In “Dive into Deep Tech: Building the Next Generation of Engineering Startups”, host Andrew White is joined by the Director of Enterprise at the Royal Academy of Engineering, Ana Avaliani, to explore the inspiring innovation driving the engineering and deep tech ecosystem, and the key role which the Royal Academy of Engineering’s Enterprise Hub plays.
18 million grants awarded, 5,600 jobs created and up to $3.4 billion raised in investment: the Enterprise Hub is one of Europe’s leading accelerators and boasts the largest startup support network in the UK. Ana Avaliani delves into how the Enterprise Hub has evolved, from the substantial work in improving employment rates and government policy to its first unicorn, a quantum computing spinout acquired for $1 billion.
The achievement of this Enterprise Hub alumni reflects the prospering success of the UK deep tech ecosystem as a whole. In this rapidly evolving sector, the possibilities are endless, and Ana is keen to emphasise that engineering goes far beyond hi vis and hard hats. Drawing on her expertise, she shares her own predictions of the trends to look out for, as well as discussing the obstacles still present within the engineering industry and how the Royal Academy of Engineering strives to tackle them so the UK economy can flourish.
Watch the full episode below to uncover changing trends, specific sector insights and specialist guidance to succeeding in the industry.
You can listen to the episode on Spotify here.
Episode summary
Topics discussed🎙️
- The role and mission of the Enterprise Hub within the UK Engineering ecosystem, and how it originated and grew to the successful accelerator it is now.
- How the Enterprise Hub has evolved and enlarged its national reach, from the establishment of regional hubs and scale-up programmes to policy reports shaping the UK’s tech landscape.
- The deep tech landscape, including current trends, such as AI, quantum computing, and the intersection between biology and engineering, and how the landscape is evolving thanks to growing investor interest.
- Examples of how The Royal Academy of Engineering is dedicated to pushing founders and investors to success, such as their “Explore” programme, helping founders to reach foreign markets, as well as educating investors on the deep tech industry.
- The importance of diversity within engineering, discussing the need to increase the number of women-led startups, as well as raising awareness for engineering careers from a young age.
- Why IP is central to investment decisions and long-term success in industries with long R&D phases like deep tech.
Key takeaways💡
- The Enterprise Hub has become a national powerhouse: From humble beginnings in 2013, it now supports nearly 10% of all UK deep tech spinouts and has helped raise $3.4bn in investment.
- Deep tech takes time but delivers impact: Startups often need significant funding and long timelines but exits like Oxford Ionics’ show what is possible.
- AI and quantum remain at the forefront: Practical AI applications and quantum spinouts are a major focal point for growth and innovation.
- Global perspective matters: The Hub’s “Explore” missions expose founders to overseas ecosystems, partnerships and investors.
- Engineering is a very broad umbrella: There is a common misconception that engineering means hi vis and hard hats, and it is especially important to demystify the engineer for young people to encourage them to pursue it as a career.
- Diversity remains a challenge: Only ~7.8% of spinouts are women-led – an area where the Hub is pushing for systemic change.
- IP is non-negotiable: For deep tech founders, intellectual property is often their greatest asset and central to securing investment.
Notable quotes🔊
- “The Enterprise Hub was established back in 2013 with the sole purpose of supporting engineering and technology founders. The fellows of the Academy felt that, back then, there wasn’t a single place for, engineering and tech founders to go to for all of their start up and scale up needs.”
- “We are working with people who are looking to solve some of the quirkiest, some of the greatest problems of our lives.”
- “We’ve got an ambition to engineer better lives and we know that we need to work with others to deliver on that mission.”
- “We have hosted a number of people summits in different parts of the country, bringing together the general public, as well as founders, innovators and policymakers to talk about AI and the impact of this new technology on all of us.”
- “You don’t just have to build bridges and buildings, even though that’s super exciting. You can be a chemical engineer […] or a lighting engineer and work in the fashion industry. Engineering takes many different shapes and forms and it can be and should be appealing to youngsters.”
- “[Engineering] is such an important industry and has an impact on almost everything that we do daily.”
- “IP is one of the greatest assets deep tech founders have. […] Investors are interested in the uniqueness of the invention and the only way to protect that is through IP protection.”
