Deeptech Labs will be partnering with British Business Investments to funnel £10 million in funding to deep tech firms in the UK as part of the Regional Angels Programme. British Business Investments, a wholly-owned commercial subsidiary of the British Business Bank.
The mission is to commercialize innovative science for economic growth and social impact. The funding will be allocated to invest alongside Deeptech Labs’ existing and growing portfolio.
To date, Deeptech Labs reports that it has brought 38 companies through eight accelerator programs, stating that they are seeing many of these organizations emerge as leaders in their category.
Deeptech Labs partners with regional ecosystems, such as universities and commercialization organizations, to replicate its model across the country, creating a national network of deep tech innovation hubs.
Deeptech Labs says its portfolio will expand by 20 companies this year for a total of 48.
Miles Kirby, the founder and CEO of Deeptech Labs, said the collaboration highlights their shared commitment of supporting the Deep Tech innovation ecosystem 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. “
Adam Kelly, Managing Director of British Business Investments, said their commitment highlights the Regional Angels Programme’s objectives of developing the early-stage funding ecosystem across the UK.
