PRESS RELEASE

INPHO Venture Summit, A Premier Summit of Deeptech Venture Capitalists and Corporate Ventures

For its 9th edition, INPHO Venture Summit reinforced its position as a leading Summit where deeptech investors meet to challenge the question “what’s next to invest in deeptech” in the gorgeous city of Bordeaux with a unique welcoming at CCI Gironde in full of history Palais de la Bourse by Nouvelle Aquitaine Region.

Leading private investors, corporates and selected start-ups companies joining INPHO private event and atmosphere. From right to left: Timothy Ong, CEO at Invest Sarawak, Shariman Jamil, CEO at SMD Semiconductors, Eric Benhamou, Founder at BGV, Sean Redmond, Managing Partner at Silicon Catalyst.UK, Jérôme de Bontin, Partner at Capricorn Investment Group.

An Exclusive Gathering of deeptech investors.

INPHO Venture Summit is an exclusive gathering on invitation which contributes to its unique atmosphere for deep discussions on opportunities and challenges of deeptech investment. Very far from consensual discourse, participants share their own analysis under the drive of INPHO Venture Summit’s Chairman George Ugras Managing Partner AV8 Ventures and a prominent Board composed by Eric Benhamou Founder of BGV, François Tison Partner at 360 Capital, Mathieu Costes Partner at Airbus Ventures, Aymerik Renard, General Partner at HCVC, Gemma Garriga, Director of Applied AI at Google, Dieter Kraft, Managing Director at TRUMPF Venture, Christian Reitberger, Partner at Matterwave Ventures, Olivier Tonneau Founder and Partner at Quantonation, T.M. Ravi, MD & Co-Founder at The Hive, Nicolas Leterrier Semiconductor Sustainability Business leader Schneider Electric, Hind Beaujon CSO at Pfeiffer Vacuum, Gianluca Dettori, Chairman and Partner Primo Ventures and Geraldine Andrieux Gustin MD The Hive Climate AI.

Structuring the deeptech ecosystem: the expertise of Blumorpho and Alpha-RLH

Organized by the ALPHA-RLH cluster, BLUMORPHO – experts in DeepTech, impact innovation and financing – and the CEA (French Alternative Energies and Atomic Energy Commission), the INPHO Venture Summit brought together over 180 participants on October 24 and 25 for an intensive 24-hour program. The event featured eight thematic panels addressing the pros and cons of DeepTech investment for LPs, Climate Tech, and the most promising energy-related innovations to meet surging demand. Infrastructure challenges tied to GenAI, use cases for GenAI and Quantum technologies, and the upcoming wave of Tech-Bio innovations driving health advancements were also covered. The program included 18 pitches from selected companies, seven themed networking workshops, and intensive networking opportunities, including the renowned INPHO Venture Summit wine-tasting experience and a dinner cocktail in the historic setting of the Palais de la Bourse.

INPHO Venture Summit is designed by and for investors who gather every two years with a unique mindset, fostering the development of a strong deeptech investment community. Led by Géraldine Andrieux, President of Blumorpho and Managing Director of The Hive Climate AI, the event benefits from her deep understanding of participants’ investment focuses, expectations, and interests.

“Always great catching up with the INPHO veterans as well as making new friends in the venture and innovation ecosystem”

Aymerik Renard, General Partner at HCVC

The participants appreciated not only the variety of the topics but also the openness of the discussion.

“INPHO has evolved into a uniquely attractive event that draws a diverse array of entrepreneurs and investors, fostering truly stimulating discussions. Despite this strong diversity, it maintains a sharp focus on all aspects of DeepTech. There’s no other venue with this level of focus and such a distinctive audience – it’s an exceptional place to be. I believe it has become a major DeepTech gathering.”

Eric Benhamou, Founder of BGV

“One of the deepest deep tech events in Europe in the gorgeous city of Bordeaux!”.

Gianluca Dettori, Primo Ventures

“I’m very delighted that we’re doing the conference again in Bordeaux and I think what makes INPHO year after year a very interesting conference for deep tech investors is primarily the people that it’s able to attract. Specifically, it’s a unique combination of financial focused venture capital funds coming together with corporations and corporate funds along with founders of incredible startups across Europe. We’re also able to attract investors from the US like me over time, and that number has gone up. It’s a unique combination of capital, ideas, and operators that get together in Bordeaux every 2 years. This year has been phenomenal in terms of the attendance, and the quality of the startups. We had so many amazing companies apply to present, and the selection process was harder than any other year that I remember.

The main topics that have emerged with the board are both enablers of GenAI and these new large language models, from a deeptech perspective as well as the applications. And over the next couple of years, I can envision from a deep tech investment perspective that there will be application/investments that are enabled by GenAI applications across different topics such as the climate, healthcare biology, as well as cybersecurity and industrial applications. On the enabling side, definitely energy: these systems use a lot of energy, so things like nuclear energy are of great interest and quantum computing as well. These are going to enable GenAI to be more economical, more feasible, and more applicable around different applications. That will be a big theme over the next couple of years in deep tech investing.”

George Ugras, MD of AV8 Ventures, Chairman of the INPHO Venture Summit

From right to left: Mathieu Costes , Partner at Airbus Ventures, Michael Jobst Principal at Vsquared Ventures, François Tison, Partner at 360 Capital, Eric Benhamou Founder & General Partner at BGV, Christian Reitberger, Partner at Matterwave Ventures, George Ugras, Managing Partner at AV8 Ventures.

Investing in deeptech to address most pressing challenges

24 hours of insightful dialogues and networking to tackle tomorrow’s challenges

The INPHO Venture Summit 2024 kept its promises to focus on DeepTech investment to address most pressing challenges. Whether during the panel discussions on topics such as “What are the most exciting energy-related technologies to meet the exploding demand?” and Climate Tech, or in workshops focused on “Where to invest in the energy transition?” and “Ports and maritime to drive the blue economy” INPHO 2024 explored how rising energy demand, decarbonization, and innovation are shaping the future of global energy infrastructure and improving resource efficiency. Representatives from global industries such as Schneider Electric or Westinghouse, private investors in Climate Tech and innovative start-ups all agreed on the need for a multifaceted approach – one that integrates cutting-edge technologies, policy innovation, and strategic investments – to address current and future energy challenges, enhance resource management, and enable the shift towards sustainable growth.

Tackling Energy Challenges and Decarbonization with relevant investment

Shaping the future is exactly what DeepTech investors are committed to, which is why it’s always fascinating to explore the bold technologies they believe in to tackle the looming challenges ahead. This very topic was at the heart of the discussion at INPHO 2024 with two panels focusing on what will drive the future of Deeptech: What investments are you most excited about today? and What company would you launch today to present at INPHO 2026? Several investors expressed interest in biobased technologies, noting that nature’s power and efficiency can inspire highly transformative innovations. François Tison highlighted the potential of solar energy and how far we still must go in harnessing it efficiently. He reminded us that Earth receives an immense amount of energy from the Sun and that only a fraction of this energy, estimated to 0,5% is utilized by humans, mostly through solar panels and indirectly through wind, hydro, and bioenergy. More globally, investors were calling for transformative solutions to tackle climate change and resources scarcity, improve Cybersecurity and access to personalized health solutions.

TechBio and the Future of Health

Forging the path forward in better health prevention, advanced diagnostic solutions, and personalized medicine is indeed one of the positive impact we can expect from the next wave of innovation in health. This movement is driven by TechBio entrepreneurs such as Owkin, Resistell or Prostperia, pioneering at the intersection of life sciences, data, and AI. During a panel discussion, cutting-edge startups and visionary investors shared their expertise on what it takes to build a capital-efficient strategy that facilitates the adoption of innovative solutions to improve access to prevention, diagnostics, and therapies for all. The challenge of providing all populations in need with better access to the latest innovations in health was also at the core of the TechBio and Better Health workshop, which explored – with investors like Catherine Boule, Managing Partner at Karista, Ahmad Shahizam Mohd Shariff, General Partner at Mekar Capital as well as Klaus Kummermehr, Partner at SNGLR, how to build new alliances and new business models between public and private funding sources and develop a more systemic one health approach.

GenAI and Quantum Infrastructure: Challenges and Deeptech Opportunities

The panel discussion regarding AI and quantum infrastructures started by pointing out that according to the Gartner hype cycle, Gen AI is currently at the peak of inflated expectations and that there is no way to tell if the hype is growing, steady or slowing down. The panelist highlighted the main points of friction to a massive deployment of Gen AI and Quantum in the industry: the uncertainty on how to keep human in the loop, the cost of compute, its energy consumption, the availability of data and the lack of regulatory oversight. Some panelists also highlighted the ratio of the capital called versus the capital distribution pointing out that the time frame for revenue generation and Return on Investment is beyond the expectation of a VC. But discussion on what is needed to boost investment in quantum technologies in Europe was also addressed during a workshop operated by Naquidis, Nouvelle Aquitaine Innovation Center for disruptive quantum products and the European project Qu-Test/Qu-Pilot. Gathering innovative start-ups such as Kiutra Quobly, Equal1 or C12 and deeptech investors such as Airbus Venture, Quantonation, Vsquared or Deeptech XL and many others, the workshop highlighted the strength of the European ecosystem and the need to leverage on stronger private and public investment strategies to ensure European companies have the means their ambitions.

Semiconductors and Photonics: A Resurgence in Investment Appeal

INPHO Venture Summit 2024 also served as a reminder that semiconductors are once again a priority for VC investment, as highlighted by leading investors such as Guus Frericks, founder and managing partner of DeepTechXL, Bert Gyselinckx, partner at Imec.expand, and Sean Redmond, Managing Partner at Silicon Catalyst UK. A dedicated workshop on semiconductors and photonics was moderated by Régis Hamelin, CTO of Blumorpho, featuring insights from Isabel Obieta Vilallonga on EIC support and Shariman Jamil, who introduced SMD Semiconductor, a Malaysian company fostering strong international and European collaborations. As Régis Hamelin concluded the workshop from participants’ discussion:

“Semiconductors are becoming attractive to investors once again, with new materials and chiplets offering opportunities for innovation and investment, especially when they provide enhanced security and support circularity”.

Regis Hamelin, CTO of Blumorpho

The EARASHI workshop, supported by the European Commission, underscored Europe’s potential for strong leadership in the industry 5.0 transformation, emphasizing the critical role of European public investment in supporting highly disruptive, capital-intensive projects that enhance productivity and preserve European sovereignty. Startups also noted the challenges posed by long decision and adoption cycles in industrial settings, the persistent risks in cybersecurity, the importance of maintaining a strong focus on human-machine interactions and the uncertainty on what could/should become Open Source.

The 57 selected startups participating in the INPHO 2024 Award Ceremony

INPHO Venture Summit Start-up competition
and Award Innovation Award

A unique Space to empower entrepreneurs and encourage growth

The INPHO Venture Summit provides entrepreneurs with the opportunity to engage in valuable interactions with private investors and C-level managers of leading organizations. This year, after a highly competitive evaluation involving 300 applicants from US, Europe and Asia, 57 startups were shortlisted for the digital jury phase where more than 60 investors joined. The final decision on the startups pitching live at the event was challenging due to the high quality of innovation across all candidates, making the selection process difficult for the INPHO Venture board and jury members. Ultimately, the jury shortlisted 18 finalists who were invited to introduce themselves during the pitching sessions, part of the INPHO 2024 Start-up Award.

Among the companies selected to pitch live, GenF, a laser-based fusion company, was chosen in memory of Paul Thurk, who was deeply involved in the INPHO Venture Summit and a passionate supporter of ‘crazy tech’ to tackle our most pressing challenges.

As stated George Ugras, MD of AV8 Ventures and Chairman of INPHO Venture Summit, this edition of INPHO Venture Summit has reached a unique level of quality in discussions and interactions. Moreover, seeing all the founders on stage applauded by the VCs deeptech community was the highlight.

TRANSMUTEX, Awarded the Most Promising Company and the renew of nuclear

The finale of the INPHO 2024 Start-up Award came to a very close decision. After long discussions, TRANSMUTEX won the Award. This company’s transformative approach to nuclear waste treatment won investors’ suffrages and earned the confidence of industry professionals participating in INPHO. TRANSMUTEX’s work in converting nuclear waste into a sustainable energy source captures what INPHO is all about: backing impactful solutions that redefine our future.

“It is a true honor for Transmutex to receive the Inpho Summit Award 2024. This recognition is a strong encouragement for our team and our efforts in technological innovation in the nuclear sector. Inpho Summit was an enriching experience, giving us the chance to interact with investors specializing in deep tech, who shared their opinions on the sector and its developments. It was also an opportunity to discover numerous start-ups, which gave rise to stimulating and constructive discussions. We would like to express our gratitude to Blumorpho and the organizers of the Inpho Summit for the quality of this event, as well as to the jury for their trust. This award encourages us to continue to innovate in our field and contribute to a more responsible and secure energy future”.

Lydia Bertholet, TRANSMUTEX

As winners of the previous editions, such as Effect Photonics, Prophesee, Nvision or Xsensio, to name a few, TRANSMUTEX will benefit from the INPHO ecosystem to accelerate their growth. This advantage extends to all participants.

“The INPHO Venture Summit brings together global DeepTech investors who firmly believe that DeepTech will shape many industries of tomorrow, particularly healthcare. We were honored to win the Award for the Most Promising Startup at the last edition. It is an exceptional platform for building impactful investor connections.”

Esmeralda Megally, CEO of Xsensio

TRANSMUTEX won the INPHO 2024 Startup Award

The Strength of the European Ecosystem for Positive Impact acknowledged by Investors at global level

An illustration of the full potential of the European ecosystem in technology for positive impact

David Dana from the European Investment Fund, Chris Wade, co-founder of Isomer Capital, Jérôme de Bontin, partner at Capricorn Investment Group and Zhi Hong Low from EDB Singapore shared a strong message of support to the participants. Highlighting the fact that growing attractive ecosystems requires a significant amount of capital and that the last two years have been very difficult in venture capital for Deeptech, they all shared a very optimistic vision of the coming year and their confidence in European talents and technologies. David Dana acknowledged that raising capital has become more difficult, with the time required to close funding rounds extending to 2-3 years and the time to a successful exit increasing from 8 to 10 years. Zhi Hong Low confirmed that Singapore has also witnessed a 20% decrease in overall investment compared to the euphoric period of 2020–2022. However, investments in HealthTech, DeepTech and manufacturing have seen growth during this time. Chris Wade emphasized that raising capital has always been challenging—and rightly so. Building a successful company demands high standards, an extraordinary talent pool and the best in cutting-edge technologies, making it essential to keep that bar high.

“We are passionate about innovation and supporting entrepreneurs. Fundraising has always been challenging—and it should stay that way. Despite the recent slowdown, Europe remains very attractive, particularly for two reasons: the European innovation landscape has evolved significantly over the past decade, with a growing number of passionate researchers and entrepreneurs focused on creating solutions to global challenges; additionally, Europe’s technological advancements are truly unique.”

Chris Wade, Isomer Capital

LPs: the Pros and Cons of Investing in DeepTech.

From left to right: David Dana (EIF), Zhi Hong Low (EDB Singapore), Jérôme de Bontin (Capricorn Investment Group), Chris Wade (Isomer Capital), George Ugras (AV8 Ventures)

The uniqueness of the European Innovation Ecosystem for climate and blue economy

François Tison, partner at 360 Capital, emphasized that the European ecosystem has unique expertise in technologies essential for addressing climate change. This presents a rare opportunity for Europe to lead in the race for innovation — an advantage it has not always held.

“A highlight for me was seeing the Blue Economy represented for the first time, thanks to the participation of the Port of Bordeaux, as well as leading funds in that field and startups bringing crucial topics such as decarbonization, green fuels, and biodiversity restoration to the forefront. These essential actions require substantial investment to become a reality”.

Marine Hamelin, Blue economy activities leader at Blumorpho

INPHO Venture Summit as a Unique Platform for Partnerships and Co Investment

INPHO Venture Summit and its international recognition

This 9th edition of the INPHO Venture Summit welcomed a strong presence of international participants, including a delegation from Malaysia, to foster collaboration with the European landscape through The Hive Climate AI investment fund. Timothy Ong from Invest Sarawak introduced the region’s innovation and investment capacity, highlighting its unique natural resources and openness to international collaboration. The cluster approach, illustrated by the role of ALPHA-RLH in the Nouvelle-Aquitaine region, also generated significant interest in building strategic partnerships.

“The INPHO Venture Summit highlights the key role played by ALPHA-RLH, the leading innovation cluster in photonics and microwave technology, fostering a collaborative ecosystem in the Nouvelle-Aquitaine region, enabling and supporting international collaborations for its members. We are convinced of the strong synergies discussed with the delegation led by Timothy Ong from Invest Sarawak and look forward to building strategic partnerships.”

Hervé Floch, CEO of ALPHA-RLH

INPHO Venture Summit recognized for its leadership as deeptech investors gathering

INPHO Venture Summit’s international recognition relies also on its uniqueness.

“This was my first time attending INPHO, and I’m truly impressed. Having experienced deeptech events across the US and Asia, I found INPHO to be refreshingly personal, with straightforward exchanges and an exceptional lineup of startups. INPHO is truly a unique gem, from the architectural beauty of the venue to the high-quality content curated by Blumorpho as event curator and co-organizer with ALPHA-RLH.”

Khrisnavenee Krishnan, Global Partner at The Hive Climate AI

The participation of leading investors and Funds of Funds like David Dana from the European Investment Fund, Chris Wade from Isomer Capital, Jérome de Bontin from Capricorn Investment Group, a leading Climate fund established 20 years ago with USD 11 billion under management, the venue of Zhi Hong Low from EDB Singapore, Timothy Ong from Invest Sarawak, the high level participation of private investors from the US, Europe, Japan and Malaysia contributes to solidify INPHO Venture Summit’s reputation as a platform for deeptech investors to explore opportunities and build high value collaborations.

As stated by Catherine Boule (Karista), David Dana (EIF), and Chris Wade (Isomer Capital), the INPHO Venture Summit has become the premier gathering of deeptech investors from Europe, the US, and Asia. It has evolved into a major event highly regarded by prominent figures in the venture capital community.

The insightful discussions that took place at INPHO 2024 herald significant developments on the horizon, setting the stage for an even more stimulating and inspiring INPHO 2026.

The 9th Edition of the INPHO Venture Summit was organized by ALPHA-RLH, Photonics and Microwaves Competitiveness Cluster in Nouvelle-Aquitaine, BLUMORPHO – Expert in DeepTech and Impact Innovation – and the CEA Research Institute, with the support of the Nouvelle-Aquitaine Region, Bordeaux metropole as well as EARASHI, PHOTON HUB, Qu-Test/Qu-Pilot European projects and Naquidis, Innovation Center for disruptive quantum products.

Relive the Innovation of INPHO 2024

and Get Ready for 2026!

Contact

Olivia UGUEN
uguen@blumorpho.com
https://blumorpho.com