Propel(x) curated a list of five startup-led tech trends in the 21st century that transformed industries. This list primarily looks at deep tech sectors, with many of the mentioned startups having grown into household names and multibillion-dollar companies today.
Deep tech refers to scientific or engineering innovations that completely disrupt existing industries through years of research, patent application, and other forms of intellectual property. Because of the time and investment needed to bring deep tech solutions to the market, many startups require significant and sustained capital to get up and running.
Startups raised $342.2 billion in venture capital in 2021 and $70.7 billion in the first quarter of 2022 alone, according to PitchBook’s Venture Monitor report. Deep tech startups appeal to investors looking for novel engineering solutions that can potentially snowball into new industries. Electric vehicles are changing the way automakers think about car design. Smartwatches are enabling people and their doctors to track their health and fitness. Virtual reality has moved beyond gaming and into the office. 3D printing is changing the manufacturing landscape, and reusable rockets are creating possibilities for business and leisure in outer space.