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Deeptech companies important for Swedish competitiveness

Sweden's deeptech companies have great potential to contribute to solving the societal challenges we face today. Deeptech companies' focus on research-intensive technology can simultaneously pave the way for Sweden as a leading industrial and innovation nation. On June 1-2, Sweden will host a high-level EU conference on the importance of deeptech for the green and digital transition.

This web page has been machine translated. If there are any uncertainties, please refer to the Swedish text.

Deeptech is a broad term that is increasingly used in both Europe and the US. It is about ground-breaking technology that can change the way we are, act and see our own time and the future.

Deeptech makes it possible to solve several of today's major global challenges in radically new ways.

Research-intensive technology can lead to advances that challenge or change the conditions for entire industries, or for segments of the global economy. It includes technologies such as artificial intelligence (AI), quantum technology, robotics, 3D printing, nanotechnology, biotechnology, among others.

- Deeptech is not about single technologies or technology development. Successful deeptech companies are problem-oriented and combine science, engineering, design and entrepreneurship. Deeptech makes it possible to solve several of today's major global challenges in radically new ways, says Josefin van der Meer, national contact person for international cooperation with a focus on deeptech

In a joint report, Vinnova and Tillväxtverket highlight needs and opportunities to improve deeptech companies' conditions. The report points to how Sweden can benefit from deeptech in the international competition as a country at the forefront of research-intensive technology.

Sweden holds the EU's high-level conference on deeptech

As chairman of the EU's Council of Ministers, Sweden is also hosting a high-level conference June 1-2 on technology-intensive entrepreneurship - deeptech - for an innovative, resilient and competitive internal market. The conference is held in collaboration with the European Innovation Council (EIC) and can be followed digitally. Topics discussed include how cooperation between small and large companies and academia can be improved. What role and importance research-intensive companies have for the green transition and what the financing needs look like.

Kalender

At Vinnova, we define deeptech as ground-breaking technology that requires intensive research and development with large time and capital requirements to go from idea to market application.

What differentiates deeptech companies from regular startups?

Deeptech companies, also called research-intensive companies, are companies with long development cycles. They are often behind the most ground-breaking ideas and have potential to solve the major societal challenges of our time. Deeptech companies play an important role for the future economy, competitiveness and labor market.

Deeptech is ground-breaking technology that requires intensive research and development with large time and capital requirements to go from idea to market application.

Innovations based on deeptech require a lot of capital combined with specialized technical and commercial expertise, even in the early development phases. The innovations also have a higher risk and greater uncertainty – both technically and commercially. They also need significantly longer to go from research results to market breakthroughs.

The companies therefore take great risks, but at the same time often have problems with raising capital. Therefore, it is especially important to create the right conditions so that the companies can survive and remain in Sweden and the EU.

Vinnova report on using deeptech's strengths

On October 4, 2021, the government commissioned Vinnova and Tillväxtverket to analyze and propose improvements for the conditions for research-intensive companies to be able to scale up and grow in Sweden, with a focus on deeptech companies.

During implementation, the government assignment has had an ecosystem perspective and demonstrated several strengths in academic research, intangible assets, start-up companies and established businesses. At the same time, the work has shown certain shortcomings in the ecosystem that need to be addressed so that Sweden can benefit from these strengths in the future and in international competition.

In the report, Vinnova and Tillväxtverket highlight three important points that can improve deeptech companies' conditions.

  • Sweden needs a national deeptech strategy as a basis for investing in power
  • Development of financing instruments and public risk sharing
  • Development of the deeptech ecosystem

Report: Conditions for deeptech in Sweden

Report

Förutsättningarna för deeptech i Sverige

Regeringsuppdrag inom deeptech som visat på både styrkor och vissa brister i ekosystemet.

Learn more about deeptech via Chat GPT

Begreppet Deeptech is used to describe technology that is based on scientific research and that often requires large investments in research and development. Deeptech includes, for example, technology such as artificial intelligence, quantum technology, robotics, 3D printing, nanotechnology, biotechnology.

Deeptech refers to advanced technological innovations that are unique in their kind. These innovations often have a profound impact on society and can have great potential to solve complex problems or change the industry in a profound way. By investing in deeptech, countries can create new business opportunities, increase their competitiveness and enable major advances in various social sectors, for example in health, energy and transport.

To be successful in deeptech, it often requires significant investments in research and development as well as having access to qualified labor and investors who understand the technology. Building a successful deeptech ecosystem also requires that there is a favorable environment that promotes innovation and business.

Sweden has several high-tech companies active in deeptech, and the government has set ambitious objective to support deeptech development. In June 2021, the government launched a national strategy for artificial intelligence that aims to make Sweden a leading player in AI research, which is based on research-intensive technology development.

The ambition is that we should be able to take advantage of the deeptech trend and position Sweden as a leading country in research-intensive technology.

Source: ChatGPT3, openai.com

Funding within deeptech

Funding

Emerging technology solutions step 1 2023

Last updated 11 May 2023

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