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Novo Holdings to Invest Heavily in Quantum Tech Start-Ups

May 1, 2024 1 min read

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Novo Holdings, the investment arm of the Novo Nordisk Foundation and controlling shareholder of Danish pharmaceutical company Novo Nordisk, is investing significantly in quantum computing startups, with a specific emphasis on the life sciences sector within the Nordic countries. The company plans to allocate approximately €188 million ($200 million) to foster a startup ecosystem that can leverage the transformational potential of quantum computing, particularly in accelerating the drug discovery process.

This strategic move is supported by the Danish government's substantial investment of DKK 1.2 billion (€160 million) in quantum technology research, a commitment that positions Denmark as a world leader in per capita investment in this cutting-edge field. Novo Holdings' initiative is aligned with the objectives of the Novo Nordisk Foundation's Quantum Computing Programme (NQCP) and The Quantum Foundry, which are focused on the development of quantum materials and quantum chips.

The goal of these collective efforts is not only to catalyze advancements in quantum technology but also to establish and nurture robust quantum tech companies in the Nordics. With the global landscape of quantum computing expanding rapidly, Denmark aims to solidify its role as an innovation hub, while managing the dual-edged nature of the technology's transformative power responsibly.

#business #startups #esg #tech

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