Admittedly, it is the entrepreneur who takes innovation out of the academic world and markets it. This entrepreneur, or entrepreneurial team, often needs coaching and support. SOVAR provides support in technical, commercial and market intelligence, business strategy, go-to-market plans, operational management, search for financing, etc.
In 2019, SOVAR reviewed and implemented an enhanced structured program business coaching, which spans over three phases: ON YOUR MARKS! GET SET! GO! The program covers the initiation of the business project, the implementation of the business project and the acceleration.
Innovation stemming from cutting-edge research is at the heart of SOVAR's raison d'être, in particular what is now called deep technology.
To maximize the impact of our contribution in developing innovations, we rely on a rigorous process for the identification, assessment, selection, support and financing of projects.
Money is the name of the game at all times!
During the innovation development period, SOVAR supports the researchers-inventors in seeking funding from various government programs, foundations and private partners.
Crossing the Valley of Death
At a time when research produced conclusive results, but the technology is not yet fully ready for commercialization, startup projects are at high risk of collapsing into what is known as the "valley of death". At this stage, capital is scarce.
That is why SOVAR assists entrepreneurs in their search for financing, and maintains relationships with various institutional and private investors. In addition, SOVAR may invest its own funds in the startups that participate in its coaching programs.
About Deep Techs
According to reports from BCG (Boston Consulting Group) and Hello Tomorrow, deep techologies are:
"Disruptive solutions built around unique, protected or hard-to-reproduced technological or scientific advances. They will fuel the next industrial revolution. Deep-tech companies have a strong research base. They create value by development new solutions, not only by disrupting business models. Because they are advancing the technological frontier, they face unique challenges.”
From Tech to Deep Tech, Boston Consulting Group and Hello Tomorrow, 2016
The Dawn of the Deep Tech Ecosystem, Boston Consulting Group and Hello Tomorrow, March 2019
References used with permission of Boston Consulting Group and Hello Tomorrow
Three attributes that characterize the development and deployment of deep
- Deep technologies are novel and represent significant advances over technologies currently in use.
- Many of these technologies have the potential to address societal and environmental challenges in a unique way.
Long time to reach the market
- Deep technologies must often create their own markets and can disrupt existing industries.
- They are protected by strong intellectual property, which represents a valuable competitive advantage and a barrier to entry for other players.
- They require concerted R&D to develop practical business or consumer applications and bring them from the lab to the market.
- It is estimated that it takes 3 to 5 years to reach the market, depending on the type of technology.
Deep tech companies often represent an important economic risk, because they address markets that are yet to be created; they must invest over 1 M USD (equity and non-dilutive), depending on the type of technology, to build their first prototype, in addition to capital used to fund the fundamental and applied research phases.