SoftBank, HorizonX, QAI Ventures to build Singapore quantum hub

[SINGAPORE] Global investor and quantum technologies ecosystem builder QAI Ventures is set to launch a specialised industry cluster in Singapore to accelerate the commercialisation of quantum-classical hybrid computing.

This hub will be backed by strategic partnerships with Japanese multinational investment holding company SoftBank and innovation firm HorizonX.

The three will establish a “global ecosystem designed to transition quantum innovation from laboratory research to industrial-scale implementation”.

Quantum technologies allow users to spend mere minutes solving complex problems that would take traditional supercomputers thousands of years. In theory, it could revolutionise medicine, energy, finance and other complex fields.

“By combining (capital, corporate clusters and world-class partnerships) with a hands-on venture-building engine, we look forward to moving Singapore’s quantum ambitions to full-scale enterprise readiness,” said QAI founder and chief executive Alexandra Beckstein.

This, she added, will directly boost the nation’s S$37 billion Research, Innovation and Enterprise 2030 plan.

The Switzerland-based firm’s CEO on Monday (Feb 23) told The Business Times that her company was drawn to Singapore due to its rich quantum research ecosystems and tech talent.

QAI last year launched its Asia-Pacific headquarters in Singapore, while unveiling an accelerator programme for startups and plans for venture building.

Cluster targets

Under the new partnership, the Industry Cluster Programs aim to unite industry leaders across communications and networks, financial services, industrials and life sciences to accelerate quantum technology adoption.

SEE ALSO

Quantum tech investor QAI Ventures eyes fresh bets in Singapore, India

Singapore invests S$37 billion in RIE2030 research plan; semiconductors, ageing among focus areas

The communications and networks cluster will include the telco, cybersecurity and data domains. It targets an “evolution of next-generation digital infrastructure”, with a focus on “ensuring long-term data sovereignty”.

In alignment with Monetary Authority of Singapore directives, members of the programme in banking, fintech and insurance will work to mitigate the “harvest now, decrypt later” threat while using quantum algorithms for high-speed derivative pricing and fraud detection.

The industrials cluster, comprising the energy, manufacturing and space industries, will leverage “Singapore’s strength in advanced manufacturing” as it aims to optimise complex supply chains and energy grid management. 

Meanwhile, the pharmaceuticals and healthcare industries will bridge the gap between biotechnology and compute power. This life sciences cluster will target breakthroughs in molecular simulation and drug discovery, aiming to reduce time taken for R&D.

Through a collaboration with the Massachusetts Institute of Technology Sloan School of Management, HorizonX will provide corporate leaders and innovation teams with the “practical frameworks required to transition from quantum awareness to true organisational capability”. 

“We are ensuring that Singapore’s industry leaders can move from awareness to implementation with confidence,” said HorizonX CEO Steve Suarez.

SoftBank will meanwhile act as a link between artificial intelligence technologies and quantum infrastructure, supporting the development of “scalable platforms” for future uses such as autonomous mobility.

QAI Ventures will also leverage its Venture Building Program in Singapore, where it will take operational ownership of business strategy, allowing academic founders to “focus on technical excellence”.

This programme will last just under 16 months, going from the discovery stage to the proof-of-concept stage, and finally to the minimum-viable-product stage. “The future of global competitiveness will be decided by those who can successfully merge quantum and AI into a singular industrial force,” said Beckstein.

“With our industry clusters and partners like SoftBank and HorizonX, we are building the resilient, hybrid-compute ecosystem that will serve as the backbone for Singapore’s economy in 2030 and beyond.”