The complexity of the technologies and the problems they address means that deep tech startups are intrinsically linked to universities and incubators.  

As well as London, Cambridge and Oxford, the South West region is emerging as a hub for deep tech investment. Named Silicon Gorge - after the Avon Gorge and Silicon Valley in California - this is home to numerous hi-tech & research companies, in the triangle of Bristol, Swindon & Gloucester.

Deeptech is a term given to an R&D intensive company, working with cutting edge technologies that aim to solve complex scientific and engineering problems. Prominent deeptech fields include: artificial intelligence, biotechnology, medtech, IoT, robotics, electronics, advanced materials and manufacturing, quantum computing and photonics.

Deep Tech Startup Incubators

Essential to the South West’s deep tech startup scene are the universities that feed it and the hubs and incubators that sustain it. 

For example, Science Creates (sciencecreates.co.uk) is a deep tech incubator, VC fund and network of entrepreneurs that nurtures science and engineering startups and is partnered with the University of Bristol.

Dr Harry Destecroix, founder of Science Creates, comments: “Boston might be the powerhouse for deep tech, but we believe Bristol will also become famous for being a world-class ecosystem that supports scientists and engineers in commercialising ground-breaking innovations. The city is home to creative, innovative trendsetters and it has world class research university and a strong sense of community. But we are only just getting started. Bristol continues to grow as a hub for helping scientists take their discoveries off the shelf and into the real world. Our strength lies in deep tech – an area that is growing more than twice as fast as any other tech sector.”

SETsquared (setsquared.co.uk) is another Bristol based startup accelerator and incubator. Run as a collaboration between the six leading research-led UK universities of Bath, Bristol, Cardiff, Exeter, Southampton and Surrey, it is ranked as the global No. 1 business incubator and has supported over 4,000 entrepreneurs. 

Rovco, XMOS, Space Forge, Ultraleap and RipJar are companies all founded by University of Bristol and Bath alumni. 

Mark Lippett, CEO at XMOS, comments on this trend: “The deep tech scene fuelled by the universities here has become a catalyst for business growth. There is a legacy of interesting and successful companies set up by alumni from local universities. This, among other things, means that people want to stick around the area after they have finished their degrees, resulting in a lot of talent retention and recycling.”

Investment

In the UK, deep tech investment has increased 33 times since 2011, topping $8.5bn in 2021 where megarounds of over $250mn contributed heavily to the total, according to data from TechNation.

For those with the expertise and patience required to exploit deeptech’s potential, companies in the sector offer attractive investment opportunities. As a result, we continue to see strong deeptech deal volumes, even as the economic outlook has become more challenging.

Richard Wheeler Associates works with technology-led companies in to recruit highly skilled, specialist people.

Contact us, browse our latest jobs or find out more about hiring for your deep tech roles with RWA.