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New spin-off for quantum optimisation

Wolfgang Lechner and Magdalena Hauser © ParityQC

Solutions to complex optimisation problems calculated today on the biggest supercomputers could be developed much more quickly and efficiently in the future. For this reason, quantum optimisation is considered to be the most promising initial application for quantum computers.

ParityQC GmbH, the company founded in Innsbruck, aims to set the worldwide standard for quantum optimisation. In this regard, the company is benefitting from the international race to find the best quantum byte and the best algorithm. The architecture developed by the University of Innsbruck and the Austrian Academy of Sciences (AAS) and patented in the meantime offers fundamental advantages to all these platforms: it is programmable, scalable and parallelizable, thus comprising a unique combination. The Parity Quantum Computing Architecture enables quantum bytes to be fully programmable for optimisation problems for the very first time, something which has not yet been scalable up until now. The architecture also allows for the complete parallelizability of algorithms, which in turn prevents performance bottlenecks. ParityQC is developing the operating system ParityOS alongside the architecture because the company believes the development of software and hardware must take place jointly and simultaneously. ParityOS is a platform which automatically creates the compiler, the optimisation of algorithms and chip layouts.

"Austria is the global leader in the field of quantum physics. Accordingly, ParityQC has considerable potential to become a major player in the quantum computer market thanks to the excellent research carried out by Wolfgang Lechner", says the investor Hermann Hauser. Rector Tilmann Märk adds: "This spin-off from the university and the AAS is a further step towards turning Europe's leading edge in quantum technology into a commercial success. ParityQC is already the second quantum startup in the portfolio of the Uni-Holding of the University of Innsbruck.

Read the related blog called Coming back for seconds: Why big brands expand their (R&D) presence in Austria.

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