QLabs – Australia-UK FTA opens doors for Aussie cyber security company
17 December 2021
'The opportunities created by the Australia-UK Free Trade Agreement level the playing field and open doors in-market.'
Vikram Sharma, Founder and CEO, QuintessenceLabs
Australian cyber security company QuintessenceLabs (QLabs) is catching the attention of Fortune 500 companies worldwide. They range from financial services and defence firms to cloud and software companies.
In the UK, QLabs is getting accolades as Australia’s first quantum tech company. It won the UK Department for International Trade (DIT)’s Tech Rocketship Award in 2018.
Along with its awards, the Australia-UK Free Trade Agreement (FTA) has put the UK firmly on QLabs’ growth radar.
‘The UK and European Union are globally significant markets for cyber security,’ explains QLabs CEO and founder Vikram Sharma. ‘The opportunities created by the Australia-UK FTA level the playing field and open doors in-market.’
This is particularly important where government policies favour organisations with a UK/EU registered parent company.
‘We anticipate the FTA will allow a local subsidiary of an Australian parent company to be competitive while also qualifying for various industry growth initiatives,’ says Sharma.
Close government-to-government relations deepen QLabs’ resolve to expand in the UK
In the past year, Australia and the UK have continued to strengthen bilateral relations. This includes the new AUKUS agreement, recent space and fintech bridges to strengthen cooperation, and the FTA signing.
These announcements have strengthened QLabs’ resolve to push ahead. The company has plans to build a major UK presence in 2022.
The multi-award-winning quantum cyber security company has been working closely with Austrade. It is taking advantage of the agency’s expertise on the ground.
‘We have benefitted greatly from Austrade’s services,’ Sharma explains. ‘Seamless trade agreements with our international partners are key to the successful and cost-effective export of our products.’
QLabs exports to over 10 countries including the United States, Mexico, Canada, Germany, France, the UK and Singapore.
The hyper-connected world needs mature security products
Founded in 2008, QLabs has built strategic cyber security services with global partners.
Combatting increasingly severe and sophisticated cyber threats requires a new type of cyber defence technology. The skilled QLabs team works with leading universities and the defence sector. Together, they work to mature quantum technology into the next generation of security products.
QLabs is working with the World Economic Forum Global Futures Council on Cyber Security to develop policy guidance on quantum technologies. It is also working to improve the integrity and traceability of global supply chains through integration into blockchain solutions.
Although the quantum technology sector is still emerging in Australia, CSIRO forecasts that Australia’s quantum technology could create a $4 billion opportunity for the nation. QLabs is looking forward to contributing towards realising this forecast.
The world’s fastest true random number generator – in miniature
QLabs’ product portfolio is a quantum resilient toolkit. It comprises 4 elements led by its quantum random number generator.
‘Most existing software number generators are not random enough and true random number generators are not fast enough,’ Sharma explains. ‘QLabs is proud to have developed the world’s fastest true random number generator. This innovation is improving security at cloud providers, banks and government agencies around the world.
‘We are one of the few companies in the world to have miniaturised our quantum random number generator. It’s shrunk from a two metre by one metre optics table, into a PCI card that plugs into a standard computer. Research and development towards further miniaturisation to a chip form factor is well progressed.’
Protecting sensitive data requires the ability to fight the cyber threat from quantum computers with quantum cyber security solutions. It involves encrypting data using truly random numbers at high speed.
In today’s digitally driven Internet of Things world, protecting data by making encryption impossible to unscramble is critical. So are integrated security software solutions. All of which QLabs is more than capable of delivering.
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