Creating a National DeepTech Capital Fund
Summary
The Biden-Harris Administration should establish a National DeepTech Capital Fund (NDTC Fund) to bridge capital gaps and enable more DeepTech entrepreneurs to bring promising and beneficial technologies to market.
Greater investment in DeepTech is critical in order to return the United States to the forefront of advanced science and technology research and development (R&D). “DeepTech” refers to companies and innovators building science-based, or R&D-based, products and services including hardware and advanced materials, robotics, manufacturing, and biotech. U.S. government investment in technology has declined by two-thirds in the past decades. Private capital typically eschews investment in advanced technologies, due to a combination of the additional expertise needed for and risks inherent to advanced-technology investment. Silicon Valley’s early days were cushioned by government risk capital at a time when the private sector could not see the value of investing in R&D. But relying entirely on Silicon Valley to drive investment in innovation has led the U.S. to a point where it risks being replaced by other innovation centers such as China. A National DeepTech Capital Fund would encourage and enable investment in companies building solutions to society’s greatest challenges, while ensuring that the United States remains at the center of global innovation.
As Congress considers broader packages to advance critical minerals production and supply chain resilience, science diplomacy vehicles must be part of that conversation, not as an afterthought, but as an intentional and foundational pillar of any strategy.
“Structured partnerships with our allies on critical minerals innovation can ensure that the best science and the best talent are working together towards shared security and economic prosperity.”
This is a bipartisan, commonsense measure to reauthorize the Technology Modernization Fund (TMF) before it expires in September 2026.
Many states are introducing AI policies and task forces, but lack the “AI-native” personnel to build and maintain initiatives. To address this in the short term, states should establish AI Resilience Cohorts to embed early-career technologists in key offices to support state AI initiatives. Right now, Virginia and New Jersey have the opportunity to take […]