Congratulations you are one of the finalists of the 9th Deep Tech Award! What does the Deep Tech Award mean to you and what was the motivation behind your application?
Thank you! We are honored to have been recognized for our achievements in photonics and quantum technologies. The Deep Tech Award serves as further validation that we are on the right track to revolutionize indoor lighting. It motivates our team to continuously push boundaries and deliver high-quality lighting. As a company at the cross-section of photonics and quantum technologies, applying for this award was a no-brainer. Given Berlin’s strong photonics presence, winning this award would be a great honor for us.
Berlin is said to be one of the few German hubs for technological innovation. How do you experience the local tech infrastructure and how is it influenced by the Deep Tech Award?
Berlin has long been recognized as a startup hub, with a historical emphasis on sectors such as Software as a Service (SaaS) and logistics. However, I am delighted to observe a shift in focus towards hardtech and deeptech, fields that are now receiving the recognition they truly deserve.
The Deep Tech Award plays a significant role in this transformation. It not only acknowledges but also encourages advancements in these complex and impactful areas of technology. My hope is that, fueled by this recognition, Berlin will emerge as a global epicenter of technological innovation, akin to cities like Boston.
Moreover, I anticipate that Berlin will rise to rival traditionally hardware-oriented German cities such as Dresden and Munich. The Deep Tech Award is more than just a prize; it’s a catalyst for change, driving Berlin towards a future where it’s known for its contributions to hardtech and deeptech. This is an exciting time for Berlin’s tech infrastructure, and I look forward to witnessing its evolution.
Your category photonics and quantum technologies was opened for the first time in this year’s Deep Tech Award. Why do you think this is important for the photonics and quantum technology scene?
The inclusion of the category of photonics and quantum technologies in this year’s Deep Tech Award is a significant milestone. This is important for several reasons:
Firstly, it brings much-needed attention back to the photonics sector, which has a profound impact on our everyday lives, from well-being and medical diagnostics to AI/computation and security. Despite its importance, the spotlight has recently shifted away from this sector.
Secondly, this recognition will likely stimulate innovation and the creation of new companies in the field of photonics and quantum technologies. It positions Berlin alongside regions like the Netherlands, which have identified photonics as a key enabling technology and have dedicated substantial resources for its development through programs such as PhotonDelta and PhotonVentures.
Lastly, this recognition by the Berlin Senate underscores the importance of photonics and quantum technologies, and it aligns with the efforts of organizations like OptecBB to bring visibility to this sector. It’s an exciting time for photonics in Berlin, and this award is a promising step towards a future where Berlin is known for its contributions to these advanced fields.
Let’s shift the perspective and talk about you a little more. You applied with your LED technology. Please give us a little glimpse into your founding story and your key motivation to build this product.
My journey began in the semiconductor industry. After founding two companies and gaining valuable experience at a global semiconductor corporation, I felt a strong desire to create something with a more significant impact.
During this period, indoor farming, particularly vertical farming, was gaining traction as a viable alternative to traditional agriculture. However, there were challenges. The inability to grow high-value crops profitably was a significant issue, primarily due to the poor light quality and high energy requirements for lighting.
Drawing on my years of experience and leveraging my extensive network, I discovered technologies that could address these challenges. I was also fortunate to assemble a team of experts, each a specialist in their respective domains, ready to innovate and push the boundaries.
Our key motivation was to revolutionize indoor farming with our LED technology, making it not only feasible but also profitable to grow high-value crops. This drive to make a difference in indoor lighting has been the guiding force behind our product. It’s been an exciting journey so far, and we’re looking forward to what the future holds.
Why do you think Crocus Labs GmbH made the finalists list and why is it Deep Tech?
We have recognized as a finalist due to our innovative approach combining latest in photonics and quantum technologies to address significant challenges in lighting technology. We’re at the forefront of revolutionizing the indoor industry by making the cultivation of high-value crops not only feasible but also profitable. Our LED technology, developed from years of experience in the semiconductor industry, is designed to improve light quality and reduce energy needs for lighting. This technology is a perfect example of “Deep Tech” as it is based on substantial scientific advances and high tech engineering innovation. In addition we are expanding to massive markets such as general lighting and automotive lighting, enhancing aesthetics, safety, and comfort across various applications.
Deep Tech is characterized by its aim to solve big issues or create new possibilities, rather than simply improving existing services or products. At Crocus Labs GmbH, we align perfectly with this ethos. We’re not just about improving existing services or products, but revolutionizing indoor lighting technology. We’re contributing to solving some of the world’s biggest challenges – energy , light quality, CO2 emissions, which is what makes us Deep Tech. It’s an honor to be acknowledged in this way, and it motivates us to continue pushing the boundaries of what’s possible in our field.
What is the key technological innovation within your LED technologies and why does it advance the state of the art?
The key technological innovation within our LED technologies at Crocus Labs advances the state of the art in several ways:
Quantum LED Chips: We utilize quantum LED chips to overcome the limitations of today’s lighting technologies. These chips allow us to create lights with high color quality, especially those close to the sun spectrum. This addresses the issue of the ‘green-gap’ that is hard to fill using today’s technology.
Advanced Power Electronics: We use the latest in power electronics to create high-efficiency lights. This means even our lights with a perfect sun spectrum lighting and a Color Rendering Index (CRI) greater than 95% have high energy efficiency. This is a significant improvement over existing technologies, where such dynamic high-quality lights would end up at energy efficiency F.
Adaptive Dynamic Lighting: We use sensors to create adaptive dynamic lighting that can adjust to the time of the day. This not only reduces energy losses but also provides a more natural lighting environment. The data from these sensors can be used by third-party vendors to run their AI models or develop digital twins.
These innovations address the issues with outdated lighting technologies that provide a poor quality of light spectrum and rely on rare earth materials, which are mostly mined in China. Our technologies improve the quality of light, reduce harm to biodiversity, and enhance the quality of crops in indoor farms.
What was the biggest obstacle in your developing process? How did you overcome it?
The biggest obstacles in our development process were multifaceted, including German bureaucracy, talent acquisition, and financing. Navigating the complexities of German bureaucracy was a significant challenge and costs (audits, notary costs, language barriers etc). Finding and attracting the right talent was another hurdle, especially given the lack of employee stock option plans in Germany. The general lack of financing in Europe posed a considerable obstacle, but we were fortunate to secure funding through the EIC Accelerator Award ( < 6% of companies out of 1000 applied) and backing from financial investors like HTGF, Brandenburg Kapital, and BACB.
We managed these by careful budgeting, seeking cost-effective legal services, exploring alternative compensation strategies, and investing heavily in our hiring process. Despite these obstacles, our strategic planning, adaptability, and commitment to our vision enabled us to attract and retain the necessary talent, secure financing, and continue advancing our state-of-the-art LED technologies.
How do you assess the market potential for your LED technologies and Crocus Labs, and what strategies are you employing to capture market share?
Crocus Labs is well-positioned to tap into the growing market for LED technologies. The market potential is significant, with the smart lighting market growing at a CAGR of 22% and estimated to reach €35 billion. Despite a recent downturn in indoor farming, the markets for general lighting and automotive lighting are projected to grow to €35 billion and €40 billion respectively by 2030. LED suppliers alone are expected to capture €4 billion in both of these two markets.
To capture a significant share of this market, Crocus Labs is employing a multi-level engagement strategy. This includes partnerships with global chip manufacturers, lighting OEMs, and Tier 1 and Tier 2 players. By engaging with these entities, we can leverage their networks and resources to multiply its market reach and penetration.
In addition, Crocus Labs should continue to invest in R&D to maintain a competitive edge in the LED technology space. This involves developing more energy-efficient and cost-effective products, strengthening IP position as well as exploring new applications for LED technologies.
Finally, Crocus Labs in carrying out strategic marketing and sales initiatives to increase brand awareness and attracting new customers. This includes attending industry trade shows, launching targeted marketing campaigns, and offering promotional pricing or bundling deals to incentivize purchases.
By combining these strategies, Crocus Labs can maximize its market potential and capture a significant share of the growing LED technology market.
What role does ongoing research and development play in your project, and how are you leveraging academic or industrial partnerships?
Research and development (R&D) is the cornerstone of our work at Crocus Labs. As a fabless company, we focus on design and innovation, while manufacturing is outsourced. This approach allows us to improve our products continuously, adapt to market trends, and generate valuable intellectual property. Our R&D efforts are crucial in maintaining our competitive edge in the LED technology market.
Partnerships play a vital role in our operations. We collaborate with several academic and industrial partners, including the Fraunhofer Institutes and the Lukasewicz Institute in Poland through the PhotonHub project. These partnerships provide us with access to cutting-edge research, expert insights, and manufacturing resources. Additionally, they help us reach new markets and open up opportunities for funding. Through strategic investment in R&D and these partnerships, we aim to stay at the forefront of LED technology.
What are the main challenges you anticipate in scaling up and commercializing your technology, and how do you plan to address them?
Scaling up and commercializing our LED technology at Crocus Labs presents several challenges. As a fabless company, we need to ensure our manufacturing partners can meet our quality standards and production volumes. We also face the task of overcoming market resistance to new technologies, navigating complex regulatory landscapes, and staying ahead in a rapidly evolving industry. Our approach is to implement rigorous quality control, robust marketing strategies, stay updated with regulatory changes, and foster innovation through partnerships and R&D.
The LED market is highly competitive, and differentiation is key. We aim to stand out by developing unique, high-quality products and building strong customer relationships. As a nimble startup, we are well-positioned to address these challenges with agility and proactive strategies. Our goal is to successfully scale up and commercialize our LED technology, carving out a niche for ourselves in the LED market.
What do you wish for in our technological or digital future?
In our technological and digital future, we at Crocus Labs wish to see a world where the quality of light is recognized as a key component in enhancing the quality of life. We envision a future where our LED technology not only illuminates spaces but also contributes positively to our environment and biodiversity.
We are committed to initiatives like the Dark Sky movement, aiming to minimize light pollution with our lighting solutions. This way, we can ensure that the beauty of the night sky remains undisturbed, allowing future generations to gaze upon the stars.
Sustainability is at the heart of our vision. We aspire to create products from sustainable materials, thereby reducing our carbon footprint and contributing to environmental conservation.
Furthermore, we see our technology playing a pivotal role in revolutionizing food production. By utilizing our energy-efficient LED solutions in vertical farming and controlled-environment agriculture, we can enable access to high-quality food anywhere, anytime, without the large carbon footprint associated with traditional farming methods.
In essence, our wish for our technological future is to leverage technology to enhance lives, protect our environment, and contribute to a sustainable and equitable future. We are excited about the possibilities and are committed to turning this vision into reality.
What advice would you like to pass to young entrepreneurs and tech innovators who want to reach their goals and maybe also want to take part in the Deep Tech Award 2025? Since out of 100 applicants you made it into the finalists, we figure you have some real pro-tips here.
My advice to young entrepreneurs and tech innovators is to believe in your vision and embrace failure as a stepping stone towards success. Continuous learning is crucial in the ever-evolving tech world, and building a strong team that shares your passion is key. Networking can open doors to new opportunities and collaborations, and persistence is required as success doesn’t come overnight.
For those aiming for the Deep Tech Award 2025, focus on innovation and how your technology can bring about change. Presentation is crucial, so communicate your vision clearly and effectively. Understand the award’s criteria and tailor your application accordingly.
Reading widely helps to connect the dots and provides a broader perspective. Don’t be afraid to step out of your comfort zone, as it’s in the unfamiliar that we truly learn and grow. Lastly, hire the best people and empower them to excel in their roles. This not only contributes to the success of the organization but also fosters their professional and personal growth. Keep these thoughts as your guiding principles and continue to strive for excellence in your entrepreneurial journey. Good luck!
Thank you so much for all your fascinating insights! Deep Tech can not wait to host you at the Deep Tech Award 2024! See you on the 11th of July!
