The Development Bank of Japan has invested $3.5 million in Qolab, a California-based quantum computing startup. DBJ is the only Japanese bank to directly support a quantum computing venture in the United States, a sign of the country’s commitment to expanding its stake in emerging technologies.
Founded in 2022 by CEO Alan Ho, Head of Hardware Robert McDermott, and Chief Technology Officer John Martinis, who led Google’s Quantum AI Lab, Qolab focuses on developing superconducting qubits known for high gate speeds.
Currently, superconducting qubits face technical challenges due to high error rates. Qolab wants to optimize fabrication processes, improve qubit reliability, and commercialize this technology effectively.
DBJ is optimistic about Qolab’s innovations and seeks to facilitate partnerships between Qolab and Japanese researchers and manufacturers. Such collaborations are expected to speed up Japan’s research and development in quantum computing, creating an ecosystem for knowledge exchange and deeper technology integration.
DBJ’s investment aligns with Japan’s broader strategic interests in quantum technology as the country wants a competitive edge in this high-stakes global market.
A recent report by McKinsey & Company shows that 75 of the world’s 261 quantum computing startups are based in the United States, underscoring the importance of international collaboration.
