In a newly-published research, the IDC Emerging Technologies team investigates the potential of DeepTech in Europe. IDC defines DeepTech as “a class of emerging technologies, built upon scientific and engineering innovation, whose primary focus is to address social challenges”.
In an era marked by rapid technological advancements, the emergence of DeepTech is poised to reshape industries and contribute significantly to the attainment of the United Nations Sustainable Development Goals (SDGs).
DeepTech ventures beyond conventional profitability, aiming to address complex global issues in areas such as healthcare, sustainability, transportation, and more.
These technologies are ready to make a profound social impact by aligning with the UN SDGs and pushing the boundaries of current technological developments.
According to IDC, DeepTech encompasses a diverse range of emerging technologies, including Advanced Intelligence (AI, human-machine interfaces and swarm intelligence), Next Generation Computing (quantum computing, and neuromorphic computing), and Human Augmentation (robotics, and XR technologies and devices).
These technologies, though still in their early stages, hold immense promise for revolutionizing industries and improving the quality of life globally.
Despite the challenges associated with their development and adoption, DeepTech solutions have garnered interest across various industries. From utilities to professional services, organisations are recognizing the transformative potential of these technologies in areas such as autonomous and electric vehicles, advanced battery technologies, next-generation agriculture, and carbon capture technologies.
European institutions, including the Commission and the European Investment Bank, alongside the United Nations, have emerged as key proponents of DeepTech initiatives. Through programs such as Horizon 2020 and DeepTech4Good, these entities demonstrate their commitment to supporting the development and deployment of DeepTech solutions.
In order to unlock the full potential of DeepTech, a robust ecosystem of investors, policymakers, and corporate organisations is essential. Initiatives such as the European Innovation Council Fund and various national funds play a crucial role in providing financial support to DeepTech startups, ensuring their growth and success.
“DeepTech represents a paradigm shift in technological innovation, emphasizing the importance of addressing societal challenges alongside commercial interests. By leveraging advanced scientific discoveries, these technologies have the potential to drive meaningful change and create new opportunities for economic growth,” says Lapo Fioretti, senior research analyst: emerging technologies and macroeconomics at IDC.