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The core idea of QBee is to develop quantum software applications for companies. For the last several years, the quantum market has been largely focusing on the development of physical quantum bits, called qubits. That market is now turning towards quantum software.
This increases the need for industrial companies that will use the quantum hardware, reaching the market in a couple of years from now.
Challenges and objectives
Some qubit hardware technologies will mature and hit the commercial market but it is very difficult to predict which one. Independent of hardware development, there is a great need for industrial companies to develop their own quantum version of algorithms that solve their core problems.
Qbee is focusing mostly on the space industry and has a highly experienced team of scientists. The first person is professor Earth Observation (EO) who is working e.g. with NASA on those topics. She is especially a specialist of classical algorithms for EO. The second one is professor Quantum Computer Engineering, who started working with INTEL on developing a quantum computer. He focuses primarily on the quantum algorithms, with two of his collaboraters, who stil work at Delft University of Technology. The final member has a PhD in Chemistry and works on the quantum algorithms for many chemistry processes.
The QBee approach
QBee is known for promoting a novel quantum application research approach, complementary to the existing one but industrially oriented. We have completed earth observation, chemistry, genetics, and quantum security domain investigations, important in defining quantum-relevant use cases. First-version algorithms have been developed for genome sequencing, codon optimization, satellite image classification, and carbon dioxide (CO2) capture.
We are currently working on quantum defense and quantum in space, using the full stack that the TUDelft group of founders defined around 9-10 years ago. We focus on the use of perfect qubits and execute the quantum circuits on the perfect-qubit simulator. QBee can also go to a physical qubit chip, but these findings need to substantially improve before they can be used in an industrial context.
The AutoQSee branch, on the right of this figure, shows how we are currently building an operational version of the quantum library based on the different topics that we are currently developing.
QBee results and network
QBee is currently talking to several large industrial players and is negotiating a contract with a large European player regarding the Space market.
QBee participated in the international Quantum-Climate competition, organized by Deloitte GE, where 35 teams from all over the world participated. During the final event, taking place in Hannover, QBee found that they won that competition, as the QBee approach is to reason from, e.g. the chemistry background for a chemical problem.
Relevant to know, is that QBee was recently invited by the European Space Agency (ESA), to talk about QBee's approach for space. The message was very well received by the high-level ESA officials who said it was an original and quite disruptive approach. That conference, the 6th Quantum Technology Conference, took place in Italy during the last week of Sept. 2023.
Qbee has a very good network and is well integrated into the existing Ecosystem, consisting of organizations such as QuiC and QBN.
QBee IP policy
QBee needs investments for the next 5 years, for the following two reasons.
- R&D activities -70%-80%: quantum computing technology is still growing, but there is a growing need for quantum software developments. This will easily consume around 70%-80% of the activities. The budget will come, not only from customer contracts, but also from open calls from the EU and ESA.
- Marketing & Management - 20%-30%: marketing and overall management will consume around 20 to 30%.
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|Advised by a professional start-up advisor|
|Valuation is set by the co-investor or incubator|
|Co-investor or incubator will be members or observers to the board|
|At the closing, an incubator, accelerator, or studio will have shares|
|At the closing, the entrepreneurs have contributed a minimum of €15,000 in cash in exchange for shares|
|Raised €10,000 during a private phase|
|At the closing, a professional co-investor will have invested at least €25,000|
|Prior fundraising in equity or convertible loan with 10 or more investors|
|Minimum 2 active entrepreneurs|
|Valuation set by an organisation specialized in valuations of comparable size|
|Valuation is less than €1 million or 10x last year’s turnover|
|Committed by others||€0|
|Shares in the company (total round)||71.429%|
|Post-money valuation min.||€425,000|
|Post-money valuation max.||€1,400,000|