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Europe hopes to have an edge over the rest of the world for innovation based on fundamental research, with deep tech becoming a hot topic. Europe has great universities and talent. How can academic talent be used in a startup? Anna, let's dive in.
The European commissioner Mariya Gabriel talked about the new wave of deep tech innovation at the Tech.eu Summit. She was not the only one to mention this topic enthusiastically.
It wasn't a surprise that deep tech raises high hopes in Europe. We wrote about Europe's tech boom and investor interest earlier this year. I was interested in the role that educational institutions are expected to play.
VCs weigh in on Europe’s future in the critical deep tech market
There is no doubt that the future of innovation in Europe will emerge from its world-leading universities, according to a Tech.eu guest post. I had heard about Kanso earlier this month, but I had never heard of him. The U.K.-based nonprofit wants to turn PhD researchers into venture scientists.
Kanso said that it was a simple but well-proven recipe. They know that their innovation could help find treatments for diseases that are now incurable, power up carbon-negative cities or tackle the future of automation. Through a combination of entrepreneurship training, access to pro-bono legal advice, funding opportunities and expert connections, we help them figure out how to turn their research into a viable deep tech startup.
It isn't a new thing for universities to give birth to spinoffs or spinouts. MIT is famous for counting many entrepreneurs among its alumni, and quite a few of these ventures are based on intellectual property developed during their studies.
Intellectual property can be a problem in Europe. Kanso said that the potential for meaningful innovation is largely unexplored due to the varying nature of the research labs in Europe.
European universities and venture capital firms are trying to make sure the most promising seeds turn into successful companies.
Despite the hurdles, VCs know that spinouts are worth their attention.