This article originally appeared in the March/April issue of Startups Magazine. Click here to subscribe

Pioneering passion turned entrepreneurial endeavour

Algorithmiq, like many other startups that are at the cutting-edge of science was born from academia, Maniscalco explains: “While I was working in the University of Turku I had a very talented team of researchers, we became more and more engaged with the very first quantum computers that were available on the cloud. We participated in the very first Qiskit camps (hackathons) organised by IBM. Over time our collaboration with IBM consolidated and led to joint research papers. Meanwhile, my team discovered the essential ingredients of what could be the key to the door of useful quantum computation in the near term.”

This opening to the quantum world led to an itch for application and, by chance, Maniscalco and her team stumbled across a business co-founder who strongly believed in their mission. “For me, it felt like the combination of the right time and the right people.”

Once she moved to the University of Helsinki in November 2020, the gears were in motion and she co-founded Algorithmiq with her research team without looking back. “I always loved challenging myself and doing something new and different, so founding and leading a start-up seemed like a natural next step to pursue. It's been an amazing experience so far. I believe we are at the edge of something that will change our society profoundly.”

Real problems, real solutions

“Algorithmiq is harnessing the power of quantum computing to solve complex problems in life sciences. Founded by a team of world-leading academics in the field, the company aims to leverage the potential of quantum software so that new drugs can be discovered, invented, and brought to market quickly, efficiently, and cost-effectively, leading to precise medical treatments and a paradigm shift in drug discovery and development,” affirmed Maniscalco.

Algorithmiq utilises a unique approach that they have developed themselves called ‘Quantum Network Medicine.’ The process combines powerful AI with quantum computing to deliver unparalleled simulation and modelling power.

“The key to successfully accomplishing our vision is a discovery at the core of our technology, an algorithmic framework, that we have called an ‘Informationally Complete’ framework,” explained Maniscalco. This process ensures that error mitigation can be enforced, and calculations can be completed in a timely and scalable manner. Doing so means that vast simulations of materials and molecular compounds can be completed effectively, the hope one day being that ‘in silico’ medicine can become a reality.

A multinational team

Maniscalco is proud to host Algorithmiq’s multinational team from around the globe, consisting of 40 total employees split across its Helsinki headquarters and remote working.

“Quantum computing is a global business, and quite naturally Algorithmiq has operated internationally from the very start. Recruitment is also conducted globally since there are a limited number of quantum science experts worldwide. The number of personnel in this expert organisation, which is now an international leader, is unlikely to increase very much in the near future, but scalable software development continually opens up new opportunities to expand market areas and to enter other sectors.

“Algorithmiq's team is very international, with a majority of Finnish and Italian employees, but also Germans, Croatians, Austrians, Polish, Hungarians, English, New Zealanders, Cubans, Russians, Irish, Spanish, Brazilians, Turkish, Dutch, and Filipinos.”

Big problems, big challenges

Maniscalco explained that, like with most quantum-based research, the biggest challenges are found within the nature of quantum itself, highlighting noise-induced errors, the development of algorithms, and scalability.

“Generally speaking, the biggest challenge in quantum computing research is to find strategies to both lower the current level of noise-induced errors and to mitigate the noise affecting quantum computers.

“The first one is mostly an engineering challenge, the second one is a challenge for the algorithms that allow to remove noise from the outcomes of current quantum computers.

“Then there is the holy grail of quantum computing which is to find a scalable method to implement error correction, leading to the so-called fault-tolerant quantum computer. The latter one is much more ambitious but it will take a much longer time.”

But Maniscalco is confident that solutions are being found, and in time a total solution will be complete, excited for what is to come. “An error-corrected quantum computer will allow one to implement algorithms that are much more complex than the near-term machines, hence leading to the most disruptive applications.”

The bigger the challenges, the bigger the successes

Whilst there are many big challenges to be faced in the complex realm of quantum computing, so too are there considerable achievements to be had. But for Maniscalco, there are two key standouts, her team, and the performance of Algorithmiq’s top algorithms.

“The greatest success for me is the team that we have built. We have a world-class, multi-disciplinary team of experts in the field and together we have amassed over 300+ peer-reviewed publications. The effort we put into hiring the best people at the very start is not only a game-changer in an industry where so much of the ‘real’ talent is scarce but it continues to provide positive ripple effects, which we reap every day.

 “Besides this, we have recently successfully demonstrated the performance of our error mitigation algorithm, which is part of our software platform Aurora, using 127 qubit IBM devices, with 50+ qubits and over 2400 entangling gates. This is one of the largest demonstrations ever done at this scale.”

The next quantum leap

The team at Algorithmiq is hard at work to deliver the next step in its journey, the demonstration and implementation of the first useful and commercially relevant applications of quantum computers. Maniscalco expands: “We are working on a first experiment in scientifically useful quantum advantage experiment with IBM and Trinity College Dublin, and on the more difficult task of commercially relevant applications with Cleveland Clinic and IBM.”

Looking further beyond, Algorithmiq aspires to expand its operations in the UK and Ireland, where they have current subsidiaries, whilst simultaneously strengthening collaborations with partners such as AstraZeneca and Cleveland Clinic.

Championing diversity

Maniscalco was particularly enthusiastic to share something she was proud of, championing the diversity of her team. “I am also very proud of our diverse team, with 30% women employees of which 27.5% are part of our quantum R&D and 22,5% have a PhD in Quantum Physics or Chemistry. Moreover, both CEO and COO are women. This should be considered in a general context in which 80% of quantum companies do not have any senior female figure and 2% of applicants for quantum jobs are female (Report from  London School of Economics and Political Science, 2023).”