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QC Ware Wins BPIFrance Concours d'Innovation i-Nov Award to Accelerate Quantum Machine Learning in France

QC Ware France, a wholly owned subsidiary of the quantum computing-as-a-service company QC Ware, today announced that it has been selected as one of the thirty-two winners of the BPIFrance Concours d'Innovation i-Nov award. This grant program is highly competitive and hosted by BPIFrance, the esteemed French public investment bank.

Press release from QC Ware
April 9th 2020 | 1714 readers

Photo by Alexander Kagan on Unsplash
Photo by Alexander Kagan on Unsplash
The grant supports innovative projects carried out by startups and SMEs and provides funding to companies developing technology that have high potential to impact the French economy and beyond. QC Ware won its award within the program's "deep tech" category for research that will push the envelope on Quantum Machine Learning, one of the most promising applications of quantum computing. QC Ware is the only quantum computing company to have received this award.

"QC Ware is experiencing dynamic growth across several industries, proving that there is a practical path for quantum computing applied to solving complex enterprise challenges worldwide. BPIFrance recognizes the tremendous potential of quantum computing," said Matt Johnson, QC Ware CEO. "By granting QC Ware the Concour d'Innovation i-Nov award BPIFrance acknowledges that QC Ware will strategically help enterprises in the future. We are honored to receive such a prestigious award."

QC Ware is a quantum computing software company that develops among others computational finance applications that run on quantum computers. By harnessing the properties of quantum physics, quantum computers have the potential to navigate through a vast number of possibilities and come up with a probable solution faster.

QC Ware has worked extensively with institutions in the financial sector, helping them to explore how quantum computing could be used to speed up financial calculations and AI-based decision making. QC Ware's work in this space includes collaborating with Goldman Sachs to gain in-depth knowledge on the near term impact of quantum computers and on the development of new algorithms that will enable quantum computers to outperform concurrent classical computers for computational finance applications.

QC Ware France's BPIFrance grant project will focus on Quantum Machine Learning, involving creating software tools for classical data scientists, with capabilities for classification, clustering and reinforcement learning. This research will go toward adding features to Forge, QC Ware's cloud service. QC Ware developed Forge to enable large enterprises and public-sector organizations to start building quantum skills and prepare for the potential disruption that quantum computing will bring to the market in the near future.

Iordanis Kerenidis, Head of Quantum Algorithms International at QC Ware, led QC Ware France's submission to BPIFrance. At QC Ware, Kerenidis oversees the design and development of quantum algorithms for machine learning. He is also director of the Paris Centre for Quantum Computing (PCQC) and one of the world leaders in the field of quantum machine learning. His work has been highly influential in the quantum machine learning community.

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