Scaling Readiness for Deep Tech Ventures: A Framework to Reduce the Risk of Failure

Purpose – This study is addressing the gap of academical and practical information about managing through the first stage a scaling journey as a deep tech venture (DTV). To provide this information, the research question “how can a deep tech venture achieve readiness for scale?” is investigated and answered. Method – An exploratory qualitative multiple case study was conducted of a total nine DTVs at different stages of their scaling journey. A total of 15 semi-structured interviews were conducted within these companies, which with the use of a thematic analysis were analyzed to generate a total of three different main themes. All respondents in the interviews were decision makers in the deep tech ventures and had all been an active participant in their scaling journey which enabled valuable information to be collected. Findings – The findings resulted in a total of 14 different actions that had an impact on achieving readiness for scale for DTVs. These actions can address the challenges deep tech venture experience in the pre-scaling stage and reduce the risk of failure. Implications – This study offers novel contributions to the literature on scaling by exploring underexamined areas, particularly the pre-scaling stage and the preparatory steps. While existing research focuses primarily on scaling challenges, this study provides new insights by including a practical framework that outlines milestones and actions to help DTVs prepare for scale. This practical framework will support DTV to achieve scale readiness, offering valuable insights for founders, investors, incubators, and accelerators to navigate challenges, allocate resources effectively to prepare for scale. These insights advance both academic understanding and practical tools, enabling DTVs to reduce the risk of failure. Limitations and Future Research – This study, based on data from Swedish DTVs, provides valuable insights into achieving scale readiness but might not fully apply to global contexts. The framework constructed is not practically tested and should in future research be evaluated to ensure its effects. Additionally, although this research focuses on the pre-scaling stage, the stages of scaling during and after remaining unexplored, leaving an opportunity for further studies to provide a complete understanding of scaling for DTVs. Validating and refining the framework and investigating the entire scaling journey will ensure a comprehensive approach to scaling readiness for DTVs.