Ignite VC: Navigating the Future of Deep Tech and Smart Cities with Mitchell Kominsky | #107
In the rapidly evolving world of technology, few areas are as transformative as deep tech and AI. These fields are reshaping industries and the way we live, from smart cities to autonomous vehicles. In a recent episode of the Ignite Podcast, Mitchell Kominsky, founder and general partner of Futureland Ventures, offered a deep dive into the trends, challenges, and opportunities in deep tech and its intersection with government policy and venture capital.
From Capitol Hill to Venture Capital: Mitchell’s Journey
Mitchell Kominsky’s career trajectory is far from ordinary. He began in the world of government policy as a congressional investigator, where he worked on national security and cybersecurity issues. He helped shape laws around emerging technologies, working closely with early tech companies like Palantir and other cybersecurity pioneers. This experience, combined with his natural entrepreneurial spirit, eventually led him to create Futureland Ventures, a venture capital firm focused on backing deep tech startups.
Kominsky’s background in policy gave him unique insights into how governments play a crucial role in fostering technological innovation. His career evolved as he founded a smart city startup and later worked in the Department of Transportation, leading initiatives on autonomous vehicles and connected infrastructure. This experience laid the groundwork for his current role in venture capital, where he now invests in startups that tackle complex problems in AI, robotics, energy storage, and transportation.
The Role of AI and Deep Tech in Smart Cities
One of the most exciting areas Mitchell focuses on is the intersection of AI, robotics, and smart cities. These cities are designed to use technology to improve everything from transportation and energy efficiency to sustainability and infrastructure management. He highlights a standout company in Futureland's portfolio, Intermotive, which is rethinking the freight rail industry. The company is developing autonomous electric railcars that modernize old, underutilized infrastructure while reducing emissions—a crucial innovation as cities seek to reduce their carbon footprint.
The conversation also underscores how interconnected industries have become. For instance, climate tech and energy storage are tightly linked with advancements in AI and compute power. By integrating AI into industries like transportation and energy, startups can solve large-scale problems more efficiently, using fewer resources and delivering faster results.
Government and Private Sector Collaboration: A Key to Deep Tech Success
A central theme in the conversation is the critical role of government funding and policy in the success of deep tech ventures. Unlike software startups, which can scale relatively quickly, deep tech companies often require long-term investment. Innovations in areas like autonomous vehicles, quantum computing, and energy storage can take 5 to 15 years to come to market. This is where government programs, such as grants from DARPA or the National Science Foundation, come in.
Mitchell points to successful examples, like Tesla, which benefited from government subsidies that helped it scale its electric vehicle technology. He also discusses how international governance bodies, like the International Seabed Authority, play a role in enabling new industries, such as sustainable deep-sea mining for rare earth minerals. These are critical for the tech supply chain, from batteries to semiconductors.
Mitchell also highlights the importance of SBIR grants (Small Business Innovation Research) and how they support early-stage startups working on high-risk, high-reward technologies. He emphasizes the need for more collaboration between Silicon Valley and Washington, D.C., as deep tech development often requires both private innovation and public funding to thrive.
The Future of AI and Deep Tech
Looking ahead, Mitchell is optimistic about the future of AI and its growing influence in industries like material science, healthcare, and energy storage. He believes that AI’s vertical integration into various sectors will unlock new opportunities, especially as more startups combine AI with scientific breakthroughs in deep tech.
One exciting trend he points out is the emergence of AI-first SaaS companies, which use AI at every level of their tech stack to deliver faster, more efficient software solutions. These companies are disrupting traditional software development, allowing startups to generate significant revenue with just a small team. As AI continues to eat software, it will create a new wave of innovation across industries.
Key Takeaways for Investors and Entrepreneurs
For those interested in the future of deep tech and venture capital, there are several key insights from Mitchell Kominsky's experience:
1. Technical founders are critical – Startups with founders who are both technically skilled and operationally capable are the ones that succeed in deep tech. These founders can not only develop breakthrough technologies but also meet deadlines and scale their businesses.
2. Long-term thinking is essential – Unlike consumer-focused startups, deep tech ventures take years to mature. They require patient capital and support from both government grants and private investors who understand the timeline for developing cutting-edge innovations.
3. Collaboration with government is key – Many deep tech companies rely on government funding to de-risk their innovations. Investors and founders should be aware of grants, subsidies, and regulatory frameworks that can help their startups succeed.
4. AI is evolving rapidly – While AI was once a subset of deep tech, it is now emerging as its own category. Startups that can integrate AI into their solutions, particularly in fields like transportation, energy, and robotics, will be at the forefront of the next tech revolution.
Conclusion
Mitchell Kominsky’s insights offer a fascinating look at the future of deep tech and AI. From his early days working in government policy to leading Futureland Ventures, his experience highlights the importance of long-term thinking, technical expertise, and collaboration with government to solve the world’s most pressing problems. For investors, entrepreneurs, and technologists, the intersection of AI, deep tech, and smart cities represents an exciting frontier of innovation with the potential to transform industries and improve the quality of life on a global scale.
If you're interested in learning more, tune in to the full podcast episode for deeper insights into the trends shaping the future of technology and venture capital.
👂🎧 Watch, listen, and follow on your favorite platform: https://tr.ee/S2ayrbx_fL
🙏 Join the conversation on your favorite social network: https://linktr.ee/theignitepodcast
Chapters:
· Introduction to Mitchell Kominsky & Futureland Ventures (00:01 – 00:44)
· Mitchell’s Background: From Government to Venture Capital (00:44 – 03:00)
· Exploring Smart Cities and Deep Tech (03:00 – 07:05)
· The ‘Aha’ Moment: Moving from Founder to Investor (07:05 – 12:01)
· The Value of Experience in Venture Capital (12:01 – 17:09)
· Investment Strategy and Due Diligence in Deep Tech (17:09 – 19:39)
· AI and Deep Tech Trends: Past and Future (19:39 – 25:06)
· Capital Efficiency in AI Startups (25:06 – 29:24)
· Government’s Role in Deep Tech Innovation (29:24 – 36:37)
· Rapid Fire: Favorite Startups, Technologies, and More (36:37 – 43:45)
· Final Thoughts and Advice for Entrepreneurs (43:45 – 45:54)
· Conclusion & How to Connect with Mitchell (45:54 – 46:13)