ID Quantique’s Expansion in Austria Amidst EU Negotiations Breakdown: The Impact on Swiss Prosperity

2023-11-06 04:45:09

Published on November 6, 2023 5:45 am.

In February 2022, the Geneva company ID Quantique opened an office in Vienna, Austria following the breakdown of negotiations around the framework agreement with the European Union (EU). Created in 2001, the pioneering company in quantum cryptography develops a technology which makes it possible to protect communications in particular by transmitting the encryption key via photons, has decided to slow down its expansion in Switzerland to be able to continue to benefit from the framework programs of the EU. It employs around 90 people in Geneva and around a hundred worldwide. Since 2018, it has been majority-owned by the South Korean operator SK Telecom.

For its director, Grégoire Ribordy, the more time passes, the greater the damage of this break with the EU for Swiss prosperity and will be difficult to repair. Especially since Switzerland is regularly singled out for its delay in the digital field.

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