D-Wave

In 2003, the field of quantum computing was in disarray. Nobody had a working pair of solid-state qubits and a plan to scale. The team at D-Wave was successfully recruiting talent, but they lacked strong experimental results to show progress in gate model computing. Dr. Geordie Rose, founder and CEO, flipped the company over and pushed for adiabatic quantum computing.

Miles Steininger, IP Officer, implemented the change. Educating the team on the new computing model, gathering requirements, and recording the ideas proposed and decisions made. Plus he refined and expanded ideas, and filed patent applications for inventions in the adiabatic and annealing models. Indeed, he wrote many patent applications for this pioneering company.

ClientD-Wave

The new direction was the winner. D-Wave is building and selling quantum computers. It weathered the critics. Its successes and IP portfolio caught the leader of a SPAC. D-Wave’s IPO valuation at the time of its SPAC merger in 2022 was approximately $1.6 billion. However, the company is now publicly traded on the NYSE with significantly higher market cap of around $10.61 billion.
2003: quantum computing fragmented; no scalable solid‑state qubits or clear scaling path.
D‑Wave attracted talent but lacked gate‑model results; Dr. Geordie Rose, CEO, pivoted the company to adiabatic quantum computing.
Miles Steininger, IP Officer, managed the change: educated the team, gathered requirements, documented decisions, refined concepts, and filed patents in adiabatic/annealing models, and drafted the patent applications.
Outcome: D‑Wave began selling quantum computers, overcame skepticism, built a strong IP portfolio, and attracted investors.
Financial milestones: SPAC merger valuation ~USD 1.6B in 2022; current NYSE market cap ≈ USD 10.61B.