Synergy Quantum SA, a quantum technology company, announces a new milestone in its development. The start-up that is revolutionizing data protection with post quantum encryption technology, has just signed a major contract of cooperation with the Quantum Technology Hub of the Indian Government.
Groundbreaking data protection
Swiss start-up founded in 2018, Synergy Quantum SA that works on high impact Industry solutions using Quantum technologies, has developed a technology that protects private data with post-quantum end-to-end encryption.
"Private data is not safe. There is a long-game attack where hackers scrape, collect and harvest encrypted data, waiting for the day when quantum computers can decrypt it" notices Jay Oberai Founder of Synergy Quantum SA.
The start-up ensures that messages, document trails, ranging from private notes to finance and legal contracts, are encoded with Post-Quantum Encryption. It protects individuals from the frequent threats of leaked information, password breaches, taping of private communication and loss/confiscation of their hardware. The first applications of this technology are in the field of Corporate Messenger Apps, providing a secure communication platform between companies and their clients (e.g. for private banks, family offices, law firms, doctors).
Major contract with the Indian Government
On October 1st 2021, the I-Hub Quantum Technology Foundation, under the National Mission for Interdisciplinary Cyber Physical Systems, Ministry of Science and Technology, Government of India and Synergy Quantum SA have signed a joint venture agreement. The Geneva company will provide its knowhow and skills for the productization and commercialization of co-developed technologies in the field of quantum sciences. In order to encourage and promote technical bilateral cooperation on research and development in Quantum Technologies, the agreement establishes also the basis of mutual exchange and training of scientific and technical personnel and of available scientific and technological research and data. The first technologies that will be co-developed are in the field of Post-Quantum Encryption, Quantum Key Distribution, Space Quantum Communication, and the building of Quantum computers.
"Quantum Technology is opening up new frontiers in computing, communications, cyber security with widespread applications. It is expected that many commercial applications would emerge from theoretical constructs which are being developed in India. India will become a leader in the development of Quantum technologies. The Government has earmarked an outlay of Rs. 8000 Crores (1.2bn USD) over a period of 5 years for the National Mission On Quantum Technologies And Applications" states Mrs. Nirmala Sitaraman, Finance Minister of India.
Geneva, an international wealthtech center
Synergy Quantum SA joined FONGIT innovation program in 2018. In 2021, the start-up won the European Innovation Award by Wealth & Finance and is in the process of applying for two international patents based on two very promising technologies. The company was started with seed financing of around CHF 2.5 million and has hired CERN-based engineers.
"We believe Synergy Quantum is of strategic importance not only to the Canton of Geneva, but also for helping to achieve Switzerland's goal for global leadership in data privacy and security" declares Antonio Gambardella, Director, FONGIT.
As an international financial center, Geneva is a strategic location for wealthtech initiatives that includes all companies and tech tools focused on the protection and growth of wealth.
"As wealth becomes digitalized, the greatest worry of mankind will become the protection of that data. Data privacy and security will become critical. Switzerland has an immense role to play in this new realty, and we aim to be leaders in this opportunity." comments Jay Oberai Co-Founder of Synergy Quantum SA.
For more information: https://www.synergyquantum.swiss