Zama's Jeremy Bradley advises on how to grow your business in deep technology.
Over the past few decades, technology has profoundly changed our lives, both personally and professionally. More recently, with the rise of AI and big data, the very definition of technology has evolved, and technology continues to expand to include new concepts that capture diverse and ever-changing situations.
Among these new concepts is deep technology, a term that refers to innovative companies dedicated to developing solutions to complex technological challenges. These companies focus on science, engineering, and research, prioritizing the creation of technology as intellectual property over mass commercialization.
Deep tech companies have the potential to innovate universally applicable technologies and are attracting forward-thinking investors who want to lead the next technology revolution.
Recent analysis shows that deep technology consistently attracts 20% of venture capital funding, with deep technology-focused funds generating returns of 26%. This investment interest highlights the importance of founders and executives effectively managing their companies and resources.
The value of deep tech companies lies in the knowledge and skills of their employees: researchers, engineers, analysts, and scientists working on their core technologies. Commercialization may take time, but with a number of initiatives, you can make the most of this technical knowledge and strengthen the business side.
Sharing is caring
Technological advances take time to emerge, but it's important for businesses to maintain communication with their audience, keep them updated on developments, and maintain interest.
An important way to share deep knowledge is through whitepapers. These documents combine knowledge sharing with detailed explanations and examples, and serve as effective marketing tools, presenting the product scientifically and technically rather than as self-promotion. These inform the public and target audience about the company's performance and highlight the talent and contributions within the company.
White papers are particularly suitable for large projects that require more emphasis on the theoretical side, and many applications and developments in technology can be introduced in a more dynamic way and present a more practical approach.
To make technology application and development more dynamic, practical demonstrations and tutorials can effectively explain how to use the technology in practice. These engaging formats featuring a variety of team members showcase your company's creativity and communication skills.
In deep technology, as in science, community engagement is essential for the continued evolution of technology. Engaging with the community through meetups and external speakers fosters openness and provides valuable feedback.
it takes a village
Going a step further, bounty programs can provide additional technical insight into the technologies your company is developing.
Traditional bounty programs are typically aimed at discovering vulnerabilities in new products and technologies before they reach the market. It's a good idea for a company to pursue this effort even if there's some risk in bringing its technology out into the world, such as the possibility that bugs won't be found or that someone will try to exploit access to the technology. There are advantages.
By submitting your technology to powerful external stress tests, you can demonstrate transparency and confidence in your product. Bounty programs are also a great way to find the right talent and discover new use cases. The program turns into a competitive grant and invites participants to explore the technology and apply it to their own ideas and projects, discovering new potential applications and business opportunities.
Although there are some variations, bounty programs still mostly operate within a prescribed framework. Hackathons offer a different approach, focusing on creativity at the product level. Here, we give the community access to technology, explore its potential, and encourage participants to test it collaboratively rather than competitively. Hackathons not only foster a spirit of interaction, they physically bring participants together over several days and are a learning opportunity for all involved. It also brings many benefits to your business.
Shining a spotlight on this technology, especially for outside hunters, is a way to explore its full potential, as well as legitimately explore its efficiency and usefulness. However, participants are also employees who are less involved in the technical side and can use this opportunity to learn about the company from a different perspective, such as marketing or business development.
When developing deep technology products, it is important to note that there is no one-size-fits-all approach. Far from being a limitation, the adaptability of the strategies described above is actually an added strength. You can customize it to fit your company culture and mission, adapt it to different products and audiences, and use it to grow your business and explore new markets.
Promoting these types of initiatives is an investment in your company's future. Create a dedicated platform and channel to maximize your strengths at lower costs, establish yourself as the leading expert voice in your industry, and unlock business opportunities.
Written by Jeremy Bradley
Jeremy Bradley is the City of Zama's Chief Operating Officer and oversees day-to-day operations. He is a cross-functional and highly tactical leader who has worked with numerous organizations to develop strategy, drive communications and partnerships, and lead policy and processes. He previously wrote about the value of encryption in the workplace for SiliconRepublic.com.
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