The Quantum Leap: Turning groundbreaking science into a game-changing startup

Read more of the post The Quantum Leap: Turning groundbreaking science into a game-changing startup
Dr. Aaron Tranter, co-founder and CEO of machine learning startup Aqacia, provided a deep dive into how the company is redefining the startup model.
“Not everyone you deal with will ‘get it,’” said Dr. Aaron Tranter, co-founder and CEO of ACT-based startup Aqacia. Dr Tranter was speaking at the Quantum Innovators Network event hosted by Sydney Quantum Academy on 29th October 2024, chaired by Rupal Ismin, Director of the Sydney Knowledge Hub,
As the convergence of machine learning (ML) and quantum technology reshapes industries—enabling faster, more efficient, and more accurate data analysis and decision-making—a new breed of innovators is emerging. Dr. Aaron Tranter, a research fellow in Quantum Science and Technology at the Australian National University (ANU), exemplifies this shift. With a deep research background in machine learning, quantum communications and atom-light interactions, Dr. Tranter now leads Aqacia, a machine learning startup tackling complex technical challenges across sectors like renewable energy, advanced manufacturing, and quantum technology.
Unlike traditional startups, Aqacia is building its business through independent funding and a consultancy-based growth model, expanding through revenue earned by solving practical, high-value problems such as defect detection in renewable energy and predictive health monitoring in space environments. “For us, it’s about solving complex issues that others find challenging,” said Dr. Tranter.
From Research to Commercialisation: The Birth of Aqacia
Aqacia’s potential emerged when Dr. Tranter’s research, Multiparameter optimisation of a magneto-optical trap using deep learning’ was published in Nature Communications in 2018.
He initially explored commercialisation through ANU’s tech transfer office, encountering challenges associated with commercialising research-based technology. “Tech transfer offices are not always equipped for all models of commercialisation,” Dr. Tranter said, explaining how Aqacia had to adapt to a landscape that traditionally supports physical product patents rather than complex, software-based solutions.
Dr. Tranter also faced rejection on the path to commercialisation, noting that "not everyone you deal with will 'get it.'" A turning point came when he participated in Cruxes Innovation’s Ascend startup accelerator program, where he undertook product validation. During this time, he realised that he could operate on a spectrum of what he termed “degree of industry-ness,” ranging from a Moonshot CEO to a Pure Scientist, and that he could exist “somewhere between academia and industry, doing something that worked well and having some degree of impact,” he said.
Balancing Academic Roots with Startup Ambitions
Aqacia’s close ties with ANU provide access to emerging talent and critical resources, further bolstered by the ANU Momentum program, which offers office space and additional support in exchange for contributions back to the university.
These academic connections also help attract high-security clients, including those in blockchain, who require a trusted source for services like quantum random number generation. “People see the university affiliation and know we’re not just profit-driven,” he explained.
Strategic Partnerships and Expansion
On its path to commercial viability, Aqacia partnered with various academic collaborators. This year, the company entered a joint venture with 2Pi Software enabling them to scale software solutions for broader markets without building an internal development team. This approach allows Aqacia to remain lean while expanding services to new clients and industries.
A road less travelled
Dr. Tranter readily admits he doesn’t see himself as a “typical CEO.” “It feels the same as being a post-doc,” he joked. “Being CEO doesn’t form a large part of my identity—I’m a scientist first.” He also emphasised the importance of surrounding oneself with people who enjoy tackling the tasks that aren’t personally appealing when building a business. Rupal Ismin added a practical recommendation, suggesting Airtree’s open-source library of resources for founders.
Dr. Tranter highlighted Aqacia's approach to growth through industry grants and consultancy services to drive product development and expansion. Aqacia stands as a model for how quantum-focused startups can thrive without venture capital, leveraging partnerships, collaborations, industry grants, and consultancy revenue to fund growth.
The Quantum Innovators Network is a Sydney Quantum Academy community event designed to empower entrepreneurially minded quantum innovators. To stay informed and hear about our future events, seminars, job opportunities and more, join our mailing list.
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