ESPOO, Finland – (COMMERCIAL THREAD) –IQM quantum computers (IQM) expands its activities to Spain by creating a subsidiary in Bilbao. This operation was supported by the Basque local administration via the Provincial Council of Biscay and the Town Hall of Bilbao.

With its operations in Spain, IQM aims to operate another hotspot for quantum computing in addition to its offices in Finland and Germany. IQM Spain will work closely with the local research community, quantum experts from academia and industry to build a vibrant Spanish and European quantum ecosystem. IQM and its network of international partners will also connect the Spanish quantum ecosystem to the global quantum network.

“The QUTIS Center at the University of the Basque Country in Bilbao has exceptional experience and experts in quantum computation and simulation, quantum control, quantum detection and other fields. Today’s announcement demonstrates our commitment to accelerate the success of our application-specific quantum computers and to aggressively develop quantum finance offerings for our customers around the world, ”said Jan Goetz, CEO of IQM. “The local public administration, via Beaz and Bilbao Ekintza, has been extremely supportive and committed to attracting the best talent and growing companies. We look forward to working with their team to grow our co-design offering from Spain and deliver it globally. ”

The technical objective of this Spanish subsidiary is to create a quantum finance co-design pole that tightens the interaction between hardware and software to solve finance problems. In particular, IQM Spain will develop an application specific approach where quantum software integrates tightly with appropriately designed quantum hardware with new quantum architectures. Together with IQM’s hardware experts and marketing teams in Finland and Germany, IQM will be able to deliver this offering to customers around the world. This approach accelerates the development of quantum solutions useful for specialized financial applications and will make Spain and Europe leaders in quantum finance.

Last year, IQM also entered into a research agreement with the University of the Basque Country (UPV / EHU) in Bilbao, a collaboration led by Dr Jorge Casanova (Ramón y Cajal and Ikerbasque researcher at UPV / EHU) and includes Dr. Mikel Sanz (Ikerbasque Researcher at UPV / EHU) and Prof. Xi Chen (Professor at the University of Shanghai and researcher Ramon y Cajal at the UPV / EHU).

Ms. Olatz Goitia, Managing Director of Beaz, said: “We are working to make the territory an innovation hub of international reference, and to this end, the retention and attraction of talent and entrepreneurship and companies like IQM are essential ”.

Mr. Javier Garcinuño Zabala, Managing Director of Bilbao Ekintza, said: “We are delighted to see European growth companies like IQM start their Spanish operations in Bilbao. Our entrepreneurship center BIG Bilbao will support their local operations and Bilbao Ekintza will also collaborate with IQM on joint projects in the strategic economic sectors of Bilbao.

About Beaz:

Beaz is a public company of the Provincial Council of Biscay whose objective is to support companies and entrepreneurs in their efforts to create new projects, innovate and internationalize. An objective that matches that of the Regional Directorate for Economic Promotion, on which Beaz directly depends: to contribute to the growth of economic activity and the creation of qualified jobs.

About Bilbao Ekintza:

Bilbao Ekintza is a public company of the City Council of Bilbao that develops municipal competences in the field of economic development, the promotion of Bilbao and its events as a tourist destination and the promotion of businesses, both from the point of view of the attraction, creation and growth of businesses and the improvement of employment opportunities.

About IQM quantum computers:

IQM is the European leader in superconducting quantum computers, headquartered in Espoo, Finland. Since its inception in 2018, IQM has over 110 employees and has established a subsidiary in Munich, Germany, to lead the co-design approach.

IQM provides on-site quantum computers for research laboratories and high-performance computing centers and provides full access to its hardware. For industrial customers, IQM offers a quantum advantage through a unique application-specific co-design approach.

IQM built Finland’s first commercial quantum computer with mountain bike, and a Consortium led by IQM received € 12.4 million in February 2021 to market application-specific quantum processors by the German Ministry of Education and Research.

For more information visit

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IQM Finland Oy

Keilaranta 19

02150 Espoo