A conversation with Borivoje Dakic: the launch of QUBO Technology
20 February 2025
The Vienna Center for Quantum Science and Technology and the University of Vienna have a long tradition in research and innovation in the field of Quantum Science. Inside the institutions, the Operational Quantum Information Group, led by Prof. Borijove Dakic has been very active in the last years in the field of Quantum Information Theory. As result of these years of research, 2023 also saw the born of its spin off company QUBO Technology, as the natural continuation path to these investigations, now focused to bring science to the market through industrial applications.
In his recent visit to ICFO, we have had the pleasure to meet Prof. Dakic. Iñaki Barettini, Innovation Manager from the ICFO Tech Transfer Office and Prof. Dakic Managing Director of the company QUBO Technology had a relaxed talk about the launch of the company, the market prospects and future perspectives for the Quantum Industry. He highlighted how Google’s 2019 paper on quantum computational supremacy was a turning point, convincing many in the scientific community that there was no going back to classical computing. This realization, paired with increasing technological complexity, reinforced the need to take quantum technologies seriously and explore their practical applications, particularly in computing and security.
QUBO Technology is set to make its mark in the financial sector by offering solutions that complement Quantum Key Distribution (QKD). While QKD operates at the transport layer, QUBO Technology benefits from infrastructure synergies, while developing solutions that are targeted at the application layer. The company gained traction after securing pre-seed funding, engaging in pilot projects with payment service providers, and successfully testing its technology in real-world payment environments. This success led to QUBO Technology receiving a prestigious national Science and Business Award (Rudolf Sallinger Fonds) in Austria, further solidifying its credibility in the industry.
QUBO receiving the S&B (Science and Business)-Award (source: SallingerFonds)
The demand for enhanced security in the financial sector is more pressing than ever. Fraud-related losses have tripled in the past three years, making additional security layers a valuable investment for institutions. With major players in finance, government, and defense acknowledging the quantum threat, the industry is actively seeking solutions to safeguard critical infrastructure.
As QUBO Technology continues to develop its services, the team is testing different business model. The company is working closely with partners and future customers to identify the best commercial model, working on solutions that combine hardware and software, in the form of product-based, service-based, and hybrid models. The company also actively works on solutions that will optimize return-on-investment for customers, so quantum security technology becomes an undisputed, value-adding security component, and to unlock the long-term potential of these solutions, which is undeniably high. The transition to Post-Quantum Cryptography is on the horizon, and regulatory efforts will play a crucial role in ensuring adoption.
Looking ahead, Prof. Dakic emphasized the importance of maintaining a strong, pragmatic team. The three co-founders—a combination of scientists and a business expert—bring a unique synergy to the company.
QUBO team (source: QUBO Technology)
QUBO Technology represents a bold step forward in bringing quantum science to industry. With a strong foundation in research and a clear vision for the future, the company is bound to play a crucial role in the evolution of quantum cryptography and security solutions. Stay tuned for more updates on their journey!