Quantum computing project by UCD spin-out secures €13.7m funding
28 October 2025
Jason Lynch, CEO of Equal1
A quantum computing project led by (opens in a new window)Equal1, a spin-out company of NovaUCD, has secured €13.7 million in funding from the Disruptive Technologies Innovation Fund (DTIF).
The QUBIC project will create quantum algorithms, hardware and software to develop quantum-enabled solutions for Ireland’s key challenges in energy, climate modelling, advanced materials and pharmaceuticals.
Equal1 will lead the project in collaboration with (opens in a new window)Biosimulytics Ltd – another NovaUCD spin-out – as well as Nexalus Ltd; Algorithmiq Computing Ltd; Dell Technologies; the Irish Manufacturing Research Centre; UCD School of Computer Science; UCD Centre for Quantum Engineering, Science and Technology; UCD Energy Institute and (opens in a new window)CeADAR.
“This collaboration unites Ireland’s most ambitious industry and research partners to push quantum from lab to impact,” said Jason Lynch, CEO of Equal1.
“Together we’ll co-develop algorithms, hardware, and software aimed at real-world breakthroughs in energy, climate, materials, and pharmaceuticals.”
Biosimulytics provides a predictive technology platform for in-silico development of new drug molecules.
“As part of this DTIF project, we’ll be working together with some of the leading players in the field of quantum computing,” said Peter Doyle, CEO and co-founder of Biosimulytics.
“Quantum algorithms offer incredible potential to further revolutionise the speed and success rates in developing new medicine in the pharmaceutical industry through the use of predictive technologies.”
The DTIF is a €500 million fund managed by the Department of Enterprise, Tourism and Employment, with administrative support from Enterprise Ireland.
Its purpose is to support investment in the development and deployment of disruptive technologies and applications on a commercial basis.
“This funding is empowering companies and research institutions nationwide to attract top-tier graduates to work on cutting-edge technologies,” said James Lawless TD, Minister for Further and Higher Education, Research, Innovation and Science.
“It’s also creating a vibrant pipeline of opportunities for research graduates, whether through direct employment or the development of spin-out ventures.”
Earlier this year, Equal1 unveiled Bell-1, the world’s first silicon-based quantum computer server. Bell-1 is also the first ever Irish-made quantum computer.
By: Rebecca Hastings, Digital Journalist, UCD University Relations (with materials from Micéal Whelan, UCD Research and Innovation)
To contact the UCD News & Content Team, email: newsdesk@ucd.ie
