It has been a few months since deeptech has become a priority for the French government, having already invested 1.3 billion euros to fund and support such innovations. France appears to be on the right track to establish itself amongst the “deeptech powers”. According to a recent study, 61% of investors rank the Hexagon in the top destinations to invest in deeptech. And this trend should increase as there are more and more promising French deeptech startups, such as Bioserenity and CardioLogs. In addition, the ecosystem is getting more dense, with new players such as talent investor Entrepreneur First, which helped create 18 deep tech companies in France in 2019. This follows a global trend. According to the recent Global Startup Ecosystem Report, deeptech is the fastest-growing category globally in terms of early-stage funding deals over five years. There seems to be a convergence of different factors that allow us to presume this trend is here to last: a technological momentum, a decrease of barriers to entry to cutting-edge research, a soaring interest by investors, a political will of the developed countries and a strong entrepreneurial dynamic.
If governments and investment funds are increasingly betting on such technologies, it’s because they expect them to disrupt entire industries and create a lot of value in the next decade, like the Internet did in the 1990’s with the creation of Google, Microsoft and all the companies that shaped our current digital era.
Yet, when we think about unicorns, we rarely think about deeptech startups. Is that likely to change in the coming years? Can deeptech startups become unicorns and replace the Facebooks and Amazons of this world in our collective unconscious?