From Lab to Moonshot: Strategies for Building a Scalable Startup in Advanced Materials. A chat with Tony Sun, Director of Corporate Venture Capital at GC Ventures

Oct 11, 2024

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Host: Nicola Marchese Guest: Tony Sun

#DeepTechCatalyst

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KEY TAKEAWAYS:

1. Innovators can adopt a "Market Pull" approach, starting with a specific market need, or a "Technology Push" strategy, developing the technology first and finding applications later. Both pathways have unique challenges and require strategic alignment to ensure strong product-market fit.

2. To create a successful product-market fit, founders must focus on specific application needs and be prepared for a long journey. Out of many developed applications, only a few may succeed, making persistence and adaptability key to refining solutions for customer alignment.

3. In advanced materials, application spaces often consist of small, individual markets. By combining several applications, startups can expand their Total Addressable Market (TAM), which venture capitalists find attractive as it indicates a higher potential for growth and revenue.

4. Startups can benefit from developing near-term, high-margin applications to validate technology and become self-sustaining while also aiming for long-term “moonshot” applications. This dual approach supports immediate growth and prepares the company for industry-transforming, large-scale impact.

5. Navigating the complexities of the supply chain early on is essential, as positioning impacts development costs and customer reach. Continuous learning, whether through customer insights, industry events, or partnerships, ensures startups adapt to evolving trends and meet industry standards effectively.

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