The immense potential of quantum computing to revolutionize industries was on display last month during IT Arena 2024 in the Ukrainian city of Lviv, with deep tech startup Haiqu showcasing its advancements in this field.
The company, which closed a $4M pre-seed financing round in 2023, focuses on improving the performance of quantum processors. During his presentation, Mykola Maksymenko, Haiqu’s CTO, explained the challenges of working on both technology development and its implementation.
Maksymenko, a former researcher at the Max Planck Society and the Weizmann Institute, emphasized that quantum computing is still in its early stages. He highlighted that while the technology holds great promise, its full potential is still being explored. “We’re just beginning to understand how quantum computing can be applied in practical ways,” Maksymenko said during the event.
Advancing quantum applications
Maksymenko explained that traditional computers, based on binary systems, are limited in their ability to solve complex problems. In contrast, quantum computers use qubits, which can represent multiple states at once, opening up new possibilities for tasks such as simulations in material science and industrial processes.
Haiqu’s software addresses some of the key challenges in quantum computing, such as noise and error rates. Their technology allows quantum algorithms to run deeper and more efficiently, potentially up to 100 times more than current capabilities.
Maksymenko shared examples of their work with partners like IBM, where Haiqu’s software demonstrated significant improvements in performance.
“It’s crucial to have a clear vision of what we can build with quantum computing, as it opens doors to applications we’ve only begun to imagine. Traditional computing has its limitations; it cannot solve complex problems in the same way that quantum computers can,” he noted during his presentation.
Real-world applications on the horizon
One of the highlights of the presentation was Haiqu’s recent success in reaching the finals of the Airbus-BMW Quantum Computing Challenge.
Their focus on computational fluid dynamics, which is used to simulate the aerodynamics of cars and airplanes, showed how quantum computing can offer more efficient and cost-effective solutions compared to traditional methods.
“We are already seeing real-world applications in fields like material science and computational fluid dynamics, showcasing the utility of quantum computing. Our technology not only enhances the performance of quantum processors but also addresses the challenges of noise and error rates that have hindered progress,” he explains.
Haiqu is also exploring other areas, such as life sciences and quantum dynamics, to find practical applications for their technology. While quantum computing is still developing, its potential to solve real-world problems is becoming clearer.
“Technology encompasses more than just advancements; it’s also about how we apply these innovations in practice. We are currently in the early stages of exploring utility applications within our community,” Maksymenko concluded.
