The field of deep technology is gaining significant momentum, as evidenced by an array of startups focused on innovative solutions that promise to redefine various industries. Deep tech, distinct from conventional high-tech startups, encompasses groundbreaking advancements driven by scientific research and comprehensive engineering processes. According to insights provided by "Insights Success," the global deep tech market is on an upward trajectory, with its estimated value increasing from nearly $600 million in 2023 to approximately $700 million in 2024. Analysts anticipate the market will continue to grow by roughly 25% annually as demand for advanced technologies rises.
The surge in deep tech investment is fuelled by its capacity to tackle complex global challenges. Companies within this sector are developing novel methods for cancer treatment, improving environmental sustainability, and advancing artificial intelligence. Financial backing from government and major corporations underscores the recognition of deep tech as a catalyst for future innovation, particularly in critical areas such as quantum computing, biotechnology, robotics, and next-generation materials.
Several noteworthy startups are at the forefront of this evolving landscape. Altos Labs, an American biotech company co-founded by Rick Klausner and Hal Barron in 2022, is dedicated to longevity research. The company's efforts focus on cellular rejuvenation, specifically through partially reprogramming cells to restore them to a youthful state. This innovative approach has the potential to pave the way for new treatments for various diseases, injuries, and disabilities.
In a similar vein, the Holiverse company, led by Lado Okhotnikov, is exploring the intersection of biotechnology and digital modelling. Holiverse aims to create a digital twin of the human body, effectively a virtual model controlled by artificial intelligence. The initial goal is to simplify understanding health-related changes, making personal health reports, predictions, and dietary recommendations more accessible to a broader audience. Holiverse anticipates further developments will include regular health monitoring and tools to enhance cognitive functions.
Across the Atlantic, Universal Quantum, a UK-based startup established in 2018, is striving to revolutionise quantum computing. Its ambitious plan involves creating a million-qubit quantum computer capable of solving complex problems in seconds—tasks that would currently take tens of thousands of years. The company emphasises a modular approach to its technology, which allows for scalability and adaptability in response to researchers' needs. Significant strides have already been made in error correction within their unique quantum architecture.
Another notable entrant is Finnish startup Aircohol, which has developed an innovative method of generating alcohol using carbon dioxide produced during fermentation. This process not only enhances the sustainability of alcohol production but also results in the creation of nutrients that can be utilised in the food industry. As highlighted by the company, “Alcohol can be made literally out of thin air, so we help the planet and give alcohol producers new opportunities to reduce production costs.”
Furthermore, deep tech applications extend into climate resilience. Companies like Climate Resilience are implementing forecasting tools that allow businesses to anticipate weather-related disruptions. This innovative capability is exemplified through the coffee industry in Indonesia, where knowledge of impending heavy rains enables stakeholders to make informed operational decisions, thereby minimising potential losses.
Overall, the deep tech landscape is characterised by a commitment to long-term transformative changes rather than seeking immediate results. These emerging technologies have the potential to profoundly shift business practices and societal structures globally, marking a significant era of innovation that is likely to continue evolving over the next decade.
Source: Noah Wire Services