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UCD quantum computing spin-out wins prestigious Institute of Physics prize

Posted 10 June, 2024

Equal1’s chief executive Jason Lynch being presented with the qBIG prize by Louis Barson, IOP Director of Science, Innovation and Skills

A quantum computing UCD spin-out has won the annual Institute of Physics' Quantum Business Innovation and Growth (qBIG) prize.

(opens in a new window)Equal1 was recognised with the prestigious award for its technological advancements in commercialising quantum computing.

Headquartered at NexusUCD, the company has developed a Quantum System-on-Chip Processor, integrating a full quantum system onto a single chip, and is set to create big leaps forward in the emerging world of quantum computing.

“Our vision is centred on developing compact, rack-mounted quantum computers that seamlessly integrate into standard data centre infrastructures,” said Jason Lynch, Equal1 CEO.

“The integration of classical and quantum components onto a single silicon chip allows for housing a complete quantum computer, including cryogenic components, within a single compact unit.”

He added: “Winning the qBig Prize marks a significant milestone for Equal1, affirming our forward-thinking approach to quantum computing. This recognition fuels our commitment to advancing this technology, making quantum computing more practical and accessible.”

This year’s qBIG prize, sponsored by Quantum Exponential - the UK’s first enterprise venture capital fund focused on quantum technology - was announced at The Economist’s 3rd Annual Commercialising Quantum Global 2024 event held in London.

For winning, Equal1 will receive £10,000 in an unrestricted cash prize, 10 months’ mentoring from the Quantum Exponential team, access to the IOP’s growing business community of industrial quantum physicists, engineers, innovators and entrepreneurs via the qBIG group, access to the Institute of Physics’ Accelerator workspace and a presence in the IOP’s annual Business Awards showcase exhibition to be held in the Palace of Westminster.

“It’s great to see the qBIG group and its prize going from strength to strength, and as the IOP represents the UK and Ireland it’s particularly nice to be celebrating an Irish winner of the prize,” said IOP Director of Science, Innovation and Skills Louis Barson.

The qBIG prize recognises and honours SMEs at the forefront of quantum technology development across the UK and Ireland.

This year’s runners-up were NIQS Tech, which is developing a quantum-based glucose monitoring sensor for diabetes management, and Aquark Technologies, which is developing an advanced, accessible and robust cold matter platform for sensing and computing applications.

Equal1 is supported by funding from Atlantic Bridge, Matterwave Ventures, Enterprise Ireland, European Innovation Council and 808 Ventures. 

By: David Kearns, Digital Journalist / Media Officer, UCD University Relations (with materials from Micéal Whelan, UCD Research and Innovation)

To contact the UCD News & Content Team, email: newsdesk@ucd.ie