Novo Holdings commits €188 million to build a quantum technology start-up ecosystem.
Takeaway Points
- Novo Holdings commits €188 million to build a quantum technology start-up ecosystem.
- The aim is to set up a global innovation hub for quantum technology in Denmark.
- The Danish government has committed DKK 1.2 billion (€160 million) to quantum technology research.
What did Novo Holdings do?
The holding and investment company Novo Holdings said on Wednesday it committed DKK 1.4 billion (€188 million) to build a quantum technology start-up ecosystem. The aim is to set up a global innovation hub for quantum technology in Denmark. According to the firm, with Denmark as the centre of gravity, the ambition is to invest in, support, and advance some of the world’s most promising quantum technology companies with applications in the life sciences.
Novo Holdings said that, with the current momentum in Denmark, there is potential to establish a global innovation hub for quantum technology. To achieve this, a vibrant seed and venture capital investment ecosystem is essential, and that is exactly what Novo Holdings aims to accomplish.
Søren Møller, Managing Partner, Seed Investments, Novo Holdings, said that their goal is to grow and develop strong quantum technology companies in the Nordics.
“Quantum technology is a disruptive and transformative field that can revolutionise various sectors and address global challenges. Combining Novo Holdings’ longstanding experience in developing the life sciences ecosystem in the Nordics with the quantum activities and commitment from the Novo Nordisk Foundation provides a very powerful platform for building quantum startups. Our ultimate goal is to create, grow and develop strong quantum technology companies in the Nordics,” Soren said.
Lene Oddershede, Senior Vice President, Natural & Technical Sciences, Novo Nordisk Foundation, said: “There is a substantial demand for investments in the quantum space to harvest the potential of the emerging quantum technologies. A strong quantum ecosystem based on knowledge, networks comprised by all relevant partners, and with sufficient capital is instrumental to guarantee the further development and commercialisation of quantum research enabled by the Novo Nordisk Foundation, the Danish state, and the BioInnovation Institute’s (BII) Deep Tech Lab – Quantum. We foresee significant developments in this area, both imminently and over a longer horizon. Success, however, hinges on our ability to fully leverage the potential of the quantum technologies by realising the full value chain and establishing robust partnerships.”
Setting up a quantum technology hub in Denmark aligns with a number of recent initiatives by the Novo Nordisk Foundation, notably the establishment of the Novo Nordisk Foundation Quantum Computing Programme (NQCP), that aims to establish one of the world’s first fully functional and generally applicable quantum computers, and The Quantum Foundry, a limited liability company fully owned by the Novo Nordisk Foundation with the purpose of developing quantum materials and quantum chips as well as the associated fabrication tools, the report stated.
The Danish government has committed DKK 1.2 billion (€160 million) to quantum technology research. This, combined with the grants from the Novo Nordisk Foundation and other contributors, makes Denmark’s per capita investments in quantum technology the highest in the world today, Novo said.
About Novo Holdings
Novo Holdings is a holding and investment company that is responsible for managing the assets and wealth of the Novo Nordisk Foundation. The purpose of Novo Holdings is to improve people’s health and the sustainability of society and the planet by generating attractive long-term returns on the assets of the Novo Nordisk Foundation.
