Overview
Problem
Develops platform-agnostic software to enhance the performance of existing quantum processors, enabling more complex quantum computations.
The quantum computing market is expected to create hundreds of billions of annual value creation between 2030-2040. However, there is one key issue holding the market back. The fact that currently quantum computers are susceptible to noise, leading to error-prone outputs. This is a huge barrier regarding the scalability of quantum computers because as one operation goes haywire, the error multiplies with the subsequent operations, leading to an inaccurate output.
Solution
Haiqu develops quantum computing software that drastically improves the efficiency of the device, i.e. reducing the impact of noise, and decreasing the cost of computation. Haiqu is extracting value creation out of the current error-prone quantum computers, and is accelerating the timeline to reach full-scale, error-tolerant quantum computing. Haiqu achieves this through enabling quantum algorithms which were deemed unattainable with today’s systems, to be ran. Haiqu’s software essentially acts as a booster for quantum hardware to enhance its capabilities, regardless of its error-prone issues, allowing 100x deeper circuits to be ran. On top of that, Haiqu customer feedback has alluded that their software performs significantly better than their closest competitors, which are the likes of Q-CTRL, when running the same circuits.
Market
By 2035, the quantum computing market is expected to reach between $28-$72B, which is believed to be highly conservative, as a lot of additional addressable market will come from completely new use cases uncovered using quantum computing. Similar to the horizontal layer that AI has formed on top of virtually all industries, quantum computing is poised to have a similar effect across an abundance of sectors, primarily financial services, pharmaceuticals, cryptography, climate, and others. The quantum computing software market is in its nascency and there is ample room for software players to vie for market dominance in the currently fragmented space.
Founders
Haiqu was incubated within a lab in Toronto by CEO, Richard Givan, and CTO, Mykola Maksymenko. Richard Givhan is a Stanford University Physics alumni and previously worked at Mitsubishi Electric. Mykola was head of R&D at a global consultancy SoftServe Inc, and a former researcher at the prestigious Max Planck Society, and the Weizmann Institute of Science. The team went from 2 to over 20 researchers filled with deep quantum experience, as many colleagues have achieved pioneering milestones in the quantum computing landscape.
Richard Givan
CEO
Mykola Maksymenco
CTO
Summary
Haiqu’s technology is accelerating the quantum computing market by reducing the time to get to full-scale commercialisation of the technology. The hardware and application agnostic nature of the software opens up a significant market opportunity for Haiqu to scale rapidly with the growth of the wider quantum computing market. With several patents, Haiqu has a strong technology moat and is using an innovative method to solve a critical bottleneck in the quantum computing sector. Additionally, Haiqu is conducting pilots with the likes of Airbus and BMW, demonstrating their growing commercial traction.