Cracking Hard Tech II: the team behind the tech
The hard tech playbook: evaluating the team
In hard tech, the team is arguably the most critical component of success. This, to be fair, is also true for tech. Hard tech startups require a blend of technical expertise, entrepreneurial adaptability, and market awareness. This framework aims to simplify the evaluation process while tailoring it to the challenges of hard tech.
KEY VARIABLES FOR EVALUATING THE TEAM
1. Technical expertise (credibility)
Why it matters: hard tech ventures are often built on groundbreaking technologies. A team lacking expertise in the relevant technical domains poses significant risks.
What to assess:
Founders’ and key team members’ academic and research background
Industry experience in the technology domain
Track record of technological problem-solving and innovation
Red flags:
Over-reliance on external consultants for core technical challenges
A lack of complementary technical skills within the team
2. Execution capability (reliability)
Why it matters: Translating hard tech R&D into viable products requires operational excellence
What to assess:
Ability to deliver on milestones and commitments
Experience managing long development cycles and complex processes
Evidence of resilience in overcoming setbacks. Because there will be setbacks.
Red flags:
Missed deadlines without clear justifications
Lack of experience in scaling projects from lab to production
3. Collaboration and communication (intimacy)
Why it matters: hard tech teams often involve cross-disciplinary collaboration, making trust and communication key
What to assess:
Team dynamics and ability to work across silos (i.e. engineering and business development)
Ability to effectively communicate complex ideas to non-technical stakeholders
Willingness to share concerns and challenges openly
Red Flags:
A siloed approach with little collaboration between team members
Lack of openness about current challenges
4. Vision and market orientation (future fit)
Why it matters: hard tech requires long-term vision coupled with an understanding of market needs
What to assess:
Ability to articulate a compelling vision grounded in technical feasibility and market potential
Awareness of regulatory hurdles and market dynamics
Evidence of adaptability to pivot if market conditions change
Red flags:
Overconfidence in technical superiority without considering market fit
Narrow focus on academic output rather than commercial outcomes
5. Entrepreneurial spirit (self-orientation)
Why it matters: hard tech teams must balance technical depth with business acumen
What to assess:
Motivation to build and scale a company, not just a technology
Willingness to seek advice and involve external expertise when necessary
Commitment to the long journey of deep tech commercialization
Red flags:
Focus solely on research without commercial aspirations
Inflexibility in adapting to business or market realities
Incorporating trust into a team analysis
Some of the above learnings are from The trust equation (shout out to Menno van Dijk at ScaleUp Nation). In between brackets, I’ve added words that together encompass trust in the founder team evaluation. This is in my opinion a key theme when assessing founder teams.
Practical tips
Look beyond CVs and interview team members to understand how they think about scaling challenges, collaboration, and resilience.
Test alignment with the vision. Is the team’s vision aligned with both the technical feasibility and the demand in the market?
Assess adaptability: evaluate how the founding team responds to feedback, setbacks, and shifting priorities between raising funds, product development, or market traction.
Observe team dynamics. Engage the whole management team in diligence processes to gauge communication and feedback styles.
Evaluating the team behind a hard tech startup requires more than asking for CVs and counting the number of PhDs. It involves assessing their expected ability to turn cutting-edge science into scaleable solutions while navigating long timelines, complex R&D cycles, and shifting market demands. This should help assess strengths and identify red flags early, helping founders and investors align on the road to success.
About Cracking Hard Tech
I have found a noticeable gap between frameworks for tech and their application in hard tech. The cracking hard tech blog series is my attempt to fill that gap. By combining known elements, such as team, product, market & funding, and other factors specific to deep tech, I aim to provide a complete lens through which we can assess the progress and challenges of hard tech startups.
Over the coming months, I’ll dive into these topics in a series of blogs. Each blog will focus on a specific component of the framework, offering practical insights and examples. Look at this as a starting point, not the definitive answer. Hard tech is rapidly evolving, and I aim to start a conversation and invite collaboration. Let’s crack hard tech together!
About the author
I’m Ytsen, a passionate VC investor investing in deep tech hardware companies in Northern Europe and Southwest USA. You can find me at https://www.linkedin.com/in/ytsenvandermeer/ and contact me at ytsen@cottonwood.vc. Feel free to reach out to discuss.