Quantum Computing offers revolutionary possibilities for future technologies. Quantum applications include drug development, logistic control, and portfolio optimization in finance. To use quantum computers in the related industries, the size of quantum processors has to increase by roughly one million compared to the current state-of-the-art. Large efforts in this direction are driven by the US and China. To ensure the success of the European quantum ecosystem, we have recently launched IQM, a company to develop scalable quantum processors. Together with European research partners, our goal is to establish Europe as the leading player in commercially viable quantum technologies.