1QBit spinoff combining cloud, AI and quantum computing joins Accenture Ventures’ Project Spotlight program
NEW YORK; April 5, 2022 – Accenture (NYSE: ACN) has made a strategic investment, through Accenture Ventures, in Good Chemistry Company, a company that uses quantum chemistry, machine learning and quantum computing to accelerate new materials design.
The Good Chemistry Company platform, QEMIST Cloud, combines cloud, AI, and quantum computing in an integrated platform designed for developers. The platform’s engine enables faster, more accurate, and scalable ways to perform computational chemistry simulations.
“We’re doubling down on the growth potential of quantum computing and uncovering new ways to navigate its potential while empowering our clients to confidently absorb and access this breakthrough technology,” said Tom Lounibos, managing director, Accenture Ventures. “Simulating chemistry in this new way leverages easily and readily accessible computers on the cloud to perform simulations that were previously intractable even on expensive, high-performance computing environments. This brings a competitive advantage to clients and can change pharmaceutical drug discovery and more.”
According to the Accenture Technology Vision 2022, 69% of global executives say quantum computing will have a breakthrough or transformational positive impact on their organizations in the future. Quantum is the pinnacle of next generation problem solving and Accenture and Biogen collaborated with 1QBit already to accelerate drug discovery, developing a proof of concept that validated a quantum-computing molecule comparison approach and building an enterprise-ready, quantum-enabled application with transparent processes that generates molecular comparison results with deeper insights about shared traits.
Arman Zaribafiyan, CEO of Good Chemistry Company said, “With our platform, we are re-imagining the way computational chemistry simulations are done. Simulating chemistry on computers will help drive faster, more accurate and more accessible materials innovation in the decades to come. With Accenture’s support and collaboration, we will be able to explore the vastness of chemical space and enable rational materials design at scale.”
Carl Dukatz, Accenture’s global quantum computing lead said, “By building on and extending our relationship with 1QBit to the newly formed Good Chemistry Company, we are demonstrating our ongoing commitment to accelerating quantum computing innovation. We are witnessing the emergence of a new class of scalable cloud-based technology that is stretching the boundaries of what computers can solve. We recognize the potential of arming our clients with the next generation of chemistry, material science, and structural design.”
Good Chemistry Company is the latest organization to join Accenture Ventures’ Project Spotlight, an engagement and investment program that connects emerging technology software startups with the Global 2000 to fill strategic innovation gaps. Project Spotlight offers extensive access to Accenture’s domain expertise and its enterprise clients, helping startups harness human creativity and deliver on the promise of their technology.
Terms of the investment were not disclosed.
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About Good Chemistry Company
Good Chemistry Company’s mission is to enable high-throughput high-accuracy computational chemistry simulations to accelerate new material designs. Their proprietary QEMIST Cloud, a cloud-based computational chemistry platform, provides the building blocks for computational chemistry developers to build chemical simulation applications and workflows, using emerging algorithms in quantum chemistry, machine learning, and quantum computing. Through simple, easy-to-use APIs, QEMIST Cloud provides access to computational chemistry tools with unprecedented scale enabled by the power of cloud. Headquartered in Vancouver, Canada, Good Chemistry Company’s interdisciplinary team comprises computational and quantum chemists, software developers, ML engineers and quantum computing scientists. For more information about Good Chemistry Company, visit goodchemistry.com.
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