Startups are hard. Deep-tech startups are harder. There is an added element of technical risk along with market, regulatory and financial risks. The time to market is several years making it crucial to balance customer and product development with the technology development. Note that what is deep-tech today may not be so in the future as the technology matures.A moat is your startup's defensibility — i.e., your business's ability to maintain a competitive advantage to protect long-term market share and, therefore, make more profits.
A moat is your startup's defensibility — i.e., your business's ability to maintain a competitive advantage to protect long-term market share and, therefore, make more profits.
All this means that deep-tech startups require greater upfront investment compared to other startups in order to become successful businesses. However, raising sufficient initial capital is conditioned on many factors, some of which are beyond the control of the founding team. Hence, we focus on a scenario where a deeptech startup has to execute after raising very limited capital. What follows is a recipe for commercializing a deep-tech startup idea with very limited resources. Like any recipe, it is not to everyone’s taste and it only applies given severe resource limitations. Furthermore, this is a complete recipe, described at a high level. Each step of the process can be dissected into detailed strategies and concrete tactics. This might be done in future posts. Pre-requisitesA founding team that is 100% committed to the process of startup buildingComplementary skills and deep domain knowledge amongst the founders.Access to highly-skilled low-cost talentDetermination and resilience. Lots of it.A scrappy mindset for doing anything.Ruthless focus on execution. Method Step 1: An idea is born.
The first step is the birth of the idea itself. These are typically developed in an academic or industrial research environment.. It starts with one or more scientific discoveries or engineering innovations that may have several promising practical applications. The applications may not be immediately obvious at the time of discovery. The founding team must have had a direct exposure to these environments and understand the gaps in the science or technology that need to be filled in order to commercialize the technology. Step 2: Map out the market opportunities