Founded in January 2000, Nordic Quantum Computing Group AS (NQCG) was Europe's first quantum computing startup and Norway's only company dedicated to developing a scalable quantum computer.
In a statement, NQCG's highlights four key challenges which has led to its closure. A lack of a national strategy for quantum technology is mentioned, with Norway being the only Nordic country without a national strategy for it. Norway also lacks the scientific infrastructure needed to develop quantum computers, which hinders growth and innovation. While the Norwegian government did allocate NOK 70 million annually budget for quantum technology, NQCG deems this insufficient.
Detrimental to tech startups
Also mentioned are the lack of a “Startup Visa”, which delays the recruitment of international talent, while an exit tax increases the cost of recruiting international talent, which makes it extermely hard to recruit the necessary imported expertise.
Two specific taxes are also singled out: exit tax and owner tax. Owner tax has led to 'many entrepreneurs and investors to leave Norway', while a wealth tax 'greatly discourages entrepreneurs from creating globally competitive businesses'. Lastly, a retroactive exit tax 'is especially detrimental to tech startups. (... ) Scaling operations require relocation abroad, but doing so triggers the exit tax, effectively discouraging founders to expand globally.'
The company formally ceased operations on December 6, 2024, concluding 25 years of innovation.
