In the tech-driven world of entrepreneurship, there’s something exhilarating about building hardware that could redefine computing. When I read about IQM Quantum Computers’ bold move to invest €40 million into scaling quantum computer production, I felt compelled to share a perspective grounded in my experience bootstrapping startups. IQM’s leap represents not just hard science but also the challenges of scaling deeptech in Europe, an environment that is often as rewarding as it is testing.
Why the €40M Investment Matters
Let’s start with what IQM has achieved. Fueled by a Series B round surpassing $300 million, they’re raising the stakes with this investment in their Finnish facility. The aim: to create the infrastructure needed to produce over 30 quantum computers annually. For comparison, scaling hardware production at this level is nothing short of monumental. You’re not just building a product; you’re creating ecosystems around cleanrooms, assembly lines, and high-caliber partnerships.
This expansion also highlights something larger, Europe’s push for technological sovereignty. By focusing production locally, IQM is creating strategic value at a time when global tech players typically dominate advanced fields like quantum computing.
The Tech and the Target
IQM’s expanded cleanroom facility will be pivotal in doubling production and moving toward fault-tolerant quantum computing by 2030. These aren’t just advancements for academic curiosity; they’re solutions that solve real problems in airport logistics, medicine, and cybersecurity. Quantum computing has moved from research papers to commercialization, and firms like IQM are spearheading that transition.
A key insight here is how strategic focus on local manufacturing reduces dependency on non-European suppliers. For anyone running a startup, you know how fragile supply chains can be, and producing closer to home becomes your insurance against global disruption.
Three Lessons Female Entrepreneurs Can Learn From This
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Think Long-Term Without Losing Tactical Focus
IQM is betting on a 2033 roadmap, targeting 1 million qubits. They’re playing a long game while ensuring each phase is self-sustaining. As entrepreneurs, we can do the same by tying larger visions to clear, actionable goals. Don’t forget milestones, your investors and team need those wins to stay motivated. -
Private Funding Is Possible, Even For Deeptech
Raising $300 million outside the U.S. isn’t a common story, but it’s proof that European ventures can thrive with the right narrative. Whether you’re in AI, cleantech, or SaaS, there are funding opportunities if you know how to frame your impact. IQM positioned itself as central to Europe’s quantum ecosystem, which resonates heavily with EU funding priorities. -
Own Your Infrastructure
Expanding their Finnish facility with cutting-edge capability is about control, not just of production but of innovation. Hardware entrepreneurs are familiar with this struggle: outsourcing production can mean compromising ownership in more ways than one. The strategy? Build your key components in-house whenever feasible.
How to Manage Scale Without Losing Control
Scaling up, whether it’s producing quantum computers or scaling your digital platform across multiple markets, is exciting but daunting. Here’s a roadmap I’ve leaned on when my startups began taking off.
1. Map Resource Requirements Adequately: Plan employee growth, equipment costs, and workflows. Overestimate costs; this is not the place to “add as we go.”
2. Build with Future-Proofing in Mind: As IQM moves closer to 1 million qubits, they’re designing for error correction, knowing this scalability step is coming. Similarly, think about how features or systems will handle a doubling (or tripling) of customers.
3. Vet Partnerships Thoroughly: Scaling attracts potential collaborators and suppliers, but every partner needs to align with your values. Whether it’s financial ethics or timely deliveries, make non-negotiables clear.
Common Mistakes to Avoid
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Assuming Scaling Is Just More of the Same: Doubling production isn’t just replicating old processes. It requires overhauls, this applies to managing users on your platform just as much as quantum cleanrooms.
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Ignoring Environmental Goals: Sustainability isn’t optional anymore. IQM’s facility is a renewable-energy-powered operation with net-zero-emission goals. This isn’t just good PR, it’s what customers and stakeholders expect.
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Underestimating Cultural Differences In Expansion: Europe has a patchwork of localized regulations and preferences. A blanket approach doesn’t work. Understand each market’s specifics before deploying resources.
Deep Insights: Why IQM's Model Resonates With Founders
For women in tech or aspiring to STEM, IQM’s story is relatable for several reasons. Bootstrapping my own companies involved careful balancing between big ambitions (impacting women in STEM at scale) and smaller experiments. Like IQM, we needed confidence in our milestones while never losing sight of longer objectives.
Their sustainability ethos and commitment to European tech independence are similarly inspiring. Female founders can adopt this willingness to fight for a narrative in domains traditionally dominated by the “big players,” whether in tech or beyond.
Conclusion
IQM's €40M bet is more than a factory upgrade, it’s a statement of intent, aligning production, sustainability, and innovation into Europe’s larger quantum ambition. For every entrepreneur, especially women carving out space in tech or niche sectors, there’s a reminder here: building something high-impact is always going to be messy and high-stakes. But, with a clear vision and the guts to scale boldly, there's room for your startup to thrive.
Dream big, execute small, and don’t forget to celebrate the wins on the way!
FAQ
1. What is IQM’s €40M investment targeting?
IQM Quantum Computers is investing €40M to expand its Finnish production facility, aiming to double cleanroom space and system assembly line capacity for producing over 30 quantum computers annually. Read more about IQM’s expansion
2. What sets IQM’s facility apart from others?
The expanded facility in Finland will combine quantum chip fabrication and assembly, creating one of the world’s most advanced quantum computing production centers. Learn more about IQM’s advanced facility
3. What is IQM’s long-term roadmap for quantum computing?
IQM has an ambitious goal to reach 1 million error-corrected qubits by 2033, a critical step toward fault-tolerant quantum computing. Discover IQM’s quantum roadmap
4. How does IQM’s investment benefit Europe’s tech ecosystem?
The localized production aligns with Europe’s focus on technological sovereignty, reducing dependency on non-European suppliers and bolstering the EU’s quantum computing capabilities. Read about Europe’s quantum ambition
5. Why is sustainability important to IQM’s operations?
IQM’s facility aims for net-zero emissions, using renewable district heating and an abatement system, setting a benchmark for sustainable quantum computing production. Learn about IQM’s sustainability goals
6. Who leads IQM Quantum Computers and what roles do they play?
IQM was founded in 2018 by Jan Goetz, Mikko Möttönen, Kuan Yen Tan, and Juha Vartiainen. They lead the innovation and strategy behind Europe’s quantum hardware advancements. Meet IQM’s founders
7. What funding did IQM recently secure?
IQM raised more than $300 million in a Series B round, marking its unicorn status and strengthening its efforts toward commercial quantum computing solutions. Review IQM’s recent funding
8. What industries can leverage IQM’s quantum computers?
Industries like cybersecurity, medicine, and logistics stand to benefit from IQM’s advancements toward fault-tolerant quantum systems. Learn about practical quantum applications
9. How does IQM plan to scale its infrastructure globally?
The Finnish facility expansion is part of IQM’s plan to deliver next-generation quantum computing solutions worldwide while supporting data center infrastructure growth. Read about IQM’s scaling efforts
10. What is the significance of IQM’s cleanroom investments?
The cleanroom advancements enable high-quality quantum chip production with reduced dependence on external suppliers, consolidating their leadership in the European deeptech space. Explore IQM’s cleanroom technology
About the Author
Violetta Bonenkamp, also known as MeanCEO, is an experienced startup founder with an impressive educational background including an MBA and four other higher education degrees. She has over 20 years of work experience across multiple countries, including 5 years as a solopreneur and serial entrepreneur. Throughout her startup experience she has applied for multiple startup grants at the EU level, in the Netherlands and Malta, and her startups received quite a few of those. She’s been living, studying and working in many countries around the globe and her extensive multicultural experience has influenced her immensely.
Violetta Bonenkamp's expertise in CAD sector, IP protection and blockchain
Violetta Bonenkamp is recognized as a multidisciplinary expert with significant achievements in the CAD sector, intellectual property (IP) protection, and blockchain technology.
CAD Sector:
- Violetta is the CEO and co-founder of CADChain, a deep tech startup focused on developing IP management software specifically for CAD (Computer-Aided Design) data. CADChain addresses the lack of industry standards for CAD data protection and sharing, using innovative technology to secure and manage design data.
- She has led the company since its inception in 2018, overseeing R&D, PR, and business development, and driving the creation of products for platforms such as Autodesk Inventor, Blender, and SolidWorks.
- Her leadership has been instrumental in scaling CADChain from a small team to a significant player in the deeptech space, with a diverse, international team.
IP Protection:
- Violetta has built deep expertise in intellectual property, combining academic training with practical startup experience. She has taken specialized courses in IP from institutions like WIPO and the EU IPO.
- She is known for sharing actionable strategies for startup IP protection, leveraging both legal and technological approaches, and has published guides and content on this topic for the entrepreneurial community.
- Her work at CADChain directly addresses the need for robust IP protection in the engineering and design industries, integrating cybersecurity and compliance measures to safeguard digital assets.
Blockchain:
- Violetta’s entry into the blockchain sector began with the founding of CADChain, which uses blockchain as a core technology for securing and managing CAD data.
- She holds several certifications in blockchain and has participated in major hackathons and policy forums, such as the OECD Global Blockchain Policy Forum.
- Her expertise extends to applying blockchain for IP management, ensuring data integrity, traceability, and secure sharing in the CAD industry.
Violetta is a true multiple specialist who has built expertise in Linguistics, Education, Business Management, Blockchain, Entrepreneurship, Intellectual Property, Game Design, AI, SEO, Digital Marketing, cyber security and zero code automations. Her extensive educational journey includes a Master of Arts in Linguistics and Education, an Advanced Master in Linguistics from Belgium (2006-2007), an MBA from Blekinge Institute of Technology in Sweden (2006-2008), and an Erasmus Mundus joint program European Master of Higher Education from universities in Norway, Finland, and Portugal (2009).
She is the founder of Fe/male Switch, a startup game that encourages women to enter STEM fields, and also leads CADChain, and multiple other projects like the Directory of 1,000 Startup Cities with a proprietary MeanCEO Index that ranks cities for female entrepreneurs. Violetta created the "gamepreneurship" methodology, which forms the scientific basis of her startup game. She also builds a lot of SEO tools for startups. Her achievements include being named one of the top 100 women in Europe by EU Startups in 2022 and being nominated for Impact Person of the year at the Dutch Blockchain Week. She is an author with Sifted and a speaker at different Universities. Recently she published a book on Startup Idea Validation the right way: from zero to first customers and beyond, launched a Directory of 1,500+ websites for startups to list themselves in order to gain traction and build backlinks and is building MELA AI to help local restaurants in Malta get more visibility online.
For the past several years Violetta has been living between the Netherlands and Malta, while also regularly traveling to different destinations around the globe, usually due to her entrepreneurial activities. This has led her to start writing about different locations and amenities from the POV of an entrepreneur. Here’s her recent article about the best hotels in Italy to work from.
About the Publication
Fe/male Switch is an innovative startup platform designed to empower women entrepreneurs through an immersive, game-like experience. Founded in 2020 during the pandemic "without any funding and without any code," this non-profit initiative has evolved into a comprehensive educational tool for aspiring female entrepreneurs.The platform was co-founded by Violetta Shishkina-Bonenkamp, who serves as CEO and one of the lead authors of the Startup News branch.
Mission and Purpose
Fe/male Switch Foundation was created to address the gender gap in the tech and entrepreneurship space. The platform aims to skill-up future female tech leaders and empower them to create resilient and innovative tech startups through what they call "gamepreneurship". By putting players in a virtual startup village where they must survive and thrive, the startup game allows women to test their entrepreneurial abilities without financial risk.
Key Features
The platform offers a unique blend of news, resources,learning, networking, and practical application within a supportive, female-focused environment:
- Skill Lab: Micro-modules covering essential startup skills
- Virtual Startup Building: Create or join startups and tackle real-world challenges
- AI Co-founder (PlayPal): Guides users through the startup process
- SANDBOX: A testing environment for idea validation before launch
- Wellness Integration: Virtual activities to balance work and self-care
- Marketplace: Buy or sell expert sessions and tutorials
Impact and Growth
Since its inception, Fe/male Switch has shown impressive growth:
- 5,000+ female entrepreneurs in the community
- 100+ startup tools built
- 5,000+ pieces of articles and news written
- 1,000 unique business ideas for women created
Partnerships
Fe/male Switch has formed strategic partnerships to enhance its offerings. In January 2022, it teamed up with global website builder Tilda to provide free access to website building tools and mentorship services for Fe/male Switch participants.
Recognition
Fe/male Switch has received media attention for its innovative approach to closing the gender gap in tech entrepreneurship. The platform has been featured in various publications highlighting its unique "play to learn and earn" model.
