EIB President Werner Hoyer and IQM's Chief Executive Dr Jan Goetz in front of a quantum computer, Source: EIB

EIB boosts Europe's quantum computing sector with EUR 35 million

EIB boosts Europe's quantum computing sector with EUR 35 million

The European Investment Bank wants to position Europe as a technological leader

IQM, the pan-European leader in building quantum computers, unveiled a state-of-the-art fabrication facility in the Finnish city of Espoo last November. Costing around EUR 20 million, the development of the modern site was said to be the company’s largest investment. 

Now, the European Investment Bank (EIB) has revealed that it has provided IQM Quantum Computers with EUR 35 million to accelerate the development and commercialisation of their quantum processors in Finland.

How will the financing help IQM?

In a press release, the EIB explained that the financing is part of the European Guarantee Fund’s venture debt product, which helps provide liquidity to SMEs affected by COVID. Explaining how the loan will boost the operations of the company, IQM’s Chief Executive, Dr Jan Goetz, shared:

“Today’s chip shortage has exposed just how dependent the world is on semiconductor manufacturers in Asia. Quantum processors give us an opportunity to learn from this and become self-reliant first, and a global provider for quantum chips in the future.

This EIB loan supports us in building more balanced and resilient quantum development in Europe. We are already working on the most advanced quantum technology in Europe and this loan will also help us create the next-generation European quantum ecosystem.”

Positioning Europe as a technological leader

EIB President Werner Hoyer also commented on the loan and its significance, sharing that investing in quantum computing is crucial as the field has great potential. More specifically, Hoyer noted that quantum computing has the power to “revolutionise many sectors, from drug and vaccine development to cybersecurity”.

Taking this further, he shared that global competition is fierce and that since quantum computing is still at an early stage, EIB must ensure that companies like IQM are well-funded. In this way, it can help position Europe as a technological leader worldwide.



Growing City


Smart City


Green City


Social City


New European Bauhaus




ECP 2021 Winner TheMayorEU