The Research Council of Finland announced on October 24, 2023, that it had added the Finnish Quantum Flagship (FQF) to its flagship program, with funding decisions expected in January 2024. Aalto University was named the coordinating institution, with Professor Peter Liljeroth serving as FQF Director. According to the InstituteQ announcement, the flagship brought together experts in physics, computational science, mathematics, nanoscience, and economics.
FQF was planned as an eight-year project (2024-2031) hosted within InstituteQ. Its host organizations included Aalto University, VTT, the University of Helsinki, the University of Jyvaskyla, Tampere University, the University of Oulu, and CSC-IT Centre for Science. InstituteQ Director Jukka Pekola noted that since its founding in 2021, InstituteQ had built a roadmap for coordinating quantum research, education, and business on a national scale.