Castrén & Snellman advised IQM, a Finnish start-up, in the public procurement procedure.
IQM, a Finnish start-up, and VTT Technical Research Centre of Finland have entered into an agreement to establish a co-innovation partnership and begin building Finland’s first quantum computer. The overall goal of the project is to build a 50-qubit device by 2024.
VTT selected IQM as its innovation partner as a result of an international public tender procedure. IQM is a European leader in building quantum computers.
The cooperation will bring together expertise in quantum technologies and enable a leap in Finland’s quantum capabilities. The computer will be built in Espoo, Finland, at VTT’s and Aalto University’s joint national research infrastructure Micronova. Work will begin already during 2020.
The partnership has come to fruition as the result of an international public tender and has been allocated 20.7 million euros by the Finnish Government. The project will advance in three stages, the first of which will be to build a five-qubit computer within a year and proceed towards the end-goal of setting up a 50-qubit device. Google and IBM currently lay claim to the most powerful, 53-qubit, devices in the world.
VTT is a visionary research, development and innovation partner.
The Castrén & Snellman team included Anna Kuusniemi-Laine (Picture) and Pia Ek.
Law Firms: Castrén & Snellman;
Clients: IQM Quantum Computers;