Story perspectives

Unlocking Wales: Boosting Deep Tech Innovation and Growth

2/7/2025

26 3

Summary

Story summary

The Royal Academy of Engineering's "State of UK Deep Tech 2024" report highlights the Cardiff Compound Semiconductor Cluster's potential.
Wales received only 1.9% of UK deep tech deals despite £5 billion in annual investments over the past decade.
A new deep tech incubator and research center could foster innovation and collaboration between academia and industry.
Policymakers should focus on high-growth start-ups to capitalize on Wales' strengths in compound semiconductors.
Immediate action is needed to enhance the economic impact of deep tech in Wales.

1 of 1

Story summary

The Royal Academy of Engineering's "State of UK Deep Tech 2024" report highlights the Cardiff Compound Semiconductor Cluster's potential.
Wales received only 1.9% of UK deep tech deals despite £5 billion in annual investments over the past decade.
A new deep tech incubator and research center could foster innovation and collaboration between academia and industry.
Policymakers should focus on high-growth start-ups to capitalize on Wales' strengths in compound semiconductors.
Immediate action is needed to enhance the economic impact of deep tech in Wales.