What's the value of a ridiculously audacious goal if you never reach it? Josh Western, CEO of Space Forge, argues the question misses the point - because the innovations accelerated along the journey often matter more than the destination itself.

Space Forge manufactures advanced semiconductor substrates in microgravity conditions, returns them via reusable satellites, then grows them terrestrially using a ‘sourdough starter’ approach. It's technically audacious, operationally complex, and solves a critical problem: producing higher-purity compound semiconductors for AI, EVs, 5G, and energy infrastructure without Earth's gravitational constraints.

Josh reveals why Space Forge could be five different startups (in-space manufacturing, reentry vehicles, heat shields, landing software, crystal growth), but integration creates the real multiplier. He explains the regulatory nightmare of manufacturing in international waters, why payload economics now matter more than launch costs, and how recruiting for passion beats technical pedigree when no one has ‘10 years experience making semiconductors in space.’

His North Star: making space manufacturing so ubiquitous and boring that people don't realise the chip in their kettle came from orbit. Until then, every innovation along the journey - from sovereign supply chain contributions to regulatory frameworks - creates substantial value independent of the ultimate goal.

Essential listening for Deep Tech founders navigating vertical integration, novel regulatory challenges, and the tension between moonshot ambitions and incremental

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Podcast Production: Beauxhaus

What happens when quantum computing startups can’t wait 15 years for fault tolerance?

Richard Murray, co-founder and CEO of Orca Computing, reveals how his team chose commercial usefulness over technical idealism - and why that decision drives everything from recruitment to product development.

Operating from a University of Oxford spinout with limited resources compared to Google or IBM, Orca faced a choice: follow the same path but years behind and millions of pounds short, or constrain themselves differently. They chose constraints. Starting with just £1.5 million forced creative decisions - building quantum computers with one light source instead of dozens - that ultimately benefited customers through more practical, deployable systems.

Richard describes the ‘two religions’ of quantum computing: those pursuing billion-pound fault-tolerant systems versus those focused on immediate commercial value. His team deliberately chose the latter, applying quantum to generative AI with measurable results: reduced GPU requirements, lower energy consumption, and potentially more creative AI models capable of generating results beyond training data.

The conversation explores operational realities most quantum companies avoid discussing: the talent gap when no industry exists to recruit from, the cultural shock when physicists encounter commercial constraints, and why ‘comfortable with ambiguity’ matters more than technical brilliance. Richard argues that customers don’t know what they want from quantum - and neither do most vendors - making the shift from vague promises to specific value propositions the defining challenge of the next phase.

His most provocative insight: Goldman Sachs apparently defines ‘quantum advantage’ not as an academic milestone but as when a company invests straight off their balance sheet because they can define the business return. That’s the real test.

Essential listening for Deep Tech founders, investors, and anyone navigating the trade-offs between breakthrough innovation and commercial survival.

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Learn more about Lab to Market Leadership: https://www.deeptechleaders.com

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Podcast Production: Beauxhaus

What if early-stage Deep Tech investing could be completely reimagined? Keong Chan, Managing Director of Out The Back Ventures, has spent five years building one of the most unique investment approaches in the industry - operating from Perth, Australia, whilst building relationships with leading universities and national laboratories across four continents.

Rather than waiting for deals to come to them, Out The Back Ventures proactively identifies breakthrough research and helps incorporate it into companies from the earliest stages. This conversation explores their syndicated investment model, the hidden innovation opportunities in nuclear technology, and why the future of computing will require fundamental shifts beyond silicon CMOS.

Keong reveals how naive questioning, startup-level energy, and genuine relationship building can unlock opportunities that traditional VCs miss, from Oak Ridge National Lab to Oxford University.

Essential listening for Deep Tech investors, university technology transfer officers, and anyone interested in how breakthrough research becomes world-changing companies.

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Learn more about Lab to Market Leadership: https://www.deeptechleaders.com

Follow us on LinkedIn: https://www.linkedin.com/company/deeptechleaders

Podcast Production: Beauxhaus