Growing need to co-fund our deep tech future - and avoid the valley of death?

Ground-breaking technology and deep tech solutions are focus areas for Vinnova's* contribution to Sweden's upcoming research and innovation bill.

Peter Roos, CEO of Novatron Fusion Group AB was invited to a seminar arranged by Vinnova to provide a deep tech business perspective on policy issues and politics related to innovation, research, and sustainability.

The theme was "Breakthrough technology and deeptech for the transformation, competitiveness and security". The seminar was attended by representatives from academia and business.

The OECD Science, Technology and Innovation Outlook 2023, covers the need to strengthen technological strategic autonomy by restricting technology flows and reducing dependency vulnerabilities but also to enhance industrial performance through investments and extend and deepen international cooperation.

This is also highlighted in the European Commission's recommendation on critical technology areas for the EU's economic security for further risk assessment, with Member States in 2023.

Sweden has historically, successfully, offered an environment for innovations to develop into successful technology companies.

Now Sweden and the world are entering a new phase where the industries of the future are dominated by deep tech.

One of the key areas is energy technology.

- We are constantly taking part in breakthroughs but also new strategic partnerships between nations to make fusion energy commercially viable. Most recently between the UK and the US - the first international fusion collaboration for the UK. We also expect the US to announce a global nuclear fusion strategy at COP28, says Peter Roos.

This will naturally lead to new challenges for academia, business, and the public sector given national competitiveness and security. But also in terms of new investments needed to enable research to grow into a commercial business. Ultimately, they need to understand what deep tech companies need to stay and grow in Sweden (or elsewhere).

- The traditional market forces to build the big companies of the future are not enough. Especially not to drive the global transformation. New collaboration tools are needed to make it possible. The public sector must participate in, and support, new innovations and business ventures. We need long-term investments and commitments in infrastructure, and a vision for which areas Sweden should be outstanding in, says Peter Roos.

The meeting was broadcast live, but you can also watch the recording afterward and download PPP to find out more.

*Vinnova is Sweden's innovation agency. Their mission is to strengthen Sweden's innovative capacity and contribute to sustainable growth. Their work to ensure that Sweden is an innovative force in a sustainable world.