Deeptech is Dead, Long Live Science-Based Innovation

The term "Deeptech" once held a certain reverence within the innovation ecosystem. It represented the cutting-edge intersection of scientific research and technological advancement. Deeptech was about leveraging intellectual property (IP) generated from rigorous research to create groundbreaking solutions with the potential to reshape industries and address complex global challenges. However, much like the agile movement that transformed software development, the meaning and impact of Deeptech have been diluted over time. Today, exponential technologies that were a small subset of Deeptech have now become the hallmark. These technologies — AI, machine learning, blockchain, robotics, and automation—have become ubiquitous, with many startups adopting the label without the foundational science or research-based origins that once defined the term.

This shift has led to a crucial realisation: the term Deeptech no longer carries the weight it once did. Instead of signifying profound technological breakthroughs rooted in scientific discovery, it has become a buzzword, applied broadly and often inaccurately. The dilution of Deeptech calls for a return to the essence of what truly drives transformative innovation: science-based research and the commercialisation of IP.

The Evolution and Dilution of Deeptech

Deeptech's origins are deeply entwined with academia and research institutions. These entities foster environments where fundamental scientific questions are explored, leading to discoveries that can be translated into technological advancements. Early Deeptech companies were born out of universities, national labs and corporate research centres, bringing forth innovations that required years of development and a deep understanding of scientific principles.

However, as the popularity of Deeptech grew, so did the number of companies self-identifying with the term. Once considered groundbreaking, technologies like AI and blockchain have become more accessible and widely adopted. This democratisation of technology is not inherently negative; it has spurred innovation across various sectors. However, it has also led to a proliferation of startups branding themselves as Deeptech without the rigorous scientific foundation that the term implies.

The Consequences of "Shallow" Deeptech

The misapplication of the Deeptech label has several consequences. First, it creates confusion among investors, stakeholders, and the public about what constitutes truly transformative technology. Companies that lack a strong scientific basis but market themselves as Deeptech can divert attention and resources away from genuine science-based innovations. This misallocation can hinder the progress of technologies that require significant time, funding, and expertise to develop.

Second, the dilution of Deeptech risks undermining the credibility of the term itself. When every startup with a new application of AI or blockchain is considered Deeptech, the distinction between incremental improvements and revolutionary advancements becomes blurred. The original spirit of Deeptech—pushing the boundaries of what is technologically possible through rigorous scientific research—is lost.

Reclaiming the Essence: Science-Based Innovation

To address these challenges, it is essential to refocus on the core principles that made Deeptech significant: the commercialisation of research and IP. Science-based innovation must be at the forefront of our efforts to solve complex global problems and drive economic growth.

Science-based innovation requires a commitment to deep research, often conducted over many years and the translation of this research into viable products and services. It involves multidisciplinary collaboration, where experts from various fields come together to tackle challenges that no single discipline can solve alone. This approach not only leads to technological breakthroughs but also ensures that these advancements are grounded in robust scientific principles.

The Role of Academia and Research Institutions

Academia and research institutions play a pivotal role in fostering science-based innovation. They provide the environment and resources necessary for fundamental research, which is the bedrock of transformative technologies. Partnerships between universities, research centres, and industry are crucial for translating scientific discoveries into commercial applications.

Furthermore, policies and funding mechanisms should support long-term research initiatives and the commercialisation of IP. Governments, private investors, and public institutions must recognise the value of investing in science-based innovation, even if the returns are not immediate. This long-term perspective is essential for nurturing the next generation of Deeptech companies—those that truly embody the principles of scientific rigour and technological advancement.

Long Live Science-Based Innovation

Deeptech, as it was originally conceived, may be dead. The term has been co-opted and diluted to the point where it no longer conveys the depth of scientific and technological innovation it once did and now includes technologies that bring an application layer upon what once was Deeptech. There is nothing wrong with this dilution, but let's acknowledge its existence. The spirit of Deeptech— "science-based innovation" driven by rigorous research and the commercialisation of IP is important and remains more relevant than ever.

Science-based innovation ensures that the next wave of technological advancements is rooted in robust scientific principles, capable of addressing the complex challenges of our time.

Deeptech may be dead, but long live science-based innovation.

If you have managed to read this far, thank you. This essay is meant to be tongue-in-cheek and I don't believe in elitism in commercialisation and entrepreneurship based on technology or value proposition. I am, however, passionate about creating impact from science and optimising the pathways of getting research into the hands of entities, including businesses and entrepreneurs that can build transformative products and services. Science commercialisation is at the core of my career and it is something I am passionate about. I have been involved in developing and commercialising over 100 technologies including green hydrogen technologies, aethalometers and air monitoring solutions, novel cancer agents, tractor implements, machine learning algorithms for education and advertising, and energy storage solutions. I have founded a Deeptech incubator and grown an innovation community to over 40 startups. If you have enjoyed this essay please share it with your network.