On this episode of the Crazy Wisdom Podcast, host Stewart Alsop welcomes Swati Chaturvedi, CEO of Propel X, to explore the world of deep tech, frontier technology, and the forces shaping the future of human progress. Swati shares her decade-long journey in deep tech, reflecting on how the term evolved as a response to the "tech startup" boom, and discusses her focus on companies leveraging breakthroughs in science and engineering for humanity's advancement. The conversation touches on the role of government support, the power of hypothesis-free experimentation, and the critical importance of partnerships between startups and large corporations. They also discuss transformative technologies like AI, autonomous drones, bioinformatics, robotics, and the possibilities and perils of human augmentation. For more insights from Swati, visit Propel X at www.propelx.com or connect with her on LinkedIn, where she shares her thoughts on innovation, R&D, and the future of technology.

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Timestamps

00:00 Introduction to the Crazy Wisdom Podcast

00:16 Defining Deep Tech and Its Evolution

03:06 Challenges and Philosophical Insights in Deep Tech

07:07 AI's Role in Engineering and Bioinformatics

14:22 Future Shock and Human Augmentation

14:35 The Evolution of Science and Technology

22:58 The Future of Work and Social Dynamics

24:06 Exploring Sci-Fi Genres: Cyberpunk vs. Solarpunk

25:25 Exploring Solar Punk and Human Problems

26:01 The Promise and Limitations of Deep Tech

26:39 Economic Realities of Technological Advancements

27:16 Future Impact of Emerging Technologies

28:58 Challenges in Ag Tech and Environmental Concerns

29:30 Global Environmental Change and Human Activity

33:53 The Role of Modeling in Predicting Climate Impacts

36:22 Scientific Method and Industry Collaboration

39:23 Government's Role in Early Stage Research

42:34 Investment Strategies in Deep Tech

46:27 Consumer and Corporate Markets for New Technologies

49:12 Conclusion and Future Discussions

Key Insights

1. The Rise of Deep Tech as a Distinct Category: Swati Chaturvedi explains how the concept of "deep tech" emerged as a response to the overuse of the term "tech startup" during the heyday of consumer technology. Unlike simple software apps like photo-sharing or delivery platforms, deep tech focuses on companies leveraging scientific and engineering breakthroughs to solve fundamental human challenges. This includes innovations in fields like AI, robotics, life sciences, space technology, and advanced materials. Her 2014 blog post defining deep tech has since become a widely referenced resource in the field, signaling a shift in focus from digital consumer solutions to tangible, science-based advancements.
2. The Role of Hypothesis-Free Experimentation: Traditional scientific research follows a hypothesis-driven approach, where scientists predict outcomes before testing. Swati highlights the transformative potential of "hypothesis-free" experimentation, where AI and machine learning allow for large-scale experimentation without predefined assumptions. This approach mirrors the randomness of evolution, enabling faster discovery of unexpected results. Companies like Helix are applying this method in drug discovery, where AI-driven processes identify new therapeutic compounds. This shift could significantly accelerate R&D timelines and reduce costs in fields like pharmaceuticals and materials science.
3. The Power of Government Support in Early-Stage R&D: Swati emphasizes the essential role of government funding in de-risking early-stage research. Through programs like SBIR (Small Business Innovation Research) grants, government agencies like the NSF (National Science Foundation) and the Department of Defense (DoD) fund exploratory research at universities and small businesses. These grants act as the "seed fund of America," investing billions annually into high-risk, high-reward projects. Companies that receive these grants often have their private sector investments matched by government dollars, providing significant leverage for investors and entrepreneurs. This public-private funding model enables startups to bridge the "valley of death" between research and commercialization.
4. The Critical Role of Corporate-Startup Partnerships: Swati highlights the importance of partnerships between startups and established corporations, especially in deep tech. These joint development projects allow startups to access resources, validate their markets, and co-develop products with corporate customers. While some founders worry about protecting their intellectual property (IP), Swati believes that the benefits of corporate partnerships outweigh the risks. Corporate collaborations offer crucial early traction and revenue, helping startups de-risk their path to market. This is especially vital in sectors like healthcare, robotics, and clean energy, where the cost of developing and commercializing products is exceptionally high.
5. AI as a Force for Human Augmentation: The episode explores AI's role as an augmentative force rather than a replacement for human intelligence. Swati notes that AI is best understood as a tool that allows humans to multiply their cognitive abilities—processing vast amounts of information, identifying patterns, and making faster connections. This augmentation goes beyond software, extending into physical augmentation with devices like robots and smart tools that help humans accomplish physical tasks. While AI-driven tools like ChatGPT may lead to job displacement, Swati sees it as a natural progression, requiring humans to upskill and shift to higher-value tasks.
6. The Promise and Risks of Climate and Environmental Technologies: Swati identifies climate change and global environmental degradation as existential challenges that even the most advanced deep tech may struggle to address. Technologies like atmospheric water generation, carbon capture, and agtech are making strides, but she notes that they are not yet sufficient to solve global challenges like water scarcity, food security, and air pollution. Drawing from her personal experience with air pollution in India, Swati argues that we need to better price and internalize the "cost of the commons"—the shared environmental resources that are often depleted for private gain. Without a clear economic incentive to prevent environmental harm, she warns that climate issues will continue to escalate.
7. The Future of Space Tech and Human Exploration: Swati expresses optimism about the commercialization of space technology, noting its growing impact on daily life. Technologies like satellite internet (e.g., Starlink) are already improving connectivity in remote areas worldwide. The use of satellites for earth observation, weather tracking, and resource management is also becoming essential for sectors like agriculture and disaster response. Looking ahead, Swati is bullish on the potential for space colonization on the moon and Mars, although she acknowledges the immense technical and ethical challenges involved. While space tech once felt like science fiction, companies like SpaceX have made it tangible and real.