Pivoting for Success: Lessons from Building a Deep Tech Company
Launching a technology company is rarely a straight line. ItS a journey of constant learning, adaptation, and, frequently enough, unexpected pivots. at UbiQD, we’ve learned this firsthand, navigating the challenges of bringing a novel materials science technology to market. Here’s what we’ve discovered about building a prosperous deep tech venture, lessons I wish I’d fully grasped earlier in the process.
Focus on pain, Not Just Potential
Early on, we were captivated by the idea of solar windows – glass that generates electricity. It was a compelling vision, but we quickly realized it was a “nice-to-have” rather than a “must-have.”
That’s where the real opportunities lie: in solving critical problems,providing essential solutions. we needed to focus on delivering a tangible benefit that customers needed, not just something that was technologically interesting.
From Solar Windows to Agricultural Innovation
In 2018, we made a strategic decision. We paused advancement on the solar-window concept and shifted our focus to a more immediate, high-impact application: greenhouse films that manipulate light spectrums to accelerate plant growth.
Growers are intensely focused on yield. Our technology directly addressed that core need.this pivot transformed UbiQD, establishing agricultural applications as a primary focus.
Don’t become overly attached to your initial idea. If your company is built on a foundational technology, embrace adaptability.The market will ultimately reveal where your innovation truly fits – and where it doesn’t.
Competition: A Sign of a Viable Opportunity
Many founders view competition with trepidation. I see it as validation. When we entered the agricultural technology space, we encountered other startups and established companies pursuing similar concepts.This wasn’t discouraging; it was reassuring. If no one else was tackling the problem,it likely indicated a lack of genuine market demand.
While maintaining a degree of discretion is wise, avoid operating in complete secrecy. Potential partners and customers need to know you exist to contribute, challenge, and accelerate your progress. Differentiation is key. Our advantage stems from strong intellectual property, deep technical expertise, and years of accumulated data. We’ve benefited immensely from external input, with many of our best customers discovering us organically.
Earn Your Expansion
Success in one market will inevitably tempt you to expand rapidly. Resist that urge. We’ve consistently declined promising opportunities until we’d “earned the right” to pursue them.
For instance, applying our materials to cosmetics or paints held potential, but it wasn’t economically viable until we achieved sufficient production scale and cost reductions. Now,with improved infrastructure and lower costs,these markets are being revisited. This decision was informed by thorough customer research and a clear understanding of their needs.
Build a solid foundation and generate revenue in your initial market before venturing into adjacent areas.
The Most Important Advice: Problem First, Solution Second
If I could offer one piece of advice to my younger self, it would be this: fall in love with the problem before falling in love with the solution.
As a tech founder, I initially focused on perfecting our technology and showcasing its scientific brilliance. However, building a company requires a deeper understanding of your customers and the economic realities of solving their challenges.
Science and engineering are crucial, but they’re only part of the equation. Customer finding, product management, and market research are equally vital – and you’ll likely need them sooner than you anticipate.
Get out of the lab. Engage with potential customers early and frequently enough. Be prepared to adapt based on their feedback. Ultimately, the value of your technology is defined by the problem it solves.
About UbiQD:
UbiQD is a New mexico-based advanced materials company focused on harnessing the power of quantum dots to improve plant growth and energy efficiency.We are committed to delivering innovative solutions that address real-world challenges in agriculture and beyond.
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