Zama’s Jeremy Bradley gives advice on how to grow a business in the deep-tech space.
In the past several decades, technology has profoundly altered our lives, both personally and professionally. More recently, the very definition of technology has evolved, with the rise of AI and big data, technology is continually expanding to include new concepts that capture a diverse and ever-changing landscape.
Among these newer concepts is deep tech, a term referring to innovative companies dedicated to developing solutions for complex technical challenges. These firms focus on science, engineering and research, prioritising the creation of technology as intellectual property over mass commercialisation.
Deep-tech companies, with their potential to innovate universally applicable technologies, attract forward-thinking investors eager to lead the next tech revolution.
Recent analysis shows that deep tech claims a steady 20pc of venture capital funding, with deep-tech-focused funds yielding returns of 26pc. This investment interest underscores the importance for founders and C-level execs of effectively managing their companies and resources.
The value of a deep-tech company lies in its employees’ knowledge and skills – researchers, engineers, analysts and scientists working on core technology. While commercialisation may take time, numerous actions can maximise this technical knowledge and bolster the business side.
Sharing is caring
Despite the time it takes for technological advancements to manifest, it’s vital for companies to maintain communication with their audiences, updating them on developments and sustaining interest.
A key method for sharing in-depth knowledge is through white papers. These documents, mixing knowledge-sharing with detailed explanations and examples, serve as effective marketing tools, presenting products scientifically and technically rather than as self-promotion. They inform the public and target audience about the company’s achievements, highlighting the talent and contributions within.
White papers are particularly suitable for bigger projects that require more focus on the theoretical side, many of the applications and developments in the technology can be introduced in a more dynamic way and present a more hands-on approach.
For more dynamic presentations of technology applications and developments, practical demonstrations and tutorials can effectively illustrate the practical uses of the technology. These engaging formats, featuring various team members, showcase the company’s creativity and communication skills.
In the realm of deep tech, community engagement is crucial for continuous technological evolution, similar to the scientific field. Engaging with the community through meet-ups and external speakers can promote openness and offer valuable feedback.
It takes a village
Going one step further, a bounty program can provide additional technical insights on the technology your company is developing.
Classic bounty programs are usually about finding vulnerabilities in a new product or technology before it hits the market. Where there might be some risks in putting your tech out there – no bugs are found or someone might try to misuse their access to the technology – there are many advantages for your company in promoting this initiative.
By submitting your technology to a strong, external stress-test, you can show transparency and confidence in your product. A bounty program can also be a great way to find the right talent, and even to discover new use cases. By turning the program into a competitive grant, inviting participants to explore the technology and applying it to ideas and projects of their own, you can discover new potential applications and business opportunities.
Even with some variations, bounty programs still mostly operate within a given framework. Hackathons offer a different approach, focusing on creativity at a product level: here the community is given access to the technology to explore its potential, with participants encouraged to put it to the test in a collaborative rather than competitive way. Not only do hackathons cultivate a spirit of communion – they can last a few days, bringing participants physically together and become a learning opportunity for all those involved – they also present many advantages for your business.
Putting the technology in the spotlight is a way to explore its full potential as well as legitimate its efficiency and usefulness, especially with external hunters; but participants can also be employees less involved in the technical side, who can take this opportunity to learn about the company from a different perspective such as marketing or business development.
When developing deep-tech products, it’s important to note that there is no one-size-fits-all approach. Far from being a limitation, the adaptability of the strategies explained above ae actually an additional point of strength; you can customise them to your company culture and mission, adapt to different products and audiences, and use them to grow your business and explore new markets.
Promoting these types of initiatives is an investment in the future of your company: playing to your strengths – with contained costs – you can create dedicated platforms and channels that will position you as a leading expert voice in the industry and unlock business opportunities.
Jeremy Bradley is the chief operating officer at Zama where he oversees day-to-day operations. He is a cross-functional and highly tactical leader who has worked with many organisations to shape strategy, drive communications and partnerships, and lead policy and process. He previously wrote about the value of cryptography for workplaces on SiliconRepublic.com.
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