Technology has always been a means to an end. A solution to a problem. Since ancient times engineers have used scientific knowledge to create useful technologies in construction, agriculture, transport and many sectors we know today. From concrete to batteries, these technologies have enabled us to become almost superhuman compared to past standards.
However in today’s information age, the word ‘technology’ has been largely used to describe a very specific kind of solution: namely ‘consumer’ and ‘enterprise’ software. These solutions have been solving various inefficiencies, including: inefficient business processes, inefficient marketplaces, inefficient(?) social interactions, inefficient transport, and inefficient entertainment for example. There is no doubt these solution have created enormous market value. But have they advanced humanity?
In this series I highlight ways we can redirect private capital into what Swati Chaturvedi, CEO of Propel(x) calls “deep” technologies (deeptech for short). These are breakthrough technologies in materials science, energy, and life sciences that have the potential to tackle our most “wicked” societal problems. By engaging 1) entrepreneurs, 2) investors, and 3) policymakers, we can mobilize private (and public) capital into ventures that advance humanity.
These self-reinforcing regional systems are what I call “Deeptech Confluences”. They engage our most powerful societal force of all — our global capitalist engine — to funnel ‘rivers’ of capital into solutions combating our most wicked problems. Each section highlights the role of each stakeholder in the Deeptech Confluence. I begin with the role of entrepreneurs in part 1.