5 ways to Build and Scale Teams, Build Great Businesses that solve the World’s Most Pressing Problems and Position Australia as a Global Leader in Deep Tech Innovation.

You can have the best technology in the world, but without the right team, and people with the right skills, experience, and mindset — it’s almost impossible to build a world-class deep tech company.

So, how do we build and scale teams? Build great businesses that solve the world’s biggest challenges? And position Australia as a global leader in deep tech innovation? 

Cicada Innovations and Techvisa hosted ‘Scaling Deep Tech Teams to Drive Australia's Innovation Future’, featuring a panel discussion surrounding the challenges and strategies for building and scaling deep tech teams in Australia. The future of deep tech depends not just on innovation, but on overcoming the sector’s key challenges. 

Australia’s deep tech industry is facing a shortage of locally available skills and the complexities of attracting international talent. With the government’s $22.7 billion investment in renewable energy, advanced manufacturing, and strengthening the skills pipeline, the moment to tackle these gaps and scale world-class talent is now.

Our panel featured experts Tim Atkins, Chief Operating Officer of Osara Health, Sam Bricknell, Co-Founder & CEO of Techvisa and Sorcha Joyce, Head of Client Services at Solve by Talent, who shared their insights, journeys, and strategies for identifying top talent, upskilling locally, and attracting the best global talent to meet the sector’s demands.

Read on as they share their 5 key takeaways for what it takes to build and scale deep tech teams that drive Australia’s innovation future—not just great Australian companies, but ones that can make a global impact. 

Why is it important to strategically and sustainably hire?

For founders, every hire is a critical decision that shapes the trajectory of their startup. The broader landscape—fluctuations in funding availability, shifts in market conditions, evolving government policies, and changing access to talent—can all influence growth opportunities and hiring capacity. In an environment where uncertainty is a given, taking a thoughtful and sustainable approach to hiring can help build resilience. To navigate this:

• Prioritise quality over quantity. Invest time in finding the right talent that compliments your existing team and fills critical skill gaps.
• Hire for aptitude and transferable skills, especially in non-technical roles, and provide opportunities for upskilling and development.
• Focus on building a profitable business that can manage finances effectively, especially during economic downturns.
• Avoid over-hiring during periods of rapid growth. Focus on building a sustainable workforce that aligns with your long-term vision and financial resources.
  
  

How can startups leverage global talent pools? 

While Australia has a strong talent pool, accessing top talent in niche areas can be challenging. 

• Explore international markets to find experienced professionals who can bring valuable expertise and contribute to building the local ecosystem.
• Utilise networks, advisory boards, and partnerships to connect with international talent and navigate the complexities of global expansion.
• Sell the Australian lifestyle and the unique opportunities your company offers to attract global talent, such as financial considerations for setting up teams globally and relocation opportunities such as visas, sponsorship and the benefits of permanent residency. And if you need help, reach out to Techvisa for more information on this. 
  
  

Why should startups build a strong culture and onboarding experience?
A strong company culture is essential for attracting and retaining top talent, especially in a distributed workforce. Invest in:

• A positive onboarding experience throughout each stage of commencing a position within your startup sets new hires up for success and fosters a sense of belonging. 
• Clear communication, trust, and transparency prioritisation to maintain alignment and engagement across distributed teams.
• Critical processes and systems to support hiring, onboarding, and performance management throughout your company's scaling journey.
  
  

How should startups navigate compensation strategies?
To attract and retain top talent it is essential that startups have competitive compensation and equity packages. 

• Research the different compensation structures and market rates in Australia and overseas as it is crucial for attracting and keeping skilled employees. 
• Include a mix of salary, equity, and benefits in compensation packages, as it plays a vital role in building a motivated and sustainable workforce. 
• Be transparent about your compensation philosophy and ensure that your employees feel valued and rewarded for their contributions.

Why do we need to foster a thriving deep tech ecosystem?
To build a thriving deep tech talent ecosystem, we must support initiatives that foster innovation, education, and community. We all need to:

• Engage with universities and research institutions to foster a talent pipeline and connect with potential employees. Starting early with education fosters a culture of innovation and creativity in schools.
• Speak out in person or online. Having a voice at the table with the government can implement impactful change, especially when reciting recent successes in startups and the industry.
• Share your expertise, mentoring others, and participating in industry events to contribute to the growth of the deep tech ecosystem.

Takeaway for Job Seekers:
Our panel also recommended that job seekers wanting to break into the deep tech industry should:

• Develop transferable skills and highlight your adaptability and willingness to learn. Deep tech companies often value individuals who can contribute to multiple areas of the business and adapt to changing priorities.
• Network with professionals in the deep tech industry and attend events to learn about new opportunities and connect with potential employers.
• Showcase your passion for deep tech and your understanding of its potential impact on society.

By implementing these strategies and fostering a collaborative and supportive environment, we can build and scale successful deep tech teams in Australia and contribute to the growth of platforming great businesses that solve the world’s most pressing problems and position Australia as a global leader in deep tech innovation. 

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