Watch CEO and Founder of QuintessenceLabs, Dr Vikram Sharma, talk about the company's journey to market
2nd generation quantum key distribution system
QuintessenceLabs Pty Ltd, a private company founded in 2006 based on research at the Australian National University, has developed link encryption and key management products using quantum key distribution (QKD) and supporting the one-time pad cipher. The result is untappable, ultra-secure communications technology guaranteed by quantum mechanics.
A quantum random number generator provides a true random source of raw key material. The system dynamically adjusts operational parameters to maintain security of key material in the presence of an eavesdropper on the network. Eavesdropping activity results in variations of the quantum statistics of the transmission – revealing the presence of the eavesdropper. This novel capability is not possible with conventional systems. Unlike conventional cryptographic infrastructure, QuintessenceLabs’ products do not require regular re-keying, do not rely on public key infrastructure, and do not place trust in any third party entity or infrastructure for the secure delivery and management of key material.
Commercialisation Australia assistance is supporting advancing this technology to full commercialisation. Market research and strengthening of senior personnel resources will accelerate entry to global markets and prepare the technology for volume production.
Dr Vikram Sharma, Founder and Chief Executive of QuintessenceLabs, said that the Commercialisation Australia grant had filled a gap in their funding spectrum and accelerated their to-market efforts, including the recruitment of a well-credentialed chief marketing officer. He also said that their Case Manager had added value by being a sounding board for business decisions and providing experienced counsel on aspects of the company’s development. And through the Volunteer Business Mentors network, they have been introduced to domain experts who would not usually be accessible to them. “Participating in Commercialisation Australia has been a transformative event in QuintessenceLabs’ journey to build a global enterprise” commented Dr Sharma.
QuintessenceLabs named Global Runner-up in IBM SmartCamp finals
In February QuintessenceLabs was declared runner up in the global finals of IBM SmartCamp in New York, from a pool of over 3,000 companies. Previously, QuintessenceLabs had been joint winner of the Asia Pacific region final in Shanghai, and an Australian and New Zealand finalist in Sydney.
The global finals involved detailed mentoring from more than 50 high profile entrepreneurs, venture capitalists and angel investors. The distinguished judging panel included Bill Reichert of Garage Technology Ventures and Paul Brunet of IBM. Event speakers included Michael Bloomberg and David Rose of Gust. As a consequence of participating, QuintessenceLabs has gained exposure to a significant pool of potential investors and commenced partnering discussions with some participants.
The below image is the preliminary engineering design for the Quantum Link Encryptor.
[Picture courtesy of QuintessenceLabs Pty Ltd]