Deep technologies, and the firms that create them, have become increasingly vital given today’s global challenges, new report asserts.
WASHINGTON (USA) – A new report was released last week entitled, “Deep Technology Entrepreneurship in the world and Turkey.” The report notes the steadily rising demand for deep technologies, especially in light of the global Covid-19 pandemic, and discusses recent developments in deeptech entrepreneurship, both in Turkey and around the world.
The report was published jointly by the Istanbul Development Agency, Teknopark Istanbul, and Cube Incubation, Turkey’s first and only incubation center devoted to the development and promotion of deep technologies.
“Our report provides significant insights into the limitless potential of deeptech entrepreneurship, both in Turkey and around the world,” Bilal Topçu, general manager of Teknopark Istanbul, says. “Considering the recent progress of deep technology globally, we believe this report will be looked at very closely by leaders and influencers in this burgeoning sector.”
Deeptech: A Lodestone for Global Investment
According to the report, global investment in deep technologies has exploded in recent years, rising by 20 percent from 2015 to 2018, when it reached a whopping $18 billion. The report goes on to note that 51 countries – and 1,305 cities around the world – have made substantial investments in deeptech initiatives.
The report also notes that the US and China collectively account for some 80 percent of all global investment in deep technologies.
Despite its rapidly growing importance, the term “deeptech” is relatively new. The report defines deep technology as “innovations that develop products driven by notable scientific leaps or engineering novelties.”
Istanbul: An Emerging Deeptech Hub
Although deeptech is currently dominated by the US and China, Istanbul is rapidly positioning itself as a hub for deeptech investment and entrepreneurship. Strategically positioned between Europe and Asia, the city offers numerous advantages for tech-inclined startups, entrepreneurs and investors. Turkey currently hosts 84 technoparks, the majority of which are located in or near Istanbul.
The report also notes that at least 60 deeptech startups have recently been established abroad by Turkish entrepreneurs, which have collectively garnered some $1.7 billion worth of investment.