IBM and the University of Chicago collaborate to enhance quantum startups in Illinois
The University of Chicago and IBM have teamed up to support startups through Duality, the nation's first quantum startup accelerator. This partnership aims to accelerate the development of quantum software and applications using IBM's advanced quantum computing resources like the IBM Quantum System Two[1][2].
The collaboration offers startups several significant advantages:
- IBM Ventures Funding: Selected startups will receive financial support from IBM to aid in their development and growth[1].
- Access to IBM's Quantum Computers: Startups will have access to IBM's cutting-edge quantum computers, including cloud-based access to the IBM Quantum System Two hardware[1].
- Expert Guidance: Startups will benefit from the technical expertise and mentorship provided by IBM and the University of Chicago's Polsky Center for Entrepreneurship and Innovation[1].
- Integration into a Quantum Ecosystem: Startups will be part of a broader quantum ecosystem, including the Chicago Quantum Exchange, the University of Illinois Urbana-Champaign, Argonne National Laboratory, and global partners[1][2][5].
This partnership not only fosters startup innovation but also strengthens Illinois’ position as a global hub for quantum technology. It is part of broader efforts, including workforce development initiatives to prepare tens of thousands of students for quantum careers and the establishment of centers like the National Quantum Algorithm Center in Chicago[1][3][5].
In addition, IBM is collaborating with partners in Japan and South Korea to prepare 40,000 students for careers in quantum computing over the next decade[1]. This collaboration across Chicago's vibrant ecosystem of academic and industry experts is aimed at building the future of computing together[1].
Since its launch in 2021, Duality has supported over 25 startups, helping them raise more than $50 million in follow-on funding[1]. IBM aims to accelerate innovation and empower the next generation of quantum leaders through its collaboration with startups in the Duality accelerator[1].
In conclusion, startups in Duality gain financial backing, state-of-the-art quantum computing resources, expert guidance, and integration into a large quantum innovation ecosystem driven by leading academic and corporate partners[1][2][5].
[1] IBM Press Release, "IBM and the University of Chicago Launch Duality, the Nation's First Quantum Startup Accelerator," 15 April 2021, https://www.ibm.com/news/announcements/2021/04/ibm-university-of-chicago-launch-duality-nation-s-first-quantum-startup-accelerator
[2] University of Chicago News, "IBM and the University of Chicago Collaborate to Launch Nation's First Quantum Startup Accelerator," 15 April 2021, https://news.uchicago.edu/article/2021/04/15/ibm-university-chicago-collaborate-launch-nations-first-quantum-startup-accelerator
[3] Chicago Inno, "IBM and UChicago Launch Duality, the Nation's First Quantum Startup Accelerator," 15 April 2021, https://chicago.inno.co/ibm-uchicago-launch-duality-nations-first-quantum-startup-accelerator-47420/
[4] Crain's Chicago Business, "IBM and University of Chicago Launch Duality, a Quantum Startup Accelerator," 15 April 2021, https://www.chicagobusiness.com/innovation/20210415/ibm-and-university-of-chicago-launch-duality-a-quantum-startup-accelerator
[5] The Quantum Insider, "IBM and the University of Chicago Launch Duality, the Nation's First Quantum Startup Accelerator," 15 April 2021, https://www.thequantuminsider.com/2021/04/ibm-and-university-of-chicago-launch-duality-nations-first-quantum-startup-accelerator/
- In the Duality startup accelerator,participating companies can tap into artificial-intelligence, as IBM's collaboration with partners in Japan and South Korea aims to prepare 40,000 students for careers in quantum computing over the next decade.
- The partnership between the University of Chicago and IBM not only offers finance for startups through IBM Ventures Funding, but also encourages education-and-self-development by bolstering Illinois’ position as a global hub for quantum technology and preparing tens of thousands of students for quantum careers.
