Deep tech

And so this matters to startups because it aligns economics around lifecycle costs instead of lowest cost.

Welcome back to Deep Tech Catalyst.

Today, we have with us Ginger Rothrock, Managing Director at HG Ventures.

Hi, Ginger.

project delivery and the

like.

Low margin are a very common story in deep tech, especially across several capital-intensive sectors.

So I will start, let's say, from there.

I have been a follower since a few years ago for the Millionaire University Podcast Show.

My question for Nick, I'm currently the founder of Deep Tech.

It's a way for cybersecurity to create threat vectors.

and what I'm currently now it's on the affliction point I'm getting like CTO meeting the accelerator intake all that stuff and so to follow the question what was the previous person before me I'm raising some money from friends family doing odd jobs as vulnerability research and also as pizza I do pizza too in the night so I think I'm interested to ask Nick about the licensing part.

Now, how much of this repricing reflects genuine defensibility versus national security enthusiasm? That is a question that is yet to be answered, but we are seeing more and more of these so-called sovereign plays taking place in venture.

And can a traditional 10-year fund support long procurement and manufacturing cycles without sacrificing DPI? This is a question I've been asking for the last one to two years as we've seen lots of generalist VCs move into deep tech and R&D intensive businesses.

Are they essentially pushing out that need for DPI because of the longer commercialization cycles and the longer route to exit that we typically see with these sorts of business? Not all hard tech is one category.

We have industrial services, we have simulation software, we have agent sandboxes that all differ substantially, space tech, reg tech, and various others included.

Even though we're seeing these valuations like Senkatsen's $2.1 billion, this is a reported valuation and it is not proof of profitability nor of investability.

And I have no doubt that we will build a hundred billion dollar physical AI company here in India.

hello and welcome back to a new episode of campus to capital today julius and i are very honored to host professor dr daniel cremas on the show today he's one of the world's most cited scholars in computer vision he's the chair of computer vision and artificial intelligence at the technical university of munich he's a leibniz prize laureate and a pioneer in commercializing spatial ai through deep tech powerhouses like artisans and sc3 labs without further ado welcome on the show daniel

Thank you, Konstantin.

It's a pleasure to be here.

As a small advertisement for ourselves, we actually just started publishing a new newsletter called Past Consensus with our strategic advisor, Maximilian Beikert, who's a professor at the Bocconi University in Milan, where we dissect our podcast episodes against the backdrop of academic research to analyze what has already been explored in the field and how things actually work under the hood so it's very nice that you share that perspective as well but maybe for listeners to understand here i mean you've authored foundational computer vision papers um but as you said you don't stay in these just inside of these pdf publications and you you spin out venture-backed companies as well so How do you actually decide if an academic theory is able to go into the real world and if it provides a value that can be actually built and not just be theorized on?

Yes.

So what is very important in academic startups, deep tech startups, is to not fall in love with your technology, right? That happens often.

People invent something and they're so mesmerized by their own invention that they then go ahead and try to commercialize that saying, I love my technology so much, everyone is going to buy it.

Two quick ones from me.

First one, you know, maybe a little loaded from the semantics, but bullish or bearish deep tech?

Oh, very bullish.

I mean, that's what KB does.

We've been doing this for 20 some odd years.

We love the more technically differentiated and sort of the more difficult but promising, the better.

And what do you I'm just quick follow up, like, what do you consider deep tech? And are there portions of that? Maybe you're not as excited about versus our

It's a great question.

We're calling 21 Minutes with Becca Brown.

And no surprise, we're titling it From High Heels to Hard Tech.

So I'm excited to get into your background, especially the high heels part.

And Off camera, we recently were just talking fashion too.

So the first thing to understand is that the pool of money that's available to you is massively smaller.

so that's a problem to begin with you're unlikely to get a big you're unlikely to get a big check and so for example so I mean I've got a relationship with a bunch of later stage funds and I've got a relationship with Bill Coren in Sequoia who's the sort of one of their deep tech guys and I pitched him a bunch of things and he's made the point to me Sir Pierce look it all comes out of the same pot.

So if I take this to an investment committee, I'm fighting against somebody who's got an enterprise SaaS venture.

Now, this is before enterprise SaaS kind of started to hit the skids a bit, but like he was essentially saying that, you know, it's very hard.