Deep Tech: The New Wave
DeepTech startups are companies based on a scientific discovery or meaningful engineering innovation. Deep Tech startups involve significant technological risk and R&D. However, Deep Tech innovation is critical to effectively address humanities grand challenges. DeepTech companies have the potential to catalyze change, establish new industries, and disrupt existing ones. Cutting-edge technologies like AI, solar power, electric vehicles, biotech, advanced manufacturing, and space-based broadband have the potential to pave new paths for economic growth, social equity, and environmental sustainability in the region. Today, with 340 ventured-back DeepTech startups, the DeepTech ecosystem in LAC is valued at USD 8 billion and has much potential to grow. The LAC region has strong advantages such as talent and R&D cost, to further develop and grow the DeepTech ecosystem in LAC. By fostering DeepTech in the region, LAC countries will benefit from the creation of jobs, as well as from potential access to improved basic products and services. Poor and vulnerable communities may greatly benefit from the adoption and creation of new technologies.