insider brief
- Novo Holdings announced today that it will allocate €188 million (DKK 1.4 billion) to invest in quantum technologies.
- The company wants to make Denmark a global hub for quantum technology.
- Novo Holdings is the holding and investment company responsible for managing the assets and wealth of the Novo Nordisk Foundation.
Press Release — Novo Holdings today announced that it has earmarked €188 million (DKK 1.4 billion) for investments in quantum technology, thereby significantly strengthening the quantum technology startup ecosystem in Northern Europe.
Our goal is to invest in, support and develop some of the world's most promising quantum technology companies with life science applications, with Denmark as our center of gravity.
The quantum industry, which develops new technologies such as quantum computing and quantum sensing based on quantum physics, has the potential to dramatically impact many industries, especially the life sciences. Quantum technology is currently on a rapid development trajectory, especially in Northern Europe.
Denmark's current momentum has the potential to establish a global innovation hub for quantum technology. To achieve this, a vibrant seed and venture capital investment ecosystem is essential, which is exactly what Novo Holdings aims to achieve.
Søren Møller, Seed Investments Managing Partner at Novo Holdings, said: “Quantum technology is a disruptive and transformative field that can revolutionize many sectors and address global challenges. Novo Holdings’ long experience in developing the life sciences ecosystem in Northern Europe and the Novo Nordisk Foundation Our combined quantum activities and efforts provide a very powerful platform for building quantum startups. Our ultimate goal is to create, grow and develop a strong quantum technology company in the Nordics. That’s it.”
Organizationally, Quantum Investments will work with Seed Investments, with a new dedicated sub-team established there.
The Quantum Investments team will focus on quantum computing, sensing, and algorithms, all areas with relevant applications in the healthcare sector and significant applicability in the broader life sciences sector. Geographically, Denmark is recognized as a promising quantum technology hub, building on strong momentum and legacy since Niels Bohr. However, the investment obligation is global, so although Denmark will be the focus, Novo Holdings may invest outside of Scandinavia.
The power of partnership
Establishing a quantum technology hub in Denmark is in line with a number of recent initiatives by the Novo Nordisk Foundation, most notably to develop one of the world's first fully functional and generally applicable quantum technologies. The establishment of the Novo Nordisk Foundation Quantum Computing Program (NQCP) aimed at creating. The Quantum Foundry is a limited liability company wholly owned by the Novo Nordisk Foundation for the development of quantum materials, quantum chips, and related manufacturing tools.
Leanne Odershed, Senior Vice President Natural and Technical Sciences at Novo Nordisk Foundation, said: A strong quantum ecosystem based on knowledge, a network of all relevant partners, and sufficient capital supports quantum research made possible by the Novo Nordisk Foundation, the State of Denmark, and the BioInnovation Institute (BII) Deep Tech. will help ensure the further development and commercialization of Laboratory – Quantum. We anticipate important developments in this area both in the near term and over the long term. But success will depend on leveraging the full potential of quantum technology by enabling the entire value chain and establishing strong partnerships. ”
Given the country's track record of successful public-private partnerships, the potential to develop and form new partnerships is part of the rationale for choosing Denmark as the anchor point for a quantum technology hub. The Danish government has committed 1.2 billion Danish kroner (160 million euros) to quantum technology research. This, combined with grants from the Nordisk Foundation and other donors, means Denmark's per capita investment in quantum technology is now the highest in the world.
Deep Tech Lab – Quantum could be another important partner. Denmark's official NATO DIANA accelerator site operated by BioInnovation Institute (BII). The aim is to leverage Denmark's world-leading quantum technology research in collaboration with the Niels Bohr Institute at the University of Copenhagen, the Technical University of Denmark, Aarhus University and the Danish National Institute of Metrology.
About Novo Holdings A/S
Novo Holdings is the holding and investment company responsible for managing the assets and wealth of the Novo Nordisk Foundation. Novo Holdings' purpose is to improve the health of people and the sustainability of society and the planet by generating attractive long-term returns from the assets of the Novo Nordisk Foundation. Novo Holdings, wholly owned by the Novo Nordisk Foundation, is the controlling shareholder of Novo Nordisk A/S and Novonesys A/S (Novozymes A/S) and manages investment portfolios with a view to long-term returns. In addition to managing a broad portfolio of equity, fixed income, real estate, infrastructure and private equity assets, Novo Holdings is a leading global life sciences investor. Novo Holdings invests in life sciences companies at all stages of development through its Seed, Venture, Growth, Asia, Bioindustrial, and Principal Investment teams. At the end of 2023, Novo Holdings' total assets were EUR 149 billion. www.novoholdings.dk
About the Novo Nordisk Foundation
Founded in Denmark in 1924, the Novo Nordisk Foundation is a corporate foundation with philanthropic objectives. The Foundation's vision is to improve the health of people and the sustainability of society and the planet. Its mission is to advance research and innovation in the prevention and treatment of cardiometabolic and infectious diseases, and to advance knowledge and solutions to support the green transformation of society. www.novonordiskfonden.dk/en
