Locations
Singapore Global Centre
Deep Tech and Innovations
Overview
Deep tech refers to the cutting-edge and often disruptive technologies that are built on profound scientific discoveries, engineering innovations, or advancements in research areas that have the potential to radically transform industries, economies, and lives. Unlike other technological innovations that might be more incremental, deep tech often signifies a paradigm shift in how problems are solved. Almost anything used in today’s world had its roots in deep tech at a certain point: electricity, the telephone, the Internet, cars, planes, etc.
At their core, deep tech companies are propelled by intensive research and development (R&D), thriving within an ecosystem comprising public funding, private innovation, and academia research. Rather than isolating their focus on the technology itself, most deep tech ventures adopt a problem-centric approach. They consider pressing challenges and unmet needs in both business and the broader economy that these cutting-edge technologies have the potential to resolve.
Figure 1: Examples of Today’s Key Deep Tech Domains
How Deep Tech Can Help
As we steer towards a sustainable future, deep tech emerges as a game-changer in addressing global challenges – from climate change and resource scarcity to financial inclusion. Research suggests that 97% of deep tech ventures contribute to at least one or more of the SDGs. The impact of deep tech can be brought about by both innovators and adopters. Combining the use of advanced technologies with problem-driven approaches, solutions developed by deep tech innovators tend to bring about genuine and tangible impacts while unearthing untapped markets. The exploration of uncharted territories can also encourage engagement with local communities, laying the foundations for community-driven growth. At the same time, by applying the latest technology and knowledge, deep tech innovators can come up with solutions that are not only pioneering but also potentially transformative for traditional sectors. Meanwhile, deep tech adopters multiply the impact of a solution and catalyses further tech-driven advancements.
Figure 2: What Is Deep Tech and How Can It Help?