Bpifrance, Word of the week: Deep Tech
The Deep Tech movement
Every week, Bpifrance chooses a word to highlight – because it is in the air of time, because it deserves an explanation, and, even more, because it is relevant to your business. Today, we’re looking at “Deep Tech”.
This expression refers to “Deep Tech” startups that offer products or services based on disruptive innovations. Their ambition? To tackle the major challenges of the 21st century: a new technique to fight cancer or climate change, for example. And all fields are concerned.
Interest in Deep Tech is worldwide, and France can count on the excellence of its research to shine in this field.
OliKrom, the symbol of the Deep Tech trend in France
Born from the work of Jean-François Létard, former director of research at the CNRS, conducted within the Institute of Condensed Matter Chemistry in Bordeaux, OliKrom has developed pigments capable of changing color according to changes in their environment: change in temperature, pressure constraints, change in brightness, presence of a solvent or gas…
Applications? Identify an aircraft part that has been overheated or impacted, or imagine walls whose paint changes color depending on the time of day…
Inventor of “intelligent” coatings that change color according to temperature, pressure or light, OliKrom is an atypical start-up. Based near Bordeaux, it is an excellent symbol of the deep tech trend that is taking off in France and around the world.
In a study published last April, the Boston Consulting Group and the Hello Tomorrow organization indicate that the number of start-ups belonging to the new trend of deep tech is increasing very rapidly. By deep tech we mean truly disruptive innovations. Some 3,500 research-based start-ups were identified worldwide by the British fund Atomico in 2015, and the number of creations has increased fivefold each year since 2011 on both sides of the Atlantic.
Based in Pessac, near Bordeaux, OliKrom is one of these newcomers. Born of the work of Jean-François Létard, former director of research at the CNRS, conducted within the Institute of Condensed Matter Chemistry in Bordeaux, OliKrom has developed pigments capable of changing color according to changes in their environment: change of temperature, pressure constraints, change of brightness, presence of a solvent or gas … Highly resistant, programmable, they offer color changes, reversible or not, in a completely autonomous manner.
The applications are multiple: allow to identify at a glance a part of an aircraft that has been overheated or received an impact, imagine walls whose paint changes color depending on the time of day…
In other words, OliKrom is the antithesis of the single-product start-up that can easily be copied and is active in a single market. Two and a half years after its creation, it has already signed with 70 major partner groups in different sectors and has been profitable since its inception.
Start with a solid foundation
OliKrom designs and produces complete solutions (paints, inks, coatings, etc.) for its industrial customers, such as Safran and Airbus, tailored to their needs. The company has just announced a partnership with Eiffage to improve the visibility of road markings, particularly at night and in poor weather conditions, through the use of photo-luminescent pigments that capture daylight and car headlights.
Today, OliKrom generates 50% of its undisclosed sales internationally and has taken the time to develop its project with the help of a technology transfer unit and industrial partners whose needs are such that they are willing to co-finance development projects over 2 to 4 years.
This precise business model and solid initial customers have enabled the company to generate good value from the start. OliKrom is now looking to create a 2,000 m2 industrial site near Bordeaux to start mass producing its pigments. This 5 million euro project is based on the creation of industrial and R&D jobs that cannot be relocated, as is often the case with deep tech start-ups.