ParticleX and the Hong Kong University of Science and Technology (HKUST) Entrepreneurship Fund are partnering to invest in QUANTier, a quantum computing startup. QUANTier specializes in building Quantum Processing Units using atoms and designs for cloud computing services. Their technology uses laser light to control atom movement, allowing for room-temperature infrastructure for quantum computers. The investment supports Hong Kong’s innovation and technology ecosystem and aligns with the government’s $3 billion investment in frontier technology fields. QUANTier aims to make quantum computing more practical and accessible, targeting universities and medium-sized businesses.
ParticleX and HKUST Entrepreneurship Fund Invest in Quantum Computing Startup QUANTier
ParticleX, a venture capital company for startups, has partnered with the Hong Kong University of Science and Technology (HKUST) Entrepreneurship Fund to co-invest in QUANTier, an innovative quantum computing startup. Quantum computing has the potential to revolutionize industries such as education, cryptography, drug discovery, materials science, and financial modeling by performing calculations at exponentially faster speeds than traditional computers. This joint investment supports the Financial Secretary’s initiatives outlined in the 2023-24 budget speech to enhance Hong Kong’s innovation and technology ecosystem.
QUANTier, a HKUST spin-off, specializes in building Quantum Processing Units using atoms and designs to provide cloud computing services that enhance users’ quantum computing experiences. Their unique technology uses laser light to control the movement of atoms, allowing for a room-temperature infrastructure for quantum computers. QUANTier is dedicated to delivering high-quality qubits with long coherence times, making quantum computing more practical and accessible than ever before. They target universities and medium-sized businesses that prioritize quality qubits over speed, making their initial focus on education a natural fit.
Mingles Tsoi, CXO of ParticleX, stated, “The HKSAR Government recently announced a $3 billion investment in basic research for frontier technology fields such as artificial intelligence and quantum technology in its 2023-24 Budget. ParticleX’s investment in QUANTier demonstrates our commitment to building a strong digital future. We believe quantum computing will be instrumental in shaping the future of technology, and we are excited to be at the forefront of this revolution. We are confident that with our support, QUANTier will continue to make significant strides in the field of quantum computing, and we eagerly anticipate the impact their technology will have on the world.”
QUANTier’s Unique Approach to Quantum Computing
QUANTier’s innovative approach to developing quantum processing units with atoms has the potential to revolutionize the industry. Their technology uses laser light to control the movement of atoms, allowing for a room-temperature infrastructure for quantum computers. This makes quantum computing more practical and accessible than ever before.
The startup targets universities and medium-sized businesses that prioritize quality qubits over speed, making their initial focus on education a natural fit. By delivering high-quality qubits with long coherence times, QUANTier aims to make quantum computing more practical and accessible for a wider range of users.
Support from ParticleX and HKUST Entrepreneurship Fund
ParticleX and the HKUST Entrepreneurship Fund’s investment in QUANTier demonstrates their commitment to building a strong digital future and supporting innovative startups in the field of quantum computing. The HKSAR Government recently announced a $3 billion investment in basic research for frontier technology fields such as artificial intelligence and quantum technology in its 2023-24 Budget.
Dr. Shin Cheul Kim, PhD, Associate Vice-President for Research and Development (Knowledge Transfer) at HKUST, said, “This collaboration highlights the importance of academia and early-stage investors working together to drive the disruptive innovation from the breakthroughs in quantum computing research. We firmly believe QUANTier’s innovative approach has the potential to reshape the landscape of quantum computing in the years to come.”
QUANTier’s Future Plans
Dr. Elnur Hajiyev, co-founder and CTO of QUANTier, expressed excitement about the support from ParticleX and HKUST Entrepreneurship Fund, as their investment will accelerate the startup’s development. QUANTier looks forward to sharing its first-generation neutral atom quantum computing system with the community.
With the backing of ParticleX and the HKUST Entrepreneurship Fund, QUANTier is well-positioned to continue making significant strides in the field of quantum computing and revolutionize the industry with its innovative approach to developing quantum processing units with atoms.
About ParticleX, HKUST Entrepreneurship Fund, and QUANTier
ParticleX is a venture capital company that invests in early-stage technology startups, focusing on companies with robust business models and large Total Addressable Markets (TAM). They provide funding, technology breakthroughs, strategic reinvention, and business matchmaking to support startups on their path to success.
The HKUST Entrepreneurship Fund is established for the benefit of promising HKUST technology start-up companies, aligning with HKUST’s Knowledge Transfer Mission and promoting entrepreneurship spirit among HKUST stakeholders leading to social and economic impact.
QUANTier is an innovative quantum computing startup that specializes in building Quantum Processing Units using atoms and designs to provide cloud computing services that enhance users’ quantum computing experiences. Their unique technology has the potential to revolutionize the industry and reshape the landscape of quantum computing in the years to come.
Mingles Tsoi, CXO of ParticleX, stated, “The HKSAR Government recently announced a $3 billion investment in basic research for frontier technology fields such as artificial intelligence and quantum technology in its 2023-24 Budget. ParticleX’s investment in QUANTier demonstrates our commitment to building a strong digital future. We believe quantum computing will be instrumental in shaping the future of technology, and we are excited to be at the forefront of this revolution. We are confident that with our support, QUANTier will continue to make significant strides in the field of quantum computing, and we eagerly anticipate the impact their technology will have on the world.”
Dr. Shin Cheul Kim, PhD, Associate Vice-President for Research and Development (Knowledge Transfer), Hong Kong University of Science and Technology, said, “We are proud to see QUANTier, a HKUST spin-off, receive the support of ParticleX and our HKUST Entrepreneurship Fund. This collaboration highlights the importance of academia and early-stage investors working together to drive the disruptive innovation from the breakthroughs in quantum computing research. We firmly believe QUANTier’s innovative approach has the potential to reshape the landscape of quantum computing in the years to come.”
Dr. Elnur Hajiyev, co-founder and CTO of QUANTier, said, “We’re thrilled to have the support of ParticleX and HKUST Entrepreneurship Fund, as their investment will accelerate our development. We look forward to sharing our first-generation neutral atom quantum computing system with the community.”
Summary
ParticleX and the Hong Kong University of Science and Technology Entrepreneurship Fund are partnering to invest in QUANTier, a quantum computing startup that uses atoms and laser light to create room-temperature quantum processing units. This collaboration aims to enhance Hong Kong’s innovation and technology ecosystem and make quantum computing more practical and accessible.
- ParticleX, a venture capital company, is partnering with the Hong Kong University of Science and Technology (HKUST) Entrepreneurship Fund to co-invest in QUANTier, a quantum computing startup.
- Quantum computing has the potential to revolutionize industries such as education, cryptography, drug discovery, materials science, and financial modeling by performing calculations at exponentially faster speeds than traditional computers.
- QUANTier specializes in building Quantum Processing Units using atoms and designs to provide cloud computing services that enhance users’ quantum computing experiences.
- Their technology uses laser light to control the movement of atoms, allowing for a room-temperature infrastructure for quantum computers.
- QUANTier aims to deliver high-quality qubits with long coherence times, making quantum computing more practical and accessible.
- The company targets universities and medium-sized businesses that prioritize quality qubits over speed, with an initial focus on education.
- ParticleX’s investment in QUANTier supports the Hong Kong government’s $3 billion investment in basic research for frontier technology fields such as artificial intelligence and quantum technology.
- QUANTier is a spin-off from HKUST, and the collaboration highlights the importance of academia and early-stage investors working together to drive disruptive innovation in quantum computing research.