Cracking the code - Iceberg Quantum’s journey

When SQA scholar Felix Thomsen began his PhD at the University of Sydney, commercialisation wasn't the endgame. But a breakthrough in quantum error correction, and a realisation that no one else was building what needed to exist, set him and his co-founders on a path to founding Iceberg Quantum.

Now, backed by a $2 million pre-seed raise led by Blackbird Ventures, and partnerships with PsiQuantum, Diraq and Oxford Ionics, Iceberg Quantum is betting that its new class of error-correcting codes could fast track the arrival of practical, fault tolerant quantum computers.

“You don't need permission to think about the commercial side of what you want to do,” Felix told the audience at a recent Quantum Innovators Network event hosted by Sydney Quantum Academy (SQA), where he spoke candidly about his journey from PhD scholar to startup founder.

The event, chaired by Diraq Chief Operating Officer, Stefanie Tardo, brought together researchers, students, founders, and ecosystem members for an honest look at building a deep-tech startup in Australia.

From Curiosity to Commercialisation

Felix and his fellow researchers – now co-founders, Larry Cohen, and Sam Smith - were deep in their PhDs when they identified a problem.

Qubits, the basic units of today’s quantum computers, were being stabilised using highly inefficient methods. To move towards large-scale, reliable machines, many physical qubits need to be combined into what’s called a logical qubit.

Their innovation produces new error-correction schemes that drastically reduce the overheads required for fault tolerant quantum computing. “Designing these architectures is still very much underrated,” Felix said.

Rather than waiting for a global player to solve this problem, the trio decided to build the solution themselves.

“We didn’t want to start a company for the sake of it,” Felix said. “We were definitely all generally inclined to want to start something. We talked about it a lot and then decided, that we need a dedicated company.”

The Reality of Founder Life

However, the leap from PhD researcher to founder wasn’t as straightforward as it seemed at first.

“I think it helps to have a bit of a naive mindset going into it,” Felix laughs. “I was surprised by how quickly my job became very focused on writing emails and taking meetings and fundraising. I had no more uninterrupted periods to work on technical stuff.”

Even before launch, setting up the company infrastructure, from legal paperwork to operations—was far more involved than expected. Support came from programs like Blackbird’s Foundry, designed for PhD students curious about startups, and training through SQA, which provides workshops on pitching and communication.

Still the learning curve was steep “If you want to start a company, you have to have a lot of clarity. Write down exactly what you’re trying to do. That’s a good first step.”

Why Sydney?

While many quantum startups gravitate toward tech hubs like Silicon Valley or Boston, Iceberg Quantum chose to stay in Sydney.

“If we thought it made sense to move to Silicon Valley, I think we would have,” Felix admits. “The first three or four people we hired are local…and they've been amazing. So, the talent pool piece was really good.”

Collaborating in Deep-Tech

The startup’s progress hasn’t come in isolation.  Thomsen is quick to point out that fault tolerant quantum computers will require hardware, software, and theory to progress in lockstep.

“We know what’s unique to our architecture, but collaboration is essential.”

That mindset has already led Iceberg Quantum to partner with PsiQuantum, Diraq and Oxford Ionics. Many of these relationships, Felix notes, began during his student years – at conferences, workshops, and networking events.

A Playbook for Researchers turned Founders

Felix’s journey offers a playbook for other researchers contemplating the leap into entrepreneurship.

1. Clarity is key. “Write down exactly what you want to do. That’s a good first step.”

2. Learn to tell your story. “It took us a long time to get better at pitching and communicating what we’re building.” Learn how to translate complex ideas into clear, engaging language. People connect to your vision, not just your technology. That matters for fundraising, building partnerships, hiring talent, and rallying support around your mission.  

3. Don't wait for permission.  “Science people often feel like they need permission to think commercially. If your work solves a real problem, it's valid to think entrepreneurially.”

4. Value connections. Build genuine connections across the ecosystem. “Some of our earliest supporters were people we met in the SQA quantum community who understood what we were trying to do and helped us along that journey, which was very, very valuable.”

Looking Ahead

Iceberg Quantum is now focused on scaling, building the team and deepening collaborations. “We’re excited to be part of that journey and work towards the first utility-scale systems,” he said.

With fault-tolerant quantum computing still on the horizon, startups like Iceberg Quantum are solving problems that will make the vision real. Their approach may be highly technical, but their ambition is deeply human: to turn abstract research into something that changes the world.

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