Tech Mahindra, a provider of digital transformation, consulting, and business re-engineering services and solutions, and IQM Quantum Computers, the quantum computers company, have signed a Memorandum of Understanding (MoU) for research in quantum computing.
The organizations will explore synergies in mutually beneficial areas of quantum computing, cryptography, and communication tech. They will jointly develop new quantum computing offerings for various industries including healthcare, cyber security, and banking, among others. They will further co-develop and market quantum tech use cases in India and Finland.
What does the partnership mean for Tech Mahindra?
Tech Mahindra has been working to accelerate the adoption and commercialization of quantum tech. The organization is also setting up its Quantum Centre of Excellence – QNxt in Helsinki, Finland. With the partnership with IQM Computers, both organizations will further strengthen their research and design capabilities and quantum computing offerings.
The partnership will combine Tech Mahindra’s industry knowledge in quantum computing, including hybrid algorithms, quantum machine learning, and quantum simulation, along with IQM’s leading expertise in superconducting quantum hardware, quantum algorithm development capabilities, and its unique application-specific, Co-Design approach.
Commenting on the partnership, Nikhil Malhotra, Global Head, Makers Lab, Tech Mahindra, said, “The fabric of computation is changing and Quantum Computing is the harbinger for that change. It promises to address the challenges that can’t be solved using current computation techniques and empowers us to re-imagine customer experience & move towards a sustainable future at a time when energy requirements have become unsustainable.”
“At Tech Mahindra, riding this wave of change, we have collaborated with IQM Computers with an aim to set new standards in the research and development of commercially viable use cases across industries. We are confident that this help Tech Mahindra and IQM Computers expand their global footprints in Quantum Computing by leveraging synergies.”
This partnership is in line with Tech Mahindra’s NXT.NOW™ framework, which aims to enhance ‘Human Centric Experience’, and focuses on investing in emerging technologies and solutions that enable digital transformation and meet the evolving needs of the customer.
What does the partnership mean for IQM?
Dr. Juha Vartiainen, Chief Operating Officer and Co-founder of IQM Quantum Computers, commented, “This announcement highlights our commitment towards India and our commitment to accelerate the global ecosystem through collaboration. We are pleased to partner with Tech Mahindra to explore business synergies and develop industry use cases across a range of sectors thanks to their strong software and emerging tech capabilities.”
“Along with the govt, academia, and industry, the Indian quantum ecosystem is growing rapidly, and we are excited to see companies such as Tech Mahindra leading this growth.”
Finland and India have strong ties in science, tech, and innovation and both are working towards establishing the Indo-Finnish Virtual Network Center for quantum computing.
The Indian govt plans to invest INR 8,000 crores (US$1Billion) to the quantum industry over the next five years in various programmes. Finland, on the other hand, has one of the world leading quantum ecosystems, with decades of research in quantum technologies, and a strong government support, venture capital community and research network.