Evolution of Deep Tech: Mapping Startup Innovation Journeys

Deep technology startups are reshaping innovation landscapes by tackling complex societal challenges, yet the specific domains they target and their evolution patterns lack systematic investigation. This study aims to uncover the hidden topics that deep technology startups engage with. The SOSV accelerator portfolio was analyzed, applying topic modeling in two distinct analyses: first, to identify thematic areas across all startups, and second, to analyze hidden topics across pre-seed, seed, Series A+, growth, and exit stages. Five topics with which deep technology startups engage were identified: (1) Next-Generation Food and Agriculture Solutions, (2) Life Enhancement and Wellness Technologies, (3) Healthcare Technologies and Medical Innovation, (4) Platform-Based Technologies and Mobile Innovation, and (5) Robotics Innovation and Intelligent Systems. The stage-based analysis reveals evolutionary patterns in topics, from technology-focused in early stages to market-oriented themes at exit.