Novo Holdings plans to invest Dh1.4 billion ($200 million) to back startups focused on disruptive technologies such as quantum computing, sensing and algorithms for healthcare applications .
The Danish investment firm hopes the funding will create a “vibrant seed and venture capital investment ecosystem” in Denmark. The company noted that quantum technology is on a “rapid development trajectory”, particularly in Northern Europe. Furthermore, although the investment mandate is global, it is centered in Denmark, with plans that also have the potential to invest beyond the Nordic countries.
Quantum Investments will be operated in conjunction with Seed Investments within Novo Holding. In addition, a new dedicated sub-team will be established to incubate startups in quantum computing, sensing and algorithms for healthcare applications.
Many companies and governments have invested in the development of quantum computing technology that can perform scientific calculations that would take most computers millions of years. In the healthcare field, these technologies have a variety of applications, for example, they have the potential to significantly speed up the drug discovery process.
Disruptive technologies can have a major impact on this sector, and one example is artificial intelligence (AI). AI in healthcare is a fast-growing market, and GlobalData predicts that the AI market will generate approximately $93 billion in revenue in 2023.
The use of AI in drug discovery has increased in recent years, with multiple companies investing in AI. GlobalData analysts have identified more than 250 unique active medicines that use terms like “AI” and “machine learning” in their drug descriptions in 2022, but the use of AI in drug discovery remains It is in its early stages and is expected to reach maturity in 2022. For the next few years. Quantum computing could make the process even faster.
Access the most comprehensive company profiles on the market with GlobalData. Save research time. Increase competitiveness.
Company Profile – Free Sample
You will receive a download email shortly
We are confident in the unique quality of our company profile. However, we want you to make the decision that is most beneficial for your business, so we are offering free samples that you can download by submitting the form below.
by global data
The Novo Nordisk Foundation, which owns Novo Holdings, has invested heavily in the field of quantum computing in recent years. In February, the company awarded a grant of 150 million Danish kroner ($21.5 million) to establish the Copenhagen Biomedical Quantum Sensing Center. As part of the research project, researchers from the University of Copenhagen, the Technical University of Denmark, and the University of Texas at Austin aim to advance quantum sensing and imaging technologies in medical diagnostics and healthcare.
In 2022, the Novo Nordisk Foundation also announced plans to build a quantum foundry as part of its quantum computing program. The foundry was established to develop quantum materials and chips, and related manufacturing tools. All of this feeds into the company’s goal of developing a fully functional quantum computer within the next 10 to 12 years.
