Quantum software company makes shortlist of 10 most promising European tech scale-ups with potential to become billion-dollar companies.
SAN SEBASTIÁN, SPAIN, January 18, 2024 /EINPresswire.com/ -- Multiverse Computing, a global leader in value-based quantum computing solutions, has been recognized as one of Europe’s top 10 tech scaleups as a nominee for the 2024 Future Unicorn award by DIGITALEUROPE, a leading trade association representing digitally transforming industries in Europe.
Future Unicorns are companies recognized for their potential to hit $1 billion in value. Multiverse was selected as part of this elite group along with companies working in artificial vision, large language models, and connected vehicles.
The three finalists will be announced in early February. Iliana Ivanova, EU Commissioner for Innovation, Research, Culture, Education and Youth, will announce the winner on Feb. 21 at the Masters of Digital conference in Brussels and online.
Multiverse has been working with entities in the U.K and the European Union as well as North America in finance, energy, space, manufacturing and defense. In 2024, company leaders spoke at the Consumer Electronics Show (CES) in Las Vegas and the AI House at the World Economic Forum in Davos to discuss how quantum algorithms are solving real-world business problems.
“We appreciate this recognition of our significant progress in 2023, which included doubling revenue year over year and launching CompactifAI, a compressor which makes AI models more efficient,” said Enrique Lizaso Olmos. “This is on top of filing 95 patents and publishing 28 scientific papers since we founded the company in 2019.”
This year, Multiverse Computing is developing benchmarks to clearly illustrate the effectiveness of CompactifAI and building new quantum-inspired software to make Large Language Models more portable and to open up new use cases for this powerful technology.
The Future Unicorns program is in its seventh year. Cecilia Bonefeld-Dahl, director general of DIGITALEUROPE, said the goal for the Future Unicorn program is to identify future tech giants with roots in Europe and for the region to double the number of unicorns by 2030.
“This year’s impressive shortlist of the most brilliant scale-ups clearly reflects the power of European innovators to deliver solutions and face Europe’s most burning challenges,” Bonefeld-Dahl said. “We think these companies have got what it takes to become Europe's next tech giant.”
According to CB Insights, there are 1,200 private companies in the Global Unicorn Club, with a total value of $3.8 trillion. Only 4.5% are from the EU.
DIGITALEUROPE and 41 associated national trade organizations identify the shortlist of 10 companies. DIGITALEUROPE is a trade association that works to attract tech companies and strengthen Europe’s tech workforce. The organization’s membership represents more than 45,000 businesses.
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