Spanish start-up Qilimanjaro Quantum Tech, specializing in quantum computing, has been named the “world’s best digital start-up” at the 4YFN Awards, part of the Mobile World Congress Barcelona 2024. The company develops and markets analog quantum computers to solve complex problems in industries like chemistry, logistics, finance, and energy.
CEO Marta Estarellas says the award recognizes their work and dedication and hopes it will boost their international expansion. The company, a spin-off from the University of Barcelona, has developed two quantum computers and plans to open a Quantum Data Centre.
Qilimanjaro Quantum Tech: A Spanish Quantum Computing Start-up
Qilimanjaro Quantum Tech, a Spanish start-up specializing in quantum computing, has been recognized as an outstanding digital start-up at the 4YFN Awards, a competition held as part of the Mobile World Congress Barcelona 2024. The event, attended by over 100,000 people, acknowledges the innovative potential of promising start-ups worldwide. Qilimanjaro Quantum Tech’s recognition comes with a €20,000 prize and an opportunity to present at the 2025 edition of 4YFN, a forum for entrepreneurs to showcase their innovative projects and technologies.
The start-up was chosen from hundreds of global competitors, impressing an international VC panel with its unique approach to quantum computing. The technology developed by Qilimanjaro enhances the capabilities of traditional computers, enabling them to tackle complex problems that are currently unsolvable. This advancement pushes the boundaries of science, providing faster and more efficient solutions to existing industry problems.
Quantum Computing: The Next Technological Revolution
Marta Estarellas, CEO of Qilimanjaro, believes that quantum computing will be the next technological revolution, offering tools to expand our understanding of the world and apply them to various industries. The company, proud to be at the forefront of this field, hopes that this award will boost its international expansion and solidify its position in the European market.
Qilimanjaro Quantum Tech, a spin-off from the University of Barcelona (UB), the Barcelona Supercomputing Centre (BSC), and the Institut de Física d’Altes Energies (IFAE), has a team of over 40 highly qualified professionals. The company has already developed two quantum computers, one for the BSC, which is due to be installed in July 2024, and another for the Technology Innovation Institute (TII) in the United Arab Emirates.
Quantum Data Centre and Quantum-as-a-Service
With the 4YFN award, Qilimanjaro Quantum Tech is looking to the future with optimism and ambition. One of its immediate plans is to open a Quantum Data Centre, which will provide remote access to various quantum platforms through its Quantum-as-a-Service.
The company is now focusing on developing specific use cases that offer innovative solutions in areas such as chemistry, logistics, finance, and energy. According to Estarellas, “Nature is intrinsically quantum and analog. Therefore, if we want an accurate description of nature, we need to use its language. And that is why our vision is to develop quantum analog processors”. Quantum processors or QPUs are accelerators of computing systems that work in a hybrid way with conventional CPUs and GPUs to solve specific subproblems.
Funding and Recognition
Qilimanjaro is in advanced discussions to finalize its first round of funding, which will expedite the launch of its Quantum-as-a-Service. Until now, Qilimanjaro’s funding has been based on customer contracts and national and European grants from the European Innovation Council.
The company has received several important distinctions, including participation in the 2023 Intel® Ignite acceleration program in Munich, recognition from StartUs Insights as one of the five most relevant companies in the quantum sector in 2022, the Deep Tech Awards 2022 of the Barcelona Deep Tech Node, and the Senén Vilaró 2021 award of the Bosch i Gimpera Foundation for the best innovative company related to the University of Barcelona.
Qilimanjaro’s Clients and Market Projections
Currently, Qilimanjaro’s clients include some of the leading Spanish multinational corporations, such as a major international textile firm, as well as Indra, Grupo Enel, and Stuart, part of the GeoPost group. The company has also received financial support from CDTI and collaborates on projects with Grupo Repsol and BBVA.
According to Hyperion Research analysts’ projections, the current quantum computing market is estimated at $1B and is expected to grow by 40% in the next 10 years. Qilimanjaro Quantum Tech, with its innovative approach and promising technology, is well-positioned to contribute to this growth.
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