The 3 cornerstones to deep tech investing: ecosystem connection, market applicability and timings

• Mobile World Capital Barcelona’s innovation program The Collider held Go Next!, a business meeting on the strategic value of deep tech-based innovation.
• Repsol, Enel, Bayer and HP innovation managers spoke about the particularities of deep-tech investment, as well as about the importance of cooperation between the scientific and corporate communities.
• Europe’s deep-tech industry is valued at 700 billion € and experts maintain it will drive competitiveness and corporate growth.

July 18, 2022

Mobile World Capital Barcelona’s innovation program The Collider held Go Next!, a business meeting on the strategic value of deep tech-based innovation.

During the meeting, moderated by Mckinsey’s Senior Associate Partner Pep Viladomat, open innovation strategies of companies focused on collaboration with other organizations and external professionals in order to optimize resources were discussed. Repsol’s Open Innovation Hub Silvia Pérez, Pharma Spain’s Digital Lead Anabel Leon and Antonio Castellanos, from Enel Europe Innovation Hub, were also part of the panel of experts.

The session ended with an interesting dialogue on new business deep tech project incubation between MWCapital’s The Collider’s director Oscar Sala and Virginia Palacios, HP 3DP New Business Incubation Director.

During the event three aspects for successful large corporation deep tech investment were highlighted:

Connection with the origins of deep tech: science

Deep tech seeks solutions to global problems and originated within the scientific community, which is often disconnected from the corporate environment. Identifying impactful projects is a challenge for companies which are hence working on the creation of innovation hubs, sometimes in close collaboration with already established networks or entities, such as The Collider. The latter are able to identify projects relevant to the market’s needs and facilitate the knowledge transfer between the two worlds.

Market application, science that solves corporate challenges

Precisely this transfer is key for technologies generated in the scientific community to reach corporations, experts say. Proof of concept focused on time to market is essential for a technology to arouse the interest of innovation teams of large corporations. On many occasions, disruptive technologies are not able to allocate funding because they lack a market product or service application and are not ready to leave the scientific environment. Developing a technology when the market is ready for it, key to success.

The timings: 50% of value generation in the next 5 years will come from projects that still don’t exist

Innovation based on deep tech will be competitiveness and corporate growth main driver. Europe’s deep tech industry is valued at 700 billion euros. The appeal of investing in innovation is real, but deep tech technologies take time to mature. They are future-oriented and thus try to anticipate and discover the next great innovation. Deep tech investment should be based on short term goals  that show progress in the good direction. Agile testing and validating of projects progress and operation help accelerate its development, screening viable options that end up contributing to the return of the investment.

In this regard, Virginia Palacios, HP 3DP New Business Incubation Director, talked about the value in being in touch with science and industry pioneers for companies such as HP. She mentioned a project in conjunction with The Collider and in collaboration with a scientific team that resulted in the development of a cardiac surgery mannequin.

ABOUT MOBILE WORLD CAPITAL BARCELONA

Mobile World Capital Barcelona is an initiative that promotes the digital development of society and helps improve people’s lives globally. With public and private support, MWCapital focuses on four areas: accelerating innovation through digital entrepreneurship; the transformation of industry through digital technology; the growth of digital talent among new generations and professionals; and reflection on the impact of technology on our society. Together, our programmes positively transform the economy, education and society. MWCapital hosts MWC in Barcelona and is the founder of 4 Years From Now (4YFN), the business platform for the startup community present at all MWC events worldwide.

ABOUT THE COLLIDER

The Collider, the innovation area of Mobile World Capital Barcelona, closes the gap between science and market, accompanying, creating and scaling scientific startups. The Collider identifies and accompanies projects based on disruptive technologies (artificial intelligence, internet of things, blockchain or virtual reality) and focuses on the eHealth, CleanTech and AgroTech sectors. In recent years, the MWCapital Innovation Area has created 18 startups with a market value of 17 million euros, which generate almost 100 direct and indirect jobs. This success lies in the research-entrepreneurial formula of The Collider, which is based on the connection and alliances between agents of the national and international ecosystem, to positively impact the competitiveness and sustainable future of the territories. Its program of creation of new companies of high value is based on innovation, participation in committees, Corporate Venturing and availability to host the launch of pilots.