1QBit

{{Short description|Quantum computing software company based in Vancouver}}

{{Infobox company

| name = 1QB Information Technologies Inc.

| logo = 1QBit_Corporate_Logo.svg

| type = Privately held company

| foundation = {{start date|2012|12|1}}

| location_city = Vancouver, British Columbia

| location_country = Canada

| key_people= {{plainlist|

Andrew Fursman
Landon Downs

}}

| industry = Software

| num_employees = 100 (2020)

| subsid =

| homepage = {{URL|http://www.1qbit.com/}}

}}

1QB Information Technologies, Inc. (1QBit) is a quantum computing software company, based in Vancouver, British Columbia. 1QBit was founded on December 1, 2012{{cite news|title=Founding of 1QBit|url=http://1qbit.com/founding-of-1qbit/|date=December 1, 2012|access-date=May 26, 2016|archive-date=February 10, 2019|archive-url=https://web.archive.org/web/20190210044446/https://1qbit.com/founding-of-1qbit/|url-status=dead}} and has established hardware partnerships with Microsoft, IBM, Fujitsu and D-Wave Systems.{{cite news|title=D-Wave Systems Building Quantum Application Ecosystem, Announces Partnerships with DNA-SEQ Alliance and 1QBit|url=http://www.dwavesys.com/press-releases/d-wave-systems-building-quantum-application-ecosystem-announces-partnerships-dna-seq|date=June 9, 2014|access-date=June 17, 2014|archive-date=June 14, 2014|archive-url=https://web.archive.org/web/20140614024823/http://www.dwavesys.com/press-releases/d-wave-systems-building-quantum-application-ecosystem-announces-partnerships-dna-seq|url-status=dead}} While 1QBit develops general purpose algorithms for quantum computing hardware, the organization is primarily focused on computational finance, materials science, quantum chemistry, and the life sciences.{{cite web|url=http://1qbit.com/research.html|website=1QBit.com|title=Research Papers|accessdate=16 June 2014|archive-url=https://web.archive.org/web/20140619053448/http://www.1qbit.com/research.html|archive-date=2014-06-19|url-status=dead}}

Technology

1QBit has divisions focused on universal quantum computing, advanced AI techniques, cloud based quantum processing, and hardware innovation.

1QBit's 1Qloud platform is focused on optimization including reformulating optimization problems into the quadratic unconstrained binary optimization (QUBO) format necessary to compute with quantum annealing processors and similar devices from organizations such as Fujitsu, D-Wave, Hitachi and NTT, while their QEMIST platform is focused on advanced materials and quantum chemistry research with universal quantum computing processors.{{cite journal|last1=Dion|first1=Marco|journal=J.P. Morgan Equity Quant Conference 2013|date=November 4, 2013|volume=6|page=12|url=http://www.quantresearch.info/JPM_CONFERENCE_SUMMARY_2013.pdf|title=Europe Equity Research|accessdate=16 June 2014}}

History

1QBit was founded as the first dedicated quantum computing software company in 2012.{{cite web|title=CNBC Exponential Finance|date=8 May 2014 |url=https://www.cnbc.com/phil-goddard/|publisher=CNBC|accessdate=14 April 2016}} In 2013, 1QBit raised seed funding from US and Canadian angel investors, before closing a Series A financing round led by the Chicago Mercantile Exchange in 2014.{{cite news|last1=Marek|first1=Lynne|title=CME makes a new bet on the future|url=http://www.chicagobusiness.com/article/20140503/ISSUE01/305039965/cme-makes-a-new-bet-on-the-future|accessdate=16 June 2014|publisher=Crain's Chicago Business|date=May 5, 2014}}

On August 5, 2015, the World Economic Forum announced 1QBit as a recipient of the 2015 Technology Pioneer Award{{cite web|title=2015 Technology Pioneers|url=http://widgets.weforum.org/techpioneers-2015b/|website=The World Economic Forum|accessdate=16 August 2015}} recognizing 1QBit as a leader among the world's most promising technology companies.{{cite news |last1=Shaw |first1=Gillian |date=August 5, 2015 |title=Vancouver company named among world's most promising tech pioneers |work=Vancouver Sun |url=https://vancouversun.com/technology/Vancouver+company+named+among+world+most+promising+tech+pioneers/11268818/story.html |url-status=dead |accessdate=August 16, 2015 |archive-url=https://web.archive.org/web/20150809001734/http://www.vancouversun.com/technology/Vancouver+company+named+among+world+most+promising+tech+pioneers/11268818/story.html |archive-date=August 9, 2015}} In 2017, 1QBit raised a $45M Series B financing round led by Fujitsu with participation from Allianz, Accenture, The Royal Bank of Scotland and the Chicago Mercantile Exchange.{{cite news |last1=Greenwood |first1=Max |date=November 28, 2017 |title=1QBit Announces $45 Million Series B and Partners with Accenture |publisher=Tech Vibes |url=https://techvibes.com/2017/11/28/1qbit-secures-45-million-series-b-partners-with-accenture |accessdate=Feb 6, 2019}} In April 2018, 1QBit joined the IBM Q Network, a global community of leading Fortune 500 companies, academic institutions, startups, and national research labs designed to explore practical applications for quantum computing.{{Cite web|url=https://www.bctechnology.com/news/2018/4/6/Vancouver-Based-1QBit-Joins-the-IBM-Q-Network-to-Explore-Practical-Applications-for-Quantum-Computing.cfm?v=2|title=Vancouver-Based 1QBit Joins the IBM Q Network to Explore Practical Applications for Quantum Computing|website=bctechnology.com|access-date=2020-03-18}}

In May 2020, 1QBit and its collaborators serving health authorities from East to West obtained support from the Digital Technology Supercluster to facilitate the clinical implementation of XrAI, the first Artificial Intelligence (AI) radiology platform to be accredited by Health Canada as a Class III Medical Device.{{Cite web|date=7 May 2020|title=1QBit and Canadian health care providers team up to empower front-line clinicians with Health Canada's first approved AI tool for radiology in the fight against COVID-19|url=https://www.prnewswire.co.uk/news-releases/1qbit-and-canadian-health-care-providers-team-up-to-empower-front-line-clinicians-with-health-canada-s-first-approved-ai-tool-for-radiology-in-the-fight-against-covid-19-811944524.html|url-status=live|archive-url=https://web.archive.org/web/20200515165049/https://www.prnewswire.co.uk/news-releases/1qbit-and-canadian-health-care-providers-team-up-to-empower-front-line-clinicians-with-health-canada-s-first-approved-ai-tool-for-radiology-in-the-fight-against-covid-19-811944524.html |archive-date=2020-05-15 |access-date=28 August 2020|website=Cision PR Newswire}}

Locations

1QBit is headquartered in Vancouver, British Columbia, Canada.{{cite web|title=Contact Us|url=http://1qbit.com/contact-us/|website=1QBit Website|accessdate=25 May 2016}} In early 2019, 1QBit opened a hardware innovation lab at the University of Waterloo in Waterloo, Ontario.