The Royal Academy of Engineering recently published a new report State of UK Deep Tech 2024, which provides a comprehensive analysis of the UK’s deep tech ecosystem. It also highlights investment trends, challenges, and opportunities in businesses leveraging scientific and engineering breakthroughs to solve complex global challenges.

One of the standout findings of the report is the immense potential within the Compound Semiconductor Cluster in Cardiff, which has emerged as a key driver of the UK’s deep tech ecosystem and is positioning Wales as a global leader in next-generation semiconductor technology.

As part of the broader UK deep tech landscape, the Cardiff cluster plays a crucial role in developing cutting-edge semiconductor solutions that power advancements in critical industries such as telecommunications, healthcare, energy, and automotive technology.

Despite these promising developments, the report reveals a significant under utilisation of the cluster’s potential. Wales accounted for just 1.9% of all UK deep tech deals over the last ten years, despite £5 billion being invested annually in deep tech ventures. This represents only ten investments, a figure that is strikingly low given the hundreds of millions of pounds in public funding that has been allocated to support the entrepreneurial potential of this cluster.

Part of the blame must be placed firmly at the door of the Cardiff Capital Region (CCR), which has not been slow in claiming credit for the development of the........

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