Startup partnerships can help corporations unlock deep tech innovation

DEEP tech – including breakthroughs in artificial intelligence (AI), synthetic biology, quantum computing and advanced materials – is shaping the future of industries, economies and everyday life. In 2023, the global deep tech market was valued at US$548 billion, and it is expected to grow to US$2.7 trillion by 2034, according to Future Market Insights.

These technologies are not just creating new products and services; they are driving transformations in key industries such as energy, healthcare, mobility and manufacturing. Governments are responding accordingly: the US Chips Act, Europe’s EIC Accelerator, and China’s sovereign AI programmes reflect a shared strategic priority – accelerating deep tech commercialisation.

For corporations, the implications are clear. Capturing the value of deep tech is no longer optional. It is crucial to develop long-term competitiveness. Yet despite growing urgency, many firms find that internal research and development (R&D) effort alone is not delivering at the speed or scale desired.