The two firms are expected to co-create innovative quantum computing offerings for a range of sectors including cyber security, healthcare, banking, and others
Tech Mahindra and IQM sign MoU on quantum computing research. (Credit: Business Wire)
Indian IT services company Tech Mahindra has signed a memorandum of understanding (MoU) with Finnish quantum computing company IQM Quantum Computers for research in quantum computing.
As a part of the collaboration, the companies will examine synergies in mutually beneficial fields of quantum computing, communication technologies, and cryptography.
The companies are expected to co-create innovative quantum computing offerings for a range of sectors including cyber security, healthcare, banking, and others.
Besides, the parties intend to jointly develop and market quantum technology use cases in India and Finland.
With its goal of expeditingg the adoption and commercialisation of quantum technology worldwide, Tech Mahindra is developing its quantum centre of excellence, dubbed QNxt in Helsinki, Finland.
Tech Mahindra makers lab global head Nikhil Malhotra said: “The fabric of computation is changing and Quantum Computing is the harbinger for that change.
“It promises to address the challenges that cannot be solved using current computation techniques and empowers us to re-imagine customer experience & move towards a sustainable future at a time when energy requirements have become unsustainable.
“At Tech Mahindra, riding this wave of change, we have collaborated with IQM Computers with an aim to set new standards in the research and development of commercially viable use cases across industries.
“We are confident that this collaboration will help Tech Mahindra and IQM Computers expand their global footprints in Quantum Computing by leveraging synergies.”
The collaboration is expected to bring together the capabilities of both parties in quantum computing.
It includes Tech Mahindra’s industry knowledge in quantum computing, which includes quantum machine learning, hybrid algorithms, and quantum simulation. These will be combined with IQM Quantum Computers’ expertise in superconducting quantum hardware, capabilities of quantum algorithm development, and its application-specific, Co-Design approach.
IQM Quantum Computers chief operating officer and co-founder Juha Vartiainen said: “This announcement highlights our commitment towards India and our commitment to accelerate the global ecosystem through collaboration.
“We are pleased to partner with Tech Mahindra to explore business synergies and develop industry use cases across a range of sectors thanks to their strong software and emerging technology capabilities.
“Along with the government, academia, and industry, the Indian quantum ecosystem is growing rapidly, and we are excited to see companies such as Tech Mahindra leading this growth.”
It is anticipated that the Indian government will make an investment of $1bn in the quantum industry through the next five years in various programmes.