INPHO® Venture Summit
What’s next to invest in Deeptech
22-23 October 2026
INPHO Venture Summit is an invitation-only, investor-led forum dedicated to deeptech investment. It brings together private investors active in deeptech to share forward-looking analyses, confront investment theses and detect emerging co-investment opportunities across complex deeptech sectors.
From a biennal, INPHO Venture became a unique ecosystem to explore where the next waves of deeptech value creation are likely to emerge, at the intersection of technology trajectories, market realities and capital deployment strategies.
INPHO is part of Blumorpho’s Collective Intelligence Ecosystems approach.
Speakers World-known and forward-thinking
Why INPHO exists
INPHO Venture Summit was created in 2008, at a time when a large part of the investment community was shifting away from hardware and industrial deeptech towards shorter-cycle software investments.
Yet deeptech remains a powerful driver of long-term value creation and strategic differentiation. It offers strong opportunities for attractive IRR and multiples for investors who both understand complex technological and industrial dynamics and have the capacity to invest in capital-intensive, long-cycle innovation.
INPHO was designed as an exclusive forum, organised by and for deeptech investors, to step outside mainstream investment narratives and collectively explore:
What’s next to invest in deeptech?
Through collective reflection, INPHO enables investors to detect strong and weak signals across technology and value chains, confront theses with market and industrial realities, and anticipate inflection points in deeptech investment landscapes.
How INPHO works
INPHO Venture Summit is structured as a high-level, time-efficient investor forum:
- Invitation-only community
Participation is limited to private investors, corporate venture arms and selected LPs active or interested in deeptech. - Thematic investment focus
Each edition explores selected deeptech themes informed by technology, market and industrial dynamics. - Structured, closed-door discussions
Curated sessions enable in-depth exchange, confrontation of theses and early detection of emerging investment signals. - Startups as strategic inputs
Selected deeptech companies join a digital jury with one to one meetings with investors and are introduced as strategic inputs to investor reflection.
Who can participate
INPHO is dedicated to:
- Private investors and VC funds active in deeptech
- Corporate venture and strategic investment teams
- Selected LPs and institutional investors
- Selected start-ups with deeptech-related differentiation
Participation is by invitation or application.
Impact & recognition
- A unique international network of deeptech investors sharing forward-looking analyses
- Early identification of emerging investment themes and co-investment dynamics
- Increased interest from LPs in early-stage and hardware-oriented deeptech strategies
“INPHO Venture Summit is the best deeptech investment forum.”
INPHO Venture Summit is organised in collaboration with Alpha-RLH and CEA, with the support of Région Nouvelle-Aquitaine, Bordeaux Métropole and the CCI de Bordeaux.
Meetings organized
Jury members
Innovation in deep tech, 1 award
Industries & Investment Players
Countries represented
After two days of inspiring discussions and pitches at the INPHO Venture Summit,
we are pleased to announce the winner:
The INPHO® Venture Summit operated by BLUMORPHO is an exclusive convergence of elite investors and entrepreneurs.
This achievement reflects INPHO’s commitment to supporting transformative innovations that address critical global challenges. Transmutex’s win underscores the power of technology to redefine our energy future, aligning with the INPHO mission to bring the most impactful deeptech solutions into the spotlight.
Meetings organized
Jury members
Innovation in deep tech, 1 award
Industries & Investment Players
Countries represented
24 hours of open discussion and networking to address tomorrow’s challenges
Chaired for the fourth time by George Ugras, Managing Director of AV8 Ventures, INPHO relied on a robust editorial committee composed of 12 members active in private investment. The committee included Eric Benhamou, Founder of BGV; François Tison, General Partner at 360 Capital Partner; Eileen Tanghal, Founder and Managing Director at Black Opal Ventures; Christian Reitberger, Partner at Matterwave Ventures; Mathieu Costes, Partner at Airbus Ventures; Geraldine Andrieux, CEO at BLUMORPHO; Dieter Kraft, Managing Director at TRUMPF Venture; Jean-Gabriel Boinot-Tramoni, Principal at Quantonation; and Hind Beaujon, CSO at Pfeiffer Vacuum.
A unique venue to disconnect from the regular day-to-day but to connect for long term collaborations
This year witnessed an impressive response, with over 300 startups submitting applications to participate in INPHO. Following a meticulous selection process, we identified and extended invitations to 50 distinguished startups, inviting them to partake in meaningful digital interactions. The pinnacle of the event, the pitching sessions integral to the INPHO 2022 Start-up Award, featured presentations from a select group of 20 finalists.
It is noteworthy that all participants acknowledged the exceptional caliber of the startups featured at INPHO and their adept approach to addressing the key challenges deliberated in our comprehensive panel discussions. The formality and professionalism maintained throughout the event underscored its significance and success.
Space, Hydrogen, Deep Tech x Health, ...
Space represented a significant high-growth market opportunity addressed by Pangea Aerospace, characterized by disruptive rocket engines, environmentally friendly propulsion systems, and an appealing business model. The imperative for energy transition was evident, acknowledging the formidable challenge of replacing fossil fuels. Hydrogen emerged as a promising alternative, with EH Group Engineering presenting scalable stack hydrogen fuel cells for high-power applications.
Decarbonization and energy transition necessitated a reevaluation of energy consumption methods. In a world increasingly dominated by digitalization across industries, Nicolas Leterrier, CTO of Schneider Electric, highlighted the potential of edge computing to reduce power consumption. During the INPHO Venture® Summit, two companies, Innatera and UPMEM, showcased innovative solutions for minimizing energy consumption in data exploitation. Innatera specialized in ultra-low power intelligence for sensors, while UPMEM focused on next-generation data center computing architecture.
Another significant theme addressed was the imperative for increased automation and agile production to enhance European manufacturing competitiveness and concurrently reduce its carbon footprint. Robots emerged as compelling solutions, with LightCode Photonics presenting a smart, scalable, and cost-effective approach, providing 3D vision to robots for improved interaction with their environment and humans, enabling them to handle new tasks.
INPHO 2022 Start-up Award
The conclusion of the INPHO 2022 Start-up Award involved a closely contested decision, and after extensive deliberations, Xsensio emerged as the winner. This company presents a compelling opportunity to pave a new path in healthcare, intersecting the realms of DeepTech and Health. Through its innovative solution for the continuous monitoring of hormones and proteins, Xsensio offers promising prospects for the development of new treatments, enhanced prevention, and improved monitoring of at-risk populations. Xsensio distinguishes itself by combining the collection of medical data with a strong commitment to privacy and ownership, utilizing sensors that address environmental and usage constraints.
Following in the footsteps of past winners such as Effect Photonics, Prophesee, and Nvision, Xsensio is poised to leverage the INPHO ecosystem for growth and development. It is also true for all participants since as stated Heli Valtna CEO of LightCode Photonics, “INPHO is extremely efficient for networking and creating future cooperation”. “It was better than I’ve ever experienced and could anticipate” she added.
Executives joining from US, Europe and Asia
Keynotes and panelists
Investors
selected start-ups from Seed to Series C
is currently being raised by those start-ups
"The question is what industries will not be disrupted by deep tech and AI in the coming years?...the answer is none."
INPHO went beyond mere figures, conceived by investors to explore how deep tech can confront the significant challenges that lie ahead. The opening keynote by Geoffrey Moore, a globally recognized disruption expert and author, established the tone by outlining upcoming disruption waves and their respective drivers. As George Ugras, Chairman of the INPHO Venture Summit and AV8 General Manager and Founder, emphasized, “the question is what industries will not be disrupted by deep tech and AI in the coming years, and the answer is none.” Indeed, all industries are anticipated to be affected by the growing adoption of AI and a higher level of systems autonomy.
In this evolving landscape, data is poised to become the new oil, granting organizations significant power and responsibility. Mireille Helou, CEO of Orange Silicon Valley, highlighted the shift towards new distributive schemes concerning the value of data, emphasizing the dual aspects of power and responsibility associated with data ownership.
Deep tech shapes the new digital era of the COVID-19 world
The narrative presented by keynote speakers and panelists may convey a sense of enthusiasm for new technologies. However, this optimism is grounded in deep analysis and compelling reasons, as articulated by key executives at INPHO 2020. Amid the unprecedented pandemic situation, the health sector serves as a poignant illustration of the expected value that new technologies can bring.
In the words of George Ugras, “When you think about the level of randomness nowadays in health treatment, as illustrated in cancer but also in the COVID situation, AI and Machine Learning are expected to drastically improve healthcare efficiency.” This sentiment was echoed by François Cremieux, Deputy CEO of APHP, the largest hospital group in Europe, who emphasized the need for AI in hospitals, noting that “despite the interest, today in hospitals, AI only accounts for maybe 1% of activities.”
The ongoing COVID-19 crisis has accelerated the push towards digitization for enhanced decision-making processes across all industrial sectors. Simultaneously, it has heightened awareness of new social behaviors driven by the Millennial generation.
The INPHO 2020 Award was bestowed upon NVision
Hervé Floch, CEO of the French Photonics and Microwave cluster Alpha-RLH, and George Ugras, INPHO Chairman, were delighted to present the INPHO 2020 Award to NVision. NVision excels in enhancing the MRI signal of metabolites by a factor of 10,000, rendering them and their biological pathways visible in MRI scans. The groundbreaking technology developed by NVision enables molecular imaging with quantum-enhanced MRI agents, marking a significant advancement in precision medicine. This highly promising company is poised to catalyze transformative developments in the field.
NVision Team.
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Hard-talk: What keep you up at night?
With its editorial committee, including Georges Ugras, Managing Director at IBM Ventures; Jean-Marc Bally, Managing Partner at Aster Capital; Dieter Kraft, General Manager at Trumpf Venture; Jean-Louis Malinge, Partner at Arch Venture Partners; Paul Thurk, Managing Director at Arch Venture Partners; Christian Reitberger, Partner at BtoV and Wellington Partners; Aymerik Renard, General Partner at Hardware Club; and Kyung Yoon, Talent Age Associate’s CEO, the INPHO® Venture Summit 2018 offered participants a unique opportunity to engage with leading game changers, gaining insights into ‘what kept them up at night.
Explore our future and invent new business models
The INPHO® Venture Summit 2018 addressed innovations transforming industries and creating new business models. The Editorial Committee selected key topics, which were scrutinized by industry leaders and game changers. Pros and cons were deliberated in panel discussions moderated by private investors.
The summit explored the anticipated impact of blockchain in industrial applications, next-generation computing for the IoT and Artificial Intelligence revolution, and the deep tech influence on industry productivity through robotics, quantum technology, and monitoring hardware. These discussions, featuring C-level executives from leading companies, were dynamic, varied, and valuable.
INPHO® Venture Summit focused on tackling cross-cutting innovations for bankable challenges. Additionally, a specific session highlighted ‘Crazy Technologies,’ selected by the editorial committee as breakthrough innovations with high potential value.
Guests hand-picked decision-makers
Speakers World-known and open-minded
Countries from Europe, USA, China, Japan, Israel
Capital raised
A Summit designed to tackle challenges fostering solutions for major world issues.
The Inpho® Venture Summit, Photonics and Beyond, was a biennial financial and strategic business event held on October 6-7, 2016, in Bordeaux, France. The conference provided innovative SMEs with enhanced access to finance and focused on growth market investments. Bordeaux’s rich industrial expertise in photonics led to significant advancements in various sectors.
The two-day conference explored equity investment opportunities in hardware technologies, fostering the growth of digital innovation and connected devices across multiple industrial sectors.
George Ugras, managing director of IBM Venture Capital Group, will preside over the 5th edition of Inpho Venture Summit
“Photonics continues to evolve. Combined with other smart technologies, it has led to exciting innovations addressing bankable economic challenges,” said Inpho 2016 chairman George Ugras. “I am pleased to chair a new chapter in the Bordeaux region’s initiative to further private placement investment in photonics and other disruptive hardware technologies developed in Europe. Each edition draws increasingly higher profile industrial players and investors with a singular objective: to strike a deal. Inpho Venture Summit is an exciting place to be for high-level business networking in a unique setting where, over two days, everyone is accessible and very proactive.”
E-catalogue
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Succes stories…
INPHO® Venture Summit
If you have any questions or thoughts, feel free to reach out at any time at inpho-ventures@blumorpho.com
Eight success stories
showing how INPHO’s powerful network on their investment development
