What was Deepetch?

Deeptech (deep technology) is the label we invented about ten years ago to describe startups that heavily invest in scientific research or hard engineering problems, build IP, and create a paradigm shift in the market through technology. If you're a typical corporation not trying to be fancy about it, you'd say R&D. To quote Wikipedia on these projects, "their primary risk is technical risk, while market risk is often significantly lower due to the clear potential value of the solution to society." This is pretty clear since most of these startups end up overpromising and underdelivering (when they deliver).

For many years deeptech felt safe for investors. After billions burnt away while failing to launch the next big consumer digital platform, going back to something tangible like hard technology made sense. It was also the comfort zone of most US universities and engineering schools like Standford, which, to be fair, have been quite successful at managing IP transfer from the lab to the market.