After going through a competitive bidding process, the Government of Finland has selected IQM to build its first quantum computer. IQM will be working with VTT, a state-owned non-profit corporation on this project and the project will have a budget of €20.7 million (about $24.5 Million USD). The ultimate goal of the project will be to have a 50 qubit device by 2024. But there will be interim steps with an initial goal of having a 5 qubit device within the next 12 months. IQM was founded as a spinoff from a research group at Aalto University. The company is developing superconducting based quantum computers with additional proprietary technology that provides performance advantages for reset, gates, and readout. IQM also announced earlier this month a Series A funding round for €39 Million ($46M USD). For more on this announcement, you can read the news release on the IQM web site here.
November 16, 2020