There is a vibrant ecosystem of investors interested in research, innovation, and emerging technologies. Some of this draws on government funding intended to promote development in strategic areas. Companies and private capital also invest in emerging technologies. 

In a previous post we discussed technology readiness levels and the process by which basic research makes the journey to becoming operational technology. For organisations seeking to invest in emerging technologies, the best outcome would be to identify an innovative technology at the earliest stage in that journey. 

This is not always an easy proposition however. Perhaps the greatest challenge is spotting the ideas that will successfully complete that journey from a promising concept to a workable technology. Identifying the cutting edge of research within multiple fields, knowing which researchers and projects to keep an eye on, and understanding the potential applications of advances in fundamental research are challenging endeavours.

At the same time, investors need to be aware of the risks in this space. Given the sums involved, it is unsurprising that people and organisations sometimes give a false impression of the state of their technology. Due diligence into start-ups and research projects can address some of these risks, but can be challenging without specialist knowledge.

Once a technology has been ‘spotted’ by an investor, it is likely that other actors will pay attention. Not all of these actors will play by the rules. They may use a range of methods to attempt to steal or undermine this research, ranging from espionage, through to insider threats, sabotage, or disinformation. We assess that organisations that invest in emerging technology will increasingly consider whether a start-up has a proportionate and holistic approach to research security when making investment decisions.