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2021: the year of Deep Tech. This was very rewarding to work on with @StephenNundy @nathanbenaich @ingadeakin @rodolfor @svennj @surangac @sirajkhaliq @Nicolas_Colin @gdibner, the @Siftedeu team, @dealroomco incl super hard work by @I_Anihimovskaya
A quick thread....
https://twitter.com/dealroomco/status/1347462677354983424
A quick thread....
https://twitter.com/dealroomco/status/1347462677354983424
1/ Europe’s Deep Tech companies are worth a combined €700 billion today, of which over €180B from companies founded since 2000. But there’s much more potential to be unlocked.
2/ Many of Europe's top Deep Tech companies have their roots in academia and drew early support from government grants. BioNtech is a prime example
3/ There are many more such examples... Europe’s research truly is world-class. The innovation coming out of European academia is there. But there’s lots of unrealized potential and wealth transfer to the US/Asia.
4/ University Spinouts should get simpler and faster deals. Check out the comments on a Linkedin post from @WorkMJ They are very telling https://www.linkedin.com/feed/update/urn:li:activity:6755015401316388864/
5/ Plus training first-time academic entrepreneurs and tech transfer officers would help foster academic entrepreneurialism, says @ingadeakin, and this fits with the goal of @NewtonProgramVC
6/ To create more data transparency, @dealroomco is this year investing in its data on university spinoffs. Here's a preview. Comments are most welcome: https://app.dealroom.co/lists/18527
7/ Treating "Deep Tech" as a standalone policy objective isn’t going to work. By default, AI favors big incumbents with data and existing networks. So it comes down to entrepreneurship as much as (if not more than) building the tech
8/ Sure, Deep Tech is super exciting (quantum, fusion, curing cancer) but also a rather vague policy objective, and seems to imply an obsession with tech, rather than with having competitive solutions
9/ The goal should not be to build Deep Tech, but rather foster competitive companies, that can straddle disciplines and manage to break through silos. This requires top entrepreneurs, hiring brilliant teams across disciplines
10/ That's why policies aimed at helping European entrepreneurialism such as stock options (cc @NotOptional ) are just as important for Deep Tech. But there's more that can be done.
11/ Closer collaboration between silos is needed to support Europe’s most promising Deep Tech startups, as emphasized by @StephenNundy
12/ In order to attract the top talent to R&D funding (which should be the primary goal), processes need streamlining. Finland and Sweden are probably best-in-class here says @rodolfor
13/ Even after streamlining R&D funding, Europe could benefit from replicating some more strategic approaches of the US (DARPA) and China, to ensure tech leadership (outside academia) in areas that are going to become important in 2035+ @rodolfor argues: https://rodolfor.medium.com/a-case-for-british-darpa-57b7b462e427
14/ Major technological breakthroughs have been accumulating at an accelerated pace. That's why we're saying 2021: the year of Deep Tech. @TheEconomist calls it "a dawn of technological optimism" https://www.economist.com/leaders/2021/01/16/why-a-dawn-of-technological-optimism-is-breaking?frsc=dg%7Ce
15/ This report aims to better establish what Deep Tech actually is, how Europe’s ecosystem works, how it can compete, desirable policy, and explores the most promising categories. Hope you enjoy it and comments most welcome: https://blog.dealroom.co/2021-the-year-of-deep-tech/
