In the fast-paced world of tech startups, deep tech ventures stand apart. These companies, tackling complex scientific and engineering challenges, operate on a different timeline—often measured in decades rather than years. Mukund Karanjikar, CEO of CleanJoule, a sustainable aviation fuel producer, offers a candid look into the realities of deep tech entrepreneurship.
The Long-Term Commitment
“Start with sequestering 20 years of your life,” Karanjikar advises, cutting to the chase. “If you’re not prepared to do that, think twice… three times… four times.”
This stark advice underscores the commitment required in deep tech. While many startups aim for quick exits, deep tech entrepreneurs must embrace a longer horizon. “Even if you’re twice as smart as the rest of us, start with a decade in mind,” Karanjikar adds.
The Potential for Impact
Despite the challenges, the potential rewards in deep tech are significant. “You’re coming up with something that changes our society, uplifts our civilization,” Karanjikar explains. This potential for transformative impact drives many in the field, even in the face of uncertainty.
Rethinking Funding Strategies
Deep tech ventures often require a different approach to funding. “Skip the standard venture capital investment,” Karanjikar cautions. “They’re not going to be your friends in the journey to come.”
Instead, CleanJoule has pursued strategic partnerships. The company counts airlines not just as customers, but as investors—a testament to the importance of industry alignment in deep tech ventures.
Government Contracts as a Funding Source
For many deep tech startups, government contracts can be a crucial source of funding. CleanJoule, for instance, benefited from government support from 2009 to 2023. However, Karanjikar notes that securing these contracts requires persistence and patience.
The Reality of the Deep Tech Journey
Deep tech entrepreneurship is not for the faint of heart. It’s a path marked by setbacks and breakthroughs. Karanjikar’s advice for handling rejection? “Learn from it and hit back harder.”
This resilience is crucial given the extended timelines of deep tech innovation. As Karanjikar observes, “If you look at society-changing innovations, it has always taken longer than anybody had thought. But the impact has always been substantially larger than anyone ever dreamt of.”
The deep tech path is challenging, but for those willing to commit, the potential for significant impact makes it a compelling choice. As CleanJoule’s journey demonstrates, success in deep tech requires patience, strategic partnerships, and an unwavering commitment to long-term vision. It’s a field where, as Karanjikar puts it, “overnight success takes about 20 years”—but the results can change the world.
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