quantum-inspired software to enhance the efficiency of AI models and is recognised for its potential to solve real-world business problems.
- Quantum software company, Multiverse Computing, has been nominated for the 2024 Future Unicorn award by DIGITALEUROPE, a leading trade association for digitally transforming industries in Europe.
- The award recognises companies with the potential to reach a value of $1 billion. Multiverse Computing is among the top 10 tech scaleups in Europe, alongside companies specialising in artificial vision, large language models, and connected vehicles.
- The winner will be announced by Iliana Ivanova, EU Commissioner for Innovation, Research, Culture, Education and Youth, on February 21 at the Masters of Digital conference in Brussels.
- Multiverse Computing has been collaborating with entities in the UK, the European Union, and North America across various sectors including finance, energy, space, manufacturing, and defence.
- In 2023, the company doubled its revenue and launched CompactifAI, a compressor designed to make AI models more efficient. It also filed 95 patents and published 28 scientific papers since its inception in 2019.
- This year, the company is developing benchmarks for CompactifAI and creating new quantum-inspired software to enhance the portability of Large Language Models.
- Cecilia Bonefeld-Dahl, director general of DIGITALEUROPE, stated that the aim of the Future Unicorn program is to identify future tech giants in Europe and double the number of unicorns in the region by 2030.
