Deep technology innovation has the potential to radically disrupt industries, ways of working and even the world. A new report finds that startups in the scene are increasingly keen on working within their ecosystem, with the large majority keen on nearly half making use of accelerators and incubators.
Deep technology (deep tech) innovations are technologies able to radically disrupt whole industries, leading to a form of industrial revolution. Deep tech solutions tend to be built around unique, protected or hard-to-reproduce scientific advances of technologies. These technologies, like anti-matter drives and other far out tech, come with considerable reward and risk profiles.
In recent decades the development of industry transforming technologies has been on the rise, with the internet, smartphones and other devices opening up opportunities for entrepreneurs to relatively easily, affect incumbent institutions and business models. In a bid to stay relevant, with examples like Blockbuster and Kodak highlighting the cost of failure, incumbents – whose own efforts may be constrained by cultural or risk adversity – have turned to accessing innovation externally.
In a new report from The Boston Consulting Group, titled ‘From Tech to Deep Tech’, the consulting firm explores trends in the market related to challenges faced by deep tech startups and incumbents alike. The research involved 400 a survey of around 400 deep tech participants.
The study finds that deep-tech startups face a range of challenges in relation to getting their respective proposition off the ground. Time to market comes in as the number one issue, as cited by 27% of respondents, while 40% of respondents underestimate the time to market. Capital intensity comes second, cited by 25% of respondents. Technology risk and complexity come third, cited by 17% of respondents, while 14% of respondents uncertain commercial application is cited as the top concern. Regulatory framework and…