Breaking through the barriers: Why deep tech needs a new playbook

Time and capital: the twin enemies of deep tech 

As Ishmael, founder of Molyon, a Cambridge University spin-out, put it plainly: “Time is the biggest barrier.” Deep tech ventures don’t scale overnight. Long development cycles, costly prototyping, and high technical uncertainty mean founders are betting on a distant future—and burning capital in the present to do so. Early-stage grant funding can help address technical risk, but as companies mature, there's a noticeable gap in scale-up financing, particularly in the UK. 

This is where many founders hit a wall. Venture capital often follows trends, and if a startup isn’t in the VC spotlight “theme,” funding dries up fast. As one panellist noted, “There’s a herd mentality in some parts of the funding ecosystem.” 

In conversation with: 

• Ana Avaliani, Director of Enterprise, Royal Academy of Engineering
• Dave Smith FIET FRAeS, National Technology Adviser, UK Government  
• Gerard Grech CBE, MD, Founders at the University of Cambridge
• Ismail Sami, Co-Founder & CEO – Molyon
• Pippy James, Chief Product Officer, ARIA

The infrastructure gap 

The UK isn’t lacking in research brilliance—London, Oxford, and Cambridge alone are global research powerhouses. But research brilliance doesn’t create successful companies. The missing piece is what Gerard from Founders at the University of Cambridge called “roads, bridges, and tunnels”. The invisible infrastructure that moves deep tech from lab to market. This means purpose built incubators with specialised lab spaces, accessible manufacturing capabilities and mentorship from those who have actually started and scaled deep tech companies. Without this connective tissue, even our most promising founders like Ishmael, find themselves looking overseas for critical resources - from equipment to skilled engineers. 

Policy: national vision, local impact 

Government policy has a critical role to play, but its success depends on consistency and coordination. As Dr Dave Smith, National technology adviser for the UK government, pointed out, many promising interventions collapse under short timelines. Deep tech needs long-term commitment, not just splashy announcements. 

Evaluating impact, too, is a long game. The effects of a new funding programme may not be visible for a decade. What matters is consistent policy, matched with smart evaluation, and an understanding that outcomes in deep tech compound over time. 

Finally, deep tech innovation shouldn't be confined to the so-called "golden triangle" of London, Oxford, and Cambridge. As the panel rightly stressed, talent and opportunity are spread across the UK—from aerospace hubs in the West Country to research powerhouses in Glasgow and the North. 

The path forward 

The UK is sitting on a deep tech goldmine—but unlocking its full value requires a systemic, patient approach. We must reimagine how we fund, support, and scale hard science innovation. That means building infrastructure, welcoming failure, nurturing talent, and ensuring that policy aligns with ambition. 

Most importantly, we need alignment between policy ambition and practical reality. That means building support systems for the long haul, celebrating the kind of failures that teach us how to success, and ensuring that talent and opportunities can flourish beyond tradition centres.  

The potential is undeniable- deep tech companies could reshape industries worth trillions of dollars while solving deepest and quirkiest challenges.  

The question isn’t whether deep tech can deliver transformative value. It’s whether we’re willing to create the conditions for it to succeed.