IBM teams up with University of Chicago to bolster quantic startups in Illinois
The University of Chicago and IBM have joined forces to support startups in Duality, the nation's first quantum startup accelerator, with the goal of accelerating the development of quantum software and applications.
Selected Duality startups will receive funding from IBM via IBM Ventures, access to IBM's quantum computers, including the IBM Quantum System Two, and technical expertise to aid in developing quantum algorithms and applications. The IBM Quantum System Two will be deployed at the Illinois Quantum and Microelectronics Park (IQMP).
Duality is led by the University of Chicago’s Polsky Center and the Chicago Quantum Exchange, with founding partners including the University of Illinois Urbana-Champaign and Argonne National Laboratory. The program is integrated into a strong regional quantum innovation ecosystem led by UChicago and partners, with additional benefits such as the UChicago Science Incubator (which has a quantum suite) and a $25 million investment fund called Harper Court Ventures aimed at high-impact sectors such as quantum computing.
The partnership also extends to collaborations across Chicago's vibrant ecosystem of academic and industry experts, as well as educational collaborations to prepare 40,000 students for quantum computing careers over the next decade. This includes engagement in national initiatives like the National Quantum Algorithm Center, further strengthening innovation and startup development in quantum technologies around Illinois.
Notably, since its launch in 2021, Duality has supported over 25 startups, helping them raise more than $50 million in follow-on funding. IBM's commitment to this collaboration extends to collaborating with partners in Japan and South Korea to prepare 40,000 students for careers in quantum computing over the next decade.
Nadya Mason, the Interim Vice President for Science, Innovation, and Partnerships at UChicago and dean of the UChicago Pritzker School of Molecular Engineering, and Jay Gambetta, IBM Quantum's vice president, have expressed their commitment to growing and fostering a dynamic quantum ecosystem in Illinois and beyond. The University of Chicago is proud to play a leading role in building the quantum economy.
[1] https://www.uchicago.edu/news/2023/03/28/uchicago-ibm-collaborate-support-startups-nations-first-quantum-startup-accelerator [2] https://www.ibm.com/press/us-en/presskit/49945.wss [3] https://www.uchicago.edu/news/2023/03/28/uchicago-ibm-collaborate-support-startups-nations-first-quantum-startup-accelerator
- The collaboration between the University of Chicago and IBM extends beyond Illinois, as they aim to prepare 40,000 students in Japan and South Korea for careers in quantum computing.
- The University of Chicago's Polsky Center and the Chicago Quantum Exchange, along with partners like IBM, are fostering a vibrant business ecosystem in science and technology, particularly in the high-impact sector of quantum computing, through initiatives like Duality and investments such as the UChicago Science Incubator and Harper Court Ventures.
