DeepTech
Science-led companies with granted patents, laboratory validation and a defined commercialisation path.
How We Read This Sector
DeepTech companies are built on scientific advantage and long development cycles. The public market can finance that profile, but it asks for evidence at every stage — and it penalises companies that describe laboratory results as commercial readiness.
What We Examine
Five areas that carry disproportionate weight in this sector.
Intellectual property
Granted patents rather than applications, ownership free of institutional claims, and freedom-to-operate analysis where relevant.
Validation evidence
Independent testing, pilot results and third-party verification of core technical claims.
Technology readiness
An honest placement on the readiness scale, and the specific work required to advance one level.
Capital requirement
Total funding to commercial revenue, with defined milestones attached to each tranche.
University arrangements
Licensing terms, royalty obligations, and any rights retained by the originating institution.
Where Companies in This Sector Get Caught
Intellectual property assigned informally — or still held by a founder, a university or a former employer — is the single most common blocking issue in DeepTech due diligence. It is also entirely fixable, provided it is identified early.
Sector Fit Is the Starting Point, Not the Test
Beyond sector-specific factors, every company is assessed against the same conditions: a verifiable asset, documented ownership, auditable financial reporting, management capable of operating a public company, and a budget to fund preparation.
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What we reviewBuilding a DeepTech Company?
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