114. What is Deep Tech?
Companies like Deep Mind fascinate investors and innovators, but what is a deep tech company really and how does it differ from other types of tech firms? Listen to this episode to find out.
Learning notes from this episode:
- Deep Tech is a sub-sector of the technology sector where the emphasis is on tangible engineering innovation or scientific advances and discoveries. It includes artificial intelligence, robotics, blockchain, advanced material science, photonics and electronics, biotech and quantum computing.
- Deep Tech is usually B2B: these companies usually sell their innovations to other businesses, rather than directly to consumers.
- Deep Tech companies are usually founded by technical founders, and sometimes have non-technical co-founders who help them commercialise the innovation. A good example is biotech tech start-up Vitro Labs, where a scientist teamed up with a fashion industry expert to create laboratory grown leather.
- The biggest risk to Deep Tech companies is getting over-excited by technological innovation at the cost of seeing whether the new technology is creating any actual value.
- “The winning company is not always the one with the best technology. Tech can be a differentiator, but usually it’s only temporary. The job of a venture capitalist is not to figure out which company has the best tech. It’s to figure out which company has the best business that can ultimately be the biggest impact,” said Colin Beirne, co-founder of Two Sigma Ventures, a deep tech investor.
Resources mentioned in this episode:
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