Success factors of deep tech incubators. A qualitative study

Abstract

Deep tech start-ups, characterized by their focus on groundbreaking technologies and scientific advancements, face unique challenges that demand specialized support systems for their development and market entry. This paper presents a qualitative analysis based on ten interviews with managers of deep tech incubators, exploring the services offered, critical success factors, challenges and anticipated future changes. The services provided by incubators are comprehensive, ranging from technical and business mentorship to assistance in regulatory processes and access to financial resources. The study identifies that the success of deep tech incubators depends on customized support for start-ups, access to expertise and facilities, and a strong ecosystem and community network. Customized support ensures that the unique needs of each start-up are met, while access to technical resources and a vibrant network facilitates innovation and growth. Challenges such as cultural and mindset differences, operational difficulties, and regulatory navigation underscore the complex landscape in which these incubators operate. Anticipated changes within the next few years include a shift in investment focus towards projects with significant societal impact, an increase in international collaboration, and a deeper recognition of deep tech's role in solving global challenges. This paper contributes to the understanding of deep tech incubation, highlighting the support required to foster innovation in this sector. The insights from this study can inform policymakers, investors, and managers of deep tech incubators on fostering a conducive environment for innovation and growth in the deep tech sector.