Entrepreneurial Thought Leaders (ETL) Eric Volmar (Stanford University) - A New Entrepreneurship Playbook
Nov 24, 2025
In this engaging discussion, Eric Volmar, teaching lead at Stanford's Gordian Knot Center, shares his insights on the evolution of entrepreneurship. He highlights the transition from internet software to deep tech, emphasizing the need for new playbooks that address longer timelines and higher capital demands. Volmar explores the renewed government role in tech investment and the importance of blended capital models. He also encourages student innovators to adapt their strategies to navigate this complex landscape, merging technology with policy for national security.
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The Old Software Playbook Has Limits
- The internet and software VC playbook created a new profession of entrepreneurship over the last 30 years.
- That playbook no longer fits deep tech, which needs different timelines, capital, and institution engagement.
Deep Tech Demands Patient, Blended Capital
- Deep tech (AI, biotech, quantum, semiconductors, space) requires patient, blended capital and longer horizons.
- Traditional VC structures prefer faster returns and cannot usually fund these capital- and time-intensive ventures.
Government Is A Strategic Partner Again
- Governments are re-engaging in technology innovation as national power depends on leading frontier tech.
- That re-engagement makes government a partner acting as regulator, investor, and customer for many deep-tech ventures.