Jan Goetz of IQM shared insights at TNW Conference, highlighting that quantum computing can earn revenue sooner than expected. Unlike the common belief of a decade before profitability, IQM generates income by selling early-stage quantum machines to state-funded research institutions, similar to SpaceX's initial rocket strategy. Founded in 2018, IQM has sold 13 quantum computers and has a strong booking pipeline. However, Goetz emphasizes that financial backing is crucial for Europe's competitiveness against tech giants like the US and China.
When we started, it was a classic deep tech case, and people thought revenue would be five to 10 years out, but that's not true. You can make money already.
Rather than wait for a fully mature product, we focused on selling quantum computers to state-funded research institutions, similar to how SpaceX sold early rockets to clients.
The biggest challenge for quantum computing isn't technological, but financial. Without serious capital, Europe won't compete effectively with the US or China.
While Europe has excellent universities, the critical question is whether we can scale them into competitive businesses and industries.
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