Deep Technology: Innovative Engineering to Change Life

Flying cars in space and development of COVID vaccine through genome sequencing by Pfizer-BioNTech and Moderna were among few incredible, drawing people’s intrigue in “different/unique” technology innovations. Lets know more.

What is Deep Technology? Deep technology (or deep tech (DT)) represents any disruptive ‘fundamental’ scientific cross-discipline (or combinatorial) innovation that can reliably and durably deliver life impacting solutions (product/service). These innovations center mostly around significantly addressing social, industrial, economic, and environmental challenges. The DT solutions are often focused on B2B delivery model. Partial deep tech deployment is being tried in various industry segments, across the globe. Since current DT looks to tap future, most companies working in it are startups.

In 2014, Co-Founder & CEO, Propel(x), Swati Chaturvedi coined the term ‘deep technology’ to refer to the ‘group of startups’ working on ‘disruptive tech innovation.’ Propel(x) is an investment marketplace bringing transformative engineering startups and venture capitalists (VCs), together to showcase, explore, & fund opportunities from the pool.

Sciences Driving Deep Tech: STEM (Science (Physics, biology, chemistry, & medicine), Technology, Engineering, & Mathematics).

Deep Tech Ecosystem: According to BCG & Hello Tomorrow (2019), due to a low barrier requirement in procuring funds, knowledge (multi-disciplinary), skills, information, & proprietary, from across geographies, industries, and functions, deep tech ecosystem is an interdependent network of various entities. They are: 

• Deep tech startups (pace of prototype development & market reach) 
• Investors (funds, business network, & mentoring) 
• Corporations/industries (tech integration, industrial & commercial capabilities) 
• Academic & research institutions (talent & IP) 
• Facilitators/accelerators (networking, mentoring, facilities) 
• Government (basic research funding & framing conducive fiscal & legal policies for innovation) 
• Users

Qualification of Deep Tech Professionals: A key pre-requisite is technical aptitude, know-how, and adaptability to learn and apply more than 1 science stream, as needed, to develop the solution. Deep tech is about solving an existing problem, independent of ‘your’ academic discipline or ability. More than 1 technology or science and/or their combinations may be applied simultaneously to develop or achieve a solution. A band of engineers, scientists, entrepreneurs, etc. of different expertise work together to evolve a deep tech solution.

Examples of Deep or Transformational Technologies: Artificial Intelligence (AI), Natural Language Processing (NLP), Machine Learning (ML), Robotics & drones; Biotech (including synthetic biology), Photonics & electronics, advanced materials, reality extensions (Virtual Reality (VR), Augmented Reality (AR), Mixed Reality (MR)), Internet of Things (IoT), autonomous systems, Blockchain, Distributed Ledger Technology (DLT), 3D Printing, Quantum Computing & cognition, nanotechnologies, to mention some.

Some Famous Companies Involved in Deep Tech Development/Investment: Moderna, Pfizer, BioNTech, SpaceX, Blue Origin, Facebook, Amazon, Google, Ginkgo Bioworks

Key Deep Tech Centric Industries: Agriculture, computing, life sciences, green tech, chemistry, industrial tech, aerospace, telecom, green energy.

Deep Tech Uses: Some compiled examples of deep tech uses across various segments, at various adoption levels in different parts of the globe:

• IT & Communication: 5G Networks
• Healthcare & Life Sciences: Disease diagnosis, treatment development, disease prevention (like vaccines), omics, AI & ML driven medical devices, Biotech, synthetic biology, etc.
• Farming: AI driven inputs assessment & prediction to achieve desired agricultural output in quantity & type (like protein rich crops), vertical farming, robotics leveraging agricultural tools & techniques, etc.
• Environment: Advanced plastic recycling, Hydrogen & renewable fuel cells, green tech (or clean tech), relevant data & tech to reduce damage by humans on climate change, etc.
• Space: Aerospace tech
• Transport: Shared mobility, last mile delivery, automating vehicles, etc.
• Internet of Things (IoT): Smart homes, assistant robots, etc.
• Autonomous (Self-Operating) Systems: Cyber security systems, self-driving vehicles
• Factories/Production Units: 3D printing or additive manufacturing for manufacturing parts production, materials development (like 2D materials), Industrial Internet of Things (IIOT), robotics, etc., are deep tech driven automation technologies, setting up for fourth industrial revolution, Industry 4.0
• Finance: AI based Risk modelling, fraud detection, etc.
• Education: AR/VR driven toys & learning systems, etc.
• Point of Use Sensing Devices: For security, medical safety, environmental preservation, etc.
• Optimal Battery Usability & Durability: Solid state batteries & flow batteries, fast charging, etc.
• Workforce Development: Digital employees
• Electronics: Computing system architecture, semiconductors

Most Active Deep Technologies: In 2019, Capital IQ, Quid, BCG Center for Innovation Analytics, & BCG Hello Tomorrow analyzed over 1300 deep tech startups in 51 countries and 401 cities to find the most active technologies then.

7 Most Active Deep Tech Startups (in the descending order of number of companies working on these technologies, according to the 2019 Hello Tomorrow report. Image: The Syntax Systems, India)

Global Deep Tech Investment Scenario (March 11, 2021  BCG report): Deep tech investments (including private investments, minority stakes, mergers & acquisitions, and IPOs) across the world, quadrupled from $15 billion in 2016 to over $60 billion in 2020. (Image: TSS, India)

USA, Europe, Israel, India are just some economies working on deep tech niche. The investments are growing by leaps and bounds with USA leading the deep tech development & investment globally. 

                                                            

                                                   -by Rakhi Sinha, Founder & CEO, The Syntax Systems, India