Former Australian of the Year Michelle Simmons is undeterred by the tech market as she starts a funding round for her five-year-old quantum company backed by Telstra, CBA and the government.
“In general, I think the quantum computing market is very hot and lively at the moment, so from a quantum perspective it’s a good time,” Professor Simmons said.
A quantum computer would prove infinitely more powerful than a classical computer for making complex calculations and decisions, and SQC’s corporate backers have been involved not just for the potentially lucrative future financial returns, but also to learn and influence development.Professor Simmons said SQC was in discussion with its existing backers about follow-on investment.
“The key things we’re excited about is that we have got these milestones down, which we’ve been hitting, and some of those ahead of time.”While she cannot publicly discuss details yet, Professor Simmons said she was confident the upcoming publication of a “big milestone” would generate excitement among investors and also reverberate around the manufacturing sector in Australia.
“The existing global semiconductor industry is built around silicon technologies, which we believe gives SQC significant competitive advantage, and we are starting to work with SQC on our first financial use cases.”
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