This study seeks to review the topic of how deep tech innovation is raised in Sweden and more particularly, the finance-related constraints of this ecosystem. The study proceeds from the idea of mapping out the available, and subsequently more suitable financing alternatives for novel deep tech ventures. A more specific focus lies within understanding what factors are influencing investment decisions amongst such actors.  Thereon, there is an attempt to ground a theory revolving around what kind of features in the deep tech start-up, are critical in order to overcome the identified financial challenges. Theoretically, it is explained how the inherent uncertainty of new innovative ventures in general, and those of deep tech character in particular, entails additional financing constraints that deter investors. This results in an s.c "Valley of Death", normally transpiring as a firm aspires to transition from a research-driven development business to a market-driven commercial business. The findings in this study can be considered to confirm this phenomenon as transpiring in Sweden, whereupon it is also seen as a reasonable opinion that the respective problem can be maneuvered. The main arguments in terms of success factors in this respect is; (i) the ability to match with investors with a solid understanding of the particular industry of operations, as wells as for deep tech in general, (ii) the ability to acquire a diverse team with solid industry experience and contacts, (iii) the ability to demonstrate market proximity, (iv) the ability to demonstrate a potential that can justify the intensified uncertainty, as well as a credible plan to reach it, (v) and abilities to argue positively for impacts in sustainable aspects. Furthermore, a few suggestions for further research in relation to the topic and problematization have been identified; alternative choices for fiscal policies, deep tech opportunities in the shadow of s.c impact investing, eventual opportunities in addressing public markets, and eventual constraints in the external dichotomy between public and private sector financing.

Venture capital is associated with some of the most rapidly growing and influential technological companies. The strengths of the venture capital model have been effectively articulated by academics and policymakers. At the same time, venture capital financing became increasingly influential in the deep technology startup ecosystem, and there was a need to investigate the industry's growth impact of financing. Hence, this thesis focuses on the research area that is initiated by Industrifonden, an early-stage venture capital fund in Sweden. This study has chosen to investigate and answer the growth impact analysis in two key areas: timing (is timing of financing an independent factor for the growth of deep tech startups?) and sector based financing (Is Venture capital financing sector based?). The data comes from a cohort of startups (143 startups from 2010 to 2019) that are representative of deep-tech and non-deep-tech firms in Sweden, according to the Retriever Business Database in association with KTH Library. As the performance can be explained through the growth of the firms, the result shows that timing of funding has a statistically significant impact on the growth of the firm. The findings indicate a higher positive correlation between timing and startups’ growth, but sector based financing is statistically insignificant for deep tech startup growth. / Riskkapital är förknippat med några av de snabbast växande och inflytelserika tekniska företagen. Styrkorna i riskkapitalmodellen har effektivt formulerats av akademiker och beslutsfattare. Samtidigt blev riskkapitalfinansiering alltmer inflytelserik i det djupa teknikstart, och det fanns ett behov av att undersöka branschens tillväxtspåverkan av finansiering. Därför fokuserar denna avhandling på det forskningsområde som initierats av Industrifonden, en svensk riskkapitalfond. Denna studie har valt att undersöka och svara på analysen av tillväxtspåverkan inom två nyckelområden: timing (är tidpunkten för finansiering en oberoende faktor för tillväxten av djupa teknikstart?) Och branschfinansiering (är riskkapitalfinansiering branschbaserad?). Uppgifterna kommer från en grupp nystartade företag (143 startups från 2010 till 2019) som är representativa för djup teknologiska och icke-djup tekniska företag i Sverige, enligt affärsdatabasen Retriever i samarbete med KTH biblioteket. Eftersom resultatet kan förklaras genom företagens tillväxt visar resultatet att tidpunkten för finansiering har en statistiskt signifikant inverkan på företagets tillväxt. Resultaten indikerar en högre positiv korrelation mellan timing och startups tillväxt, men branschfinansiering är statistiskt obetydlig för djup teknisktillväxt.