Institute of Physics Launches Enterprise Innovation Award in UK

LONDON, Nov. 10, 2022 — The Institute of Physics (IOP) right this moment introduced its continued push for development within the quantum applied sciences sector by launching a Quantum Enterprise Innovation and Development Group (qBIG) award, in collaboration with Quantum Exponential, the UK’s first enterprise enterprise capital fund targeted on quantum expertise. The celebrated award is concentrated on supporting the innovation and commercialisation of quantum applied sciences.

Winners of the qBIG Award will safe £10K in an unrestricted money prize, alongside 10 months of mentoring from the progressive Quantum Exponential funding crew. In tandem with entry to Quantum Exponential’s in depth community, this chance will consequence within the winner having one of the best probability of future success of their subject. The winner can be linked to firms and alternatives by way of the IOP’s qBIG’s rising enterprise group of business quantum physicists, engineers, innovators and entrepreneurs. They may obtain six months of free use of the Institute of Physics’s Accelerator workspace and they are going to be profiled in IOP’s annual enterprise showcase exhibition. The Award winner is to be chosen by IOP’s qBIG Group committee, which incorporates enterprise leaders from Aegiq, Airbus, AnchoredIn, BAE Programs, Coherent, Chilly Quanta, Fraunhofer, Leonardo, NQCC, ORCA Computing, Oxford Devices, Quantum Base Alpha, Quantum Exponential, Quantum Cube, Slingby Companions, Thales, and Hint Ingredient.

Stuart Nicol, Chief Funding Officer, Quantum Exponential stated “Quantum Exponential is immensely proud to announce its relationship with such a prestigious establishment because the IOP. Working carefully with the Institute of Physics permits us to proceed our concentrate on the commercialisation of UK quantum by supporting a broader portfolio of potential investments financially in addition to with broader help by means of, for instance, mentoring. We hope that the sponsorship of IOP’s new innovation award will assist drive elevated help from throughout the trade and assist speed up market readiness.”

Anne Crean, Head of Science and Innovation from the Institute of Physics added “We’re delighted that Quantum Exponential has agreed to not solely be a founding member of the Quantum Enterprise Innovation and Development Group however to additionally sponsor our new innovation award. We hope that this Award will present important assist to small and medium-sized companies that need to succeed within the UK’s ever-growing quantum expertise sector.”

Richard Tatham, Mental Property Counsel from ORCA Computing stated “It’s implausible to see the announcement of a joint partnership between the Institute of Physics and Quantum Exponential plc and their sponsorship of the qBIG Award. Awards like these are so necessary in serving to SME companies get the mandatory publicity that may assist them succeed within the quantum applied sciences trade.”

qBIG member, Dr Harriet van der Vliet, Product Section Supervisor – Quantum Applied sciences at Oxford Devices NanoScience said, “For the UK to be a shining gentle in Europe’s quantum trade, we’d like extra help from throughout the ecosystem, such because the qBIG Award. It’s, due to this fact, sensible to see personal firms enjoying their half in pushing the UK’s quantum trade ahead by sponsoring prestigious awards, in addition to investing in SMEs that may make a distinction within the quantum area.”

In an effort to be eligible for the Award, firms/organizations should meet the next standards:

• Means to ship an progressive product/answer that’s both quantum-enabled or is for the quantum sector
• SME integrated both within the UK or Eire, with a sound marketing strategy aiming for revenue
• Market validation for the product, ideally with a buyer
• Plan displaying how the prize cash would add worth to their group
• An intention to hunt exterior fairness funding in an effort to assist speed up the expansion of what you are promoting.

To make an software, all candidates should full and submit a kind by way of the beneath hyperlink earlier than the marketed cut-off date of 16/01/2023.

About Quantum Exponential Group

Quantum Exponential is a first-of-its-kind, AQSE Development Market enterprise firm, targeted on alternatives in quantum expertise and the broader quantum computing sector, with an advisory board made up of trade advisors, entrepreneurs, and expertise funding professionals with broad entry to quantum alternatives and markets. Quantum Exponential’s funding technique is to assemble a portfolio of minority investments in early-stage international quantum expertise firms, primarily in NATO-allied international locations, providing institutional and personal traders entry to revolutionising applied sciences and industries within the realms of synthetic intelligence, manufacturing and healthcare. Quantum Exponential trades on AQSE Development Market underneath the ticker image “QBIT’.

In regards to the Institute of Physics

The Institute of Physics (IOP) is the skilled physique and discovered society for physics within the UK and Eire, with an energetic position in selling cooperation in physics around the globe. IOP try to make physics accessible to folks from all backgrounds. IOP’s 21,000 members display their skilled experience in physics in settings starting from colleges, universities and nationwide analysis amenities to companies of all sizes, and in roles as various as a instructor, researcher, apprentice, technician, engineer and product developer.

Supply: IOP