The IOP quantum Business Innovation and Growth (qBIG) Prize is awarded to small and medium-sized companies (SME), start-ups or established, working on taking quantum technology products or solutions to market. The winner will receive a cash prize, mentoring, and access to the IOP Accelerator and business network. Sponsored by Quantum Exponential.
Eligibility
To be eligible your company must:
- be taking innovative products based on quantum science into the quantum sector;
- be an SME incorporated either in the UK or Ireland, a start-up or established;
- provide a sound business plan aiming to make a profit;
- have some proof of validation of a need for the product, ideally by a potential customer;
- be able to show how the prize money would add value to your organisation; and
- intend to seek external equity funding in order to help accelerate the growth of your business.
Prize
The winning company will:
- receive a £10,000 unrestricted cash prize;
- receive 10 months’ mentoring from the Quantum Exponential team;
- receive six months’ access to the IOP Accelerator;
- gain access to IOP business support;
- receive a digital trophy for use on marketing materials;
- be invited to attend and exhibit at our annual IOP Business Innovation and Growth Showcase, providing an opportunity to network with funding agencies, key industry figures and policy-makers; and
- have your award-winning innovation highlighted in IOP marketing materials and social media networks.
Apply now
Applications for the 2025 prize were opened at the UK National Quantum Technologies Showcase in London’s Business Design Centre on 8 November 2024.
Start your application now via our online form. Once you have logged in, please select the following:
Start Nomination > Category > Business Awards > qBIG Prize
Applications will close at 23.59 on Sunday 16 February 2025.
Winners
2024: Equal1
2023: Cerca Magnetics
About Quantum Exponential
Quantum Exponential is a pioneering enterprise focused on opportunities in quantum technology and the wider quantum computing sector. The company benefits from an advisory board comprising industry experts, entrepreneurs, and technology investment professionals with broad access to quantum opportunities and markets.
Quantum Exponential’s investment strategy is to build a portfolio of minority investments in early-stage global quantum technology companies, primarily in NATO-allied countries, providing institutional and private investors with access to transformative technologies and industries in areas such as artificial intelligence, manufacturing, and healthcare.
Investee Companies
Specialises in quantum-enabled medical imaging, advancing non-invasive diagnostic technologies for healthcare applications.
A cutting-edge company focused on quantum optics and photonics, enabling secure communications and scalable quantum networks.
Innovating in the realm of quantum computing, Universal Quantum is developing large-scale, fault-tolerant quantum computers to solve complex problems across industries.
Combines quantum sensing with imaging technologies to detect and measure greenhouse gas emissions, supporting environmental and industrial sustainability.
A leading quantum computing company designing next-generation quantum processors to address real-world challenges in computing power and efficiency.
A quantum technology innovator specializing in advanced sensing solutions, leveraging quantum mechanics to enhance precision and efficiency in various applications, including navigation and resource exploration.
A leader in quantum encryption technology, Arqit develops innovative solutions to protect communications and data against cyber threats posed by quantum computers.
Find out more.