Deeptech companies important for Swedish competitiveness

Deeptech is a collective term for ground-breaking and research-intensive technology and its application through disruptive innovation. In its use, deeptech can lead to advances that challenge or change the conditions for entire industries, or for segments of the global economy. It includes, among other things, cutting-edge technology in areas such as artificial intelligence (AI), quantum technology, robotics, nanotechnology and biotechnology that make it possible to solve several of today's major global challenges in radically new ways.

Deeptech companies solve global challenges

- 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 at Vinnova.

This distinguishes deeptech companies from ordinary startups

Deeptech companies have long development cycles and work close to the cutting edge of research. They are often behind the most ground-breaking ideas with potential to contribute solutions to the major societal challenges of our time. Deeptech companies play an important role for the future economy, competitiveness and labor market.

Deeptech is based on ground-breaking technology, requires intensive research and development with large capital requirements to go from idea to market. The solutions usually involve the development and production of physical products that use a combination of digital and physical technologies.

Deeptech innovations require a lot of capital combined with specialized technical and commercial expertise, even in early development phases. The innovations also have a high technical and commercial risk and great uncertainty. Deeptech companies also need more time to go from research results to market breakthroughs than other technology companies.

Therefore, it is especially important to create the right conditions so that the companies can survive and remain in Sweden and the EU.

Strengthen the conditions for deeptech in Sweden

In the Accelerate deeptech in Europe report, Vinnova and the Patent and Registration Office (PRV) highlight needs and opportunities to strengthen the deeptech scene in Europe based on the Swedish EU conference "Deep tech entrepreneurship for an innovative, resilient, and competitive internal market" held in 2023 The report focuses on the perspectives of ecosystem development, intangible assets and funding.

Rapporten Förutsättningar for deeptech in Sweden points to several areas of Swedish strength and what needs to be addressed in order for Sweden to benefit from these strengths in the future, in international competition.

Three important points to improve the conditions of deeptech companies:

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

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