The Boston Globe reports that “More money is starting to flow into the nascent field of quantum computing in Boston, turning academic research at MIT and Harvard labs into startups.”

In September, Northeastern University announced it will build a $10 million lab at its Burlington campus to explore applications for quantum technology, and to train students to work with it. And companies based in other countries are setting up outposts here to hire quantum-savvy techies….

“It’s still pretty early” for quantum computing, says Russ Wilcox, a partner at the venture capital firm Pillar. “But a number of companies are starting to experiment to learn how to make use of it. The key factor is that the field is progressing at an exponential rate.” In 2018, his firm made an early investment in Zapata Computing, a Boston startup building software for quantum computers and selling services — including ways to analyze the new cybersecurity risks that a powerful new class of computers could introduce….

In the current fiscal year, the federal government budgeted about $900 million to advance the field of quantum information science, which includes quantum computing….

[S]everal local venture capital firms are getting comfortable with placing bets on the quantum computing sector. Glasswing’s Rudina Seseri says that her firm is “seeing momentum pick up,” although the sector is “still in the warm-up phase, not yet in the first inning.” But some of the technology being developed by startups, she says, “is so meaningful that if they get the technology to work at scale, they will be incredibly valuable.”

That said, much of the revenue available to these companies today comes from researchers in academic and corporate labs trying to understand the potential of quantum computers. Sam Liss, an executive director in Harvard’s Office of Technology Development, thinks that “the large commercial opportunities for quantum are still a long way off.” The OTD helps attract corporate funding to Harvard research labs, and also helps to license technologies created in those labs to the private sector. “Technologies have a way of getting oversold and overhyped,” Liss says. “We all recognize that this is going to take some time.”

Large companies like Amazon, Google, and IBM are trying to move the field forward, and startups are beginning to demonstrate their new approaches. In the startup realm, Liss says, we’re seeing enough new companies being formed and attracting funding “to support a thesis that this will be a big thing.”

Read more of this story at Slashdot.

Source: Slashdot – Is Quantum Computing Moving from Theoretical to Startups?