Iceberg Quantum: A Translational Research Success Story

Iceberg Quantum’s recent $2 million pre-seed funding and partnership with PsiQuantum mark a major milestone not just for the company, but also for EQUS’ Translational Research Program (TRP). This achievement highlights the crucial role EQUS has had in plugging the gap in early-stage support to turn groundbreaking ideas into commercial reality.

From PhD Research to Quantum Startup

The story of Iceberg Quantum began while its three founders—Felix Thomsen, Larry Cohen, and Sam Smith—were still PhD students at the University of Sydney. While working under the supervision of Prof. Stephen Bartlett, a world leader in quantum error correction, they invented a novel approach to reducing the overhead required for fault-tolerant quantum computing. It was a compelling idea, but like many deep-tech innovations, translating it from theory to application required more than just academic insight—it needed time, funding, and expert guidance.

The Role of EQUS' TRP Program

Recognising the potential of their work, the team was encouraged to apply for EQUS' Translational Research Program (TRP), designed to bridge the gap between fundamental research and commercial application. Through TRP, they were awarded 12 months of salary each—totalling $179K—giving them the time and financial freedom to fully dedicate themselves to their idea. But TRP offered more than just funding.

As part of the program, the team received tailored advice and mentoring, connecting with experienced entrepreneurs and venture capitalists. EQUS facilitated introductions to key figures in the investment and quantum communities, helping the founders refine their strategy and position Iceberg Quantum for success. The result? Less than a year after completing TRP, Iceberg Quantum secured major VC investment and a partnership with one of the world’s leading quantum companies, PsiQuantum.

Why Programs Like TRP Matter

The success of Iceberg Quantum underscores the urgent need to fill the translation research gap with early-stage funding and support mechanisms like EQUS' TRP. Traditional investors prefer to back 'winning horses,' but at the earliest stages, it’s impossible to predict which ideas will succeed. Without funding to explore and test new concepts, many promising innovations never make it out of the lab.

This is where ARC Centres of Excellence and Translation programs prove invaluable. They provide the crucial early-stage resources and advice needed to test, refine, and develop ideas before they are 'investor-ready.' The TRP program exemplifies how a small but strategic investment—alongside the right guidance—can accelerate breakthroughs and build a pipeline for Australia’s quantum ecosystem.

Looking Ahead

EQUS’ TRP program demonstrated how targeted early-stage support can turn innovative ideas into commercial reality, helping build a stronger foundation for Australia's quantum industry. The lessons learned and successes achieved through TRP will continue to inform future efforts to bridge the gap between research and real-world application, ensuring that more researchers have the opportunity to take their discoveries beyond the lab and into the real world.

Ideas alone aren’t enough—people make them happen. And when given the right support at the right time, those people can change the future of technology.