‘Deep tech’: what is deep technology and why Brazil is in 2nd in Latin ranking

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Meet companies that have made scientific discoveries or created technological innovations considered truly disruptive. In Latin America, there are 340 ‘deep tech’ startups GETTY IMAGES It all started as a small startup in Costa Rica dedicated to innovating in the field of breast implants. But today, Establishment Labs is a company listed on the New York Stock Exchange Nasdaq with a market valuation of $1.8 billion. What is deepfake and how it is used to distort reality Using artificial intelligence, Chilean NotCo is replacing animal foods with plant-based alternatives, while Argentine company Bioceres is dedicated to revolutionizing the way food is grown. In the area of ​​space technology, the Argentine company Satellogic creates constellations of high-resolution and low-cost satellites to observe the Earth. What do these companies have in common? They made scientific discoveries or created technological innovations considered truly disruptive. Unlike other companies that develop smartphone apps or innovations for a product or business model, these startups do pure technological innovation, known as deep tech or deep technology. ‘Unprecedented’ Establishment Labs is the deep tech company with the highest market value in Latin America GETTY IMAGES “We are seeing an explosion of Big Tech innovation in Latin America”, says Ignacio Peña, author of the study Deep Tech: the new wave, from the IDB Lab. “It is unprecedented in its magnitude,” the researcher told BBC News Mundo, the BBC’s Spanish-language news service. “Technology allows you to do things that weren’t possible before, like diagnosing cancer with a drop of blood.” Biotechnology accounts for more than 60% of deep tech innovation in the region, followed by artificial intelligence at 11%. There are other emerging sectors with less development, such as nanotechnology, clean technologies, space technology, advanced mobility or robotics. Something interesting that has happened in recent years, explains Peña, is that the costs of some of these innovations have dropped, paving the way for them to spread. Apple and Microsoft are still the most valuable companies in the world Argentina The company Satellogic created low-cost, high-resolution satellite constellations GETTY IMAGES Most of the deep tech startups in the region are in Argentina, Brazil and Chile, countries that represent 80% of the Latin American total. By market value, the leadership is occupied by the same three countries plus Costa Rica. Argentina has the highest number of deep tech startups in the region (103 startups, 30% of the total, mostly in early stages of development). It was the birthplace of Auth0, a cybersecurity company sold in 2021 for US$ 6.5 billion, which reached the highest value in history among deep tech startups in the region. In the South American country, two out of three companies are dedicated to biotechnology, while the company Satellogic leads the emerging sector of space technology. One of the policies that has had a positive impact on the development of deep technology in the country is related to the 2017 Entrepreneurship Law and the large number of venture capital funds that have invested in start-ups. Brazil The deep tech startup sector in Latin America is valued at US$8 billion GETTY IMAGES With 101 emerging startups, Brazil ranks second in the developing deep tech region, almost on par with Argentina. Although the number is not so surprising in relation to the size of the country, Brazilian startups have achieved a high market value. In fact, 37 companies are worth more than $10 million and the biotechnology sector accounts for more than half of the companies. Brazil has great growth potential, considering that it concentrates almost 80% of researchers in the region, more than half of patents and 40% of total venture capital investments in Latin America. Chile Chilean deep tech startups accumulate the highest market value in the entire region GETTY IMAGES Chilean startups that develop deep technology accumulate the highest market value in the entire region, despite its economy being smaller than that of Brazil and Argentina . Together, the Chilean companies are valued at around US$2 billion, a quarter of the total value of these companies across the region. Chile has 3.4 startups per million inhabitants, a sign that the sector has achieved a good position at the regional level. NotCo, a company that uses artificial technology to develop its food, is the most successful in the country in the Deep Tech sector. Although more than half of the companies are in the biotech sector, artificial intelligence leads the country’s advanced technology in terms of value, mainly due to NotCo’s rapid growth. Costa Rica appears on the deep tech map due to the success of the most valuable startup in the region: Establishment Labs, which concentrates 97% of the sector’s market value in that country. What happens to Mexico and Colombia? Mexico and Colombia lag behind in this area relative to their neighbors in the region GETTY IMAGES Two of the region’s largest economies, Mexico and Colombia, lag behind in the development of deep tech startups, with one of the lowest concentrations of such companies in Latin America. It is surprising that Mexico, with a large manufacturing sector and venture capital, barely has 0.2 deep tech startups per million inhabitants. Like Mexico, Colombia also has only 0.2 startups per million inhabitants, with only nine companies dedicated to deep technology. In Latin America, estimates indicate that biotechnology will continue to lead the deep tech sector due to the region’s direct link with agriculture and food production, its biodiversity and a significant number of professionals dedicated to this field. And while there’s still a long way to go, “there’s a huge opportunity for growth,” says Marcelo Cabrol, head of Scalability, Knowledge and Impact at the IDB Lab. “This is not science fiction. Deep technology will improve the lives of the majority of the population.” READ ALSO: Old or defective cell phone? Take the test and find out if it’s time to change your device Brazil and Chile no longer have ‘roaming’ charges on mobile phone services What does the pair of Apple sneakers on sale for R What’s different about $236,000? What is live deepfake ‘Live deepfake’: technology that changes face and voice in video call already exists in real life – This text was posted in

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