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Deeptech Labs joins forces with British Business Investment to deploy £10M to fuel the early stage deep tech Ecosystem in the UK

Press release 30 July 2024

Deeptech Labs, a specialist in catalysing cutting-edge early stage deep tech companies and building regional ecosystems, today announces a partnership with British Business Investments' Regional Angels Programme. This collaboration will fuel strategic investment into the most promising UK deep tech startups, with a focus on commercialising breakthrough science for economic growth and social impact. The funding of £10m will be allocated to invest alongside Deeptech Labs’ existing and growing portfolio.

Deeptech Labs provides a unique blend of intensive high quality accelerator programmes and early-stage funding to help commercialise the UK’s world leading deep tech research. This pairing of financial backing with access to over 500 world-class deep tech experts, including ex-founders, technical and functional experts, and over 280 active corporate and venture investors focuses on turning breakthrough scientific discoveries into category defining companies at global scale. Deeptech Labs has brought 38 companies through eight accelerator programmes to date and is seeing many of these organisations emerging as leaders in their category.

British Business Investments, a wholly-owned commercial subsidiary of the British Business Bank, aims to improve access to alternative finance for smaller businesses across the whole of the UK, while supporting the UK’s transition to a net zero economy. Since it was established in 2014, British Business Investments has committed more than £3.8 billion to providers of finance to UK smaller businesses.

Deeptech Labs runs an open programme for companies across the UK and also strategically partners with regional ecosystems, such as universities and commercialisation organisations, to replicate its powerful model across the country, creating a national network of deep tech innovation hubs.

Deeptech Labs’ commitment to fostering UK deep tech excellence is evident in its rapidly growing portfolio, which will expand by 20 companies this year for a total of 48 dynamic ventures. Previous programme participants include notable companies such as Salience Labs, Xapien, Nu Quantum, and Monumo, demonstrating the transformative impact of Deeptech Labs’ acceleration programmes.

Our collaboration with British Business Investments underscores our shared commitment to fostering a thriving ecosystem for deep tech innovation in the UK. Together, we're empowering entrepreneurs to translate ground-breaking scientific discoveries, where the UK leads the world, into tangible solutions that address real-world challenges, driving both economic growth and societal progress. Miles Kirby Founder and CEO, Deeptech Labs
Deeptech Labs is more than just an investor; we're a catalyst for transformation. Through our holistic approach of combining capital with tailored acceleration programs and access to top-tier expertise, we're empowering the next generation of deep tech pioneers to unlock their full potential and redefine what's possible in science-driven entrepreneurship. David Groom Partner, Deeptech Labs
We are excited to partner with Deeptech Labs as they back promising UK deep tech startups with a focus on commercialising breakthrough science for economic growth and social impact. This commitment highlights the Regional Angels Programme’s objectives of developing the early stage funding ecosystem across the UK Nations and Regions, bringing together finance, business experience and skills to support the development of high-growth smaller businesses. Adam Kelly Managing Director at British Business Investments

Further Information

Notes to editors

About Deeptech Labs

Deeptech Labs is an Accelerator, VC fund and the catalyst for deep tech success. Deeptech Labs has brought 39 companies in 8 cohorts through their programmes with a network of over 500 world leading deep tech experts helping the companies to refine and optimise their strategy and go to market model. The programmes each include a demo day and in June over 770 attendees signed up to attend the company demo days including 240 investing entities. Deeptech Labs was founded in partnership with Arm, Cambridge Innovation Capital and the University of Cambridge.

For more information, please visit dtl.vc

About British Business Investments

British Business Investments Limited is a wholly owned commercial subsidiary of British Business Bank plc, the UK government’s economic development bank. British Business Investments aims to earn a commercial return by investing – through finance providers – in smaller businesses and small mid-caps, pursuing investments on a fully commercial basis without receiving any economic advantage from the government. Find out more at  bbinv.co.uk.

The Bank and its subsidiary entities are not banking institutions and do not operate as such. They are not authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA). A complete legal structure chart for British Business Bank plc and its subsidiaries can be found on the British Business Bank plc website.

The transaction described above does not constitute or imply any endorsement, warranty or recommendation by the UK government, the British Business Bank plc or its subsidiaries or any other party in respect of Deeptech Labs or its products or services.

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