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Across the globe, inspiring startup founders are creating a meaningful impact on people's lives and generating economic growth through new applications of deep technology. This category, often called "deep tech" for short, includes ventures whose key innovative solution is grounded in potentially game-changing advancements in science and technology-like those leveraging the latest in artificial intelligence (AI), robotics, augmented reality (AR) and virtual reality (VR), cybersecurity, biotechnology, and so on. Because of its ability to catalyze significant changes across industries, deep tech has sometimes been called the "fourth wave of innovation," following on the heels of the industrial revolution, the information revolution, and the digital revolution. And deep tech startups can have a major impact on the world, as their founders spend their days leveraging "tangible scientific discoveries and engineering innovations" in the pursuit of "solv[ing] big issues that really affect the world around them." This case shares the stories of three such founders-born, raised, and working in India, Mexico, and Turkey. Two of the founders launched their own product/service startups, leveraging emerging innovations in AI, cloud computing, computer vision, and biotechnology to address major challenges and opportunities in the medical device and mental health spaces. And the third founder established her own investing startup-a VC fund centered on deep tech ventures, bridging the insights and networks of Silicon Valley with the talent and energy in her region. Through each of their stories, similar themes emerge: capitalizing on the newfound accessibility of deep technologies to solve major problems locally, growing their startups with the ambition to expand beyond their regions, helping establish their regions' entrepreneurial ecosystem for future generations, and helping talented people all over the world reach their potential.

The case on Satyukt analyzes the platform business model in the context of Agriculture by capitalizing on remote sensing data and how the founders built up a successful business that benefits farmers, agri-business and insurance companies. The founders kickstarted the platform business solving one use case and acquired a set of users. Satyukt leveraged the data and the initial set of users further to solve additional use cases benefitting other players in the ecosystem. When used in a Platform Business Models course, this case can help students understand a key platform strategy called "coring". It can help draw attention to key focus areas in a business model which could be "cored" to derive more benefits that could expand the reach of the platform to varied set of players. Satyukt is also a classic example of the interplay of technology (data analytics) and platform business model. This could also segue into digital platforms that thrive on analytics.

LeadSquared is a Bengaluru-headquartered Unicorn that provided end-to-end marketing, sales, and onboarding automation solutions on a SaaS (software as a service) platform. It aims to offer the best-in-class sales execution platform for high-velocity sales teams. In 2022, it had about 1200 employees largely in India. In addition to operations in Bangalore, it had operations in Noida, Hyderabad, and Mumbai in India, New Jersey in the US, and Johannesburg in South Africa (after acquiring another firm in the same space). More recently, it had established offices in Jakarta, Indonesia and Melbourne, Australia. LeadSquared has over 2000 customers across 40 countries. The case provides a context to examine the issues faced by a technology startup as it raises funds, attracts employees, and acquires clients. It ends with the stage where the organization aspires to expand, and the leadership is contemplating on the challenges it might face as it expands into new geographies.

This case begins with an overview of China's healthcare system, followed by an introduction to the country's hospitals' pursuit of digital transformation and a profile of Ruijin Hospital. The case then focuses on how Ruijin Hospital laid out a vision for the digital hospital and translated it into strategic goals that addressed the needs and concerns of multiple stakeholders. It covers how the hospital explored technology solutions for smart services, healthcare, and management to drive its smart transformation. Ruijin Hospital Affiliated to the School of Medicine, Shanghai Jiao Tong University inaugurated the Shanghai Digital Medicine Innovation Center (hereinafter "Innovation Center") on October 27, 2021. The Shanghai Municipal People's Government expected Ruijin Hospital to lead the way in setting national standards and benchmarks for digital transformation in healthcare. At the inauguration ceremony, Ning Guang, the director of Ruijin Hospital, addressed the guests as head of the Innovation Center. He noted that the Innovation Center would play a pivotal role in spearheading the digitization of healthcare, exemplifying smart hospital practices, and extending them to other medical institutions. Ruijin Hospital needed to leverage internal and external resources to help the entire healthcare industry go digital as it moved forward with its smart transformation. However, achieving these dual objectives would prove to be a formidable task. Internally, it had a long way to go to apply its new technologies and digital solutions across the healthcare industry. Externally, the varying levels of informatization and smart technology application across medical institutions hindered the seamless integration and sharing of medical data. To complicate matters further, digitization in healthcare also varied from region to region. Ruijin Hospital faced challenges in extending its standards for digital transformation to other institutions. In this context, how would Ruijin

On March 10, 2023, Silicon Valley Bank (SVB) went into receivership. At the time, it was the second-largest US bank failure in history. What happened? The case briefly describes the story of SVB, from its origin in the early 1980s to March 2023, and focuses on the events surrounding its demise. The case discusses in detail the issues that led to SVB's bankruptcy, in particular interest-rate risk, asset-liability management (ALM), inadequate stress testing, risk management more broadly, corporate governance, regulation, issues related to the bank's focus on venture capital (VC) and private equity (PE) loans, and its exposure to the technology sector. The case also describes the Fed's reaction after the bankruptcy. The SVB episode offers an important learning opportunity that touches many facets of a bank and its environment. It has several clear messages about bank management leadership. The case is well suited for a course on financial institutions, money and banking, and risk management. Ideally it would be positioned after credit, interest-rate, and liquidity risks have been covered, so that students have a better understanding of these concepts before they tackle this case; it could also be used as an introduction to the banking model, its key risks, and the role of the Federal Reserve. At Darden, it is taught in the second-year elective, "Financial Institutions and Markets."

It was September 2022, and, despite a long day at the office, Stephen Price had a lot to consider. He had just finished a meeting with the development and sales team at Graywood Developments (Graywood), during which they had discussed one of the latest developments in Graywood's pipeline-the Centricity project. With a zoning bylaw amendment (ZBA) in hand, kicking off sales for the project was the next step in the process. However, with a looming recession and an anticipated cooling of the real estate market, Price had to decide whether to proceed with a sales launch in the first quarter of 2023, or shelve the launch until market conditions improved. Graywood could ultimately launch sales in January 2023 in the hope of achieving an average selling price of CA$1,650 per square foot, or it could delay the launch until January 2024 and hopefully sell at $1,700 per square foot or higher-though there was no guarantee that the market would improve. He wondered what impact his decision would have on Graywood's plans to launch its tenth real estate fund in 2023. This case includes a complex merchant developer Microsoft Excel model, whereby students can adjust inputs and observe how key metrics change.

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Since its establishment in 1999, Xiamen Golden Home Co., Ltd. (GoldenHome) had adopted a high-end strategic positioning for its professionally produced kitchen cabinets. The company had first established a high-end brand image by differentiating its service and providing consumers with the ultimate full-process shopping experience. It had then consolidated a high-end perception of its products in the minds of its target customers by continuously researching and developing new processes and selecting high-quality materials. When changes in market and competition patterns led it to expand into new home-furnishing categories such as wardrobes and wooden doors, the company worked to transform its brand to encompass the entire range of customized home products. While customers had long recognized the high-end nature of the company's kitchen cabinets, it had been more difficult to transfer this brand recognition over to the new product lines. Moreover, substantial changes in the competitive landscape had made the company's original high-end positioning ambiguous. In 2022, the company faced a dilemma about its future development: Should GoldenHome use high-level strategic changes to establish its entire series as high-end products, or should it implement differentiated positioning for different product lines, maintaining the high-end positioning of its kitchen cabinet products while positioning other product lines for mass-market consumers?

In April 2021, the owner and founder of Claw & Kitty (CK) in Markham, Ontario, was considering moving his claw machine arcade to a larger location to continue growing his business. The owner had managed to grow his business despite the challenge of numerous pandemic-related shutdowns, and now he wanted to expand. He needed to decide whether this was a good time to do so. Would CK be able to survive if the Ontario government implemented future lockdowns or capacity limits? The owner had to assess the return and payback he might expect on this large investment and consider how he would fund the expansion. He would need to analyze the incremental revenues and costs and compare these against the investment to determine whether this move made sense from both qualitative and quantitative perspectives.

This case involves quantifying emissions, their impact, and applying the social cost of carbon to complete a comparative financial valuation for a fictional startup, VerticalFarm Co. (VFC). VerticalFarm Co. sites, develops, and owns/operates vertical farms in retrofitted buildings such as warehouses or high rises. These vertical farms grow fresh produce (e.g., lettuce, spinach, microgreens and herbs), using lighting, water nutrient delivery systems, and temperature control. VFC's leadership is passionate about providing fresh, nutritious food in traditionally food-insecure urban areas and creating employment opportunities in the local community. They aim to expand their operations to a building in Chicago for which they seek venture capital (VC) investment. The fictional protagonist is a senior investment analyst at a large VC firm. She is asked by her boss to evaluate how the social cost of carbon would affect the firm's current valuation of VCF-and her analysis and recommendation is due in just a few days, per the request of the firm's board of directors. Students are asked to act as the protagonist and incorporate the social cost of carbon into the proforma projections and then compare them to the original due diligence analysis. Finally, they will make a recommendation either "for" or "against" investing in VFC. The case provides an overview of climate change; why emissions are a challenge (from both global stability and monetary impact quantification perspectives); an overview of controlled environment agriculture; and the framework for an analysis and the quantification of the social cost of carbon. Data on alternative estimates of the carbon price for the United States are provided.

Highlighting the successful implementation of a sustainable large-scale residential development that defied powerful Hurricane Ian, this case focuses on Sydney Kitson and his sustainable real estate development company - Kitson & Partners - and how the firm is handling Florida's situation. Detailing the combination of government intervention, market demand, and business opportunity, this case provides insight into the business reasons to pursue sustainable practices. The case describes the current effects of climate change in Florida, specifically analyzing its impact on housing development, as both population and the risk of storm damage increase. The goal of the case is for students to realize that business is not always the problem but, in many cases, the solution for many of our environmental problems. The class discussion aims to help students better understand the factors that allowed Kitson to be successful and how there is opportunity for similar business ventures in the future.

For scalable climate action, regulation must be partnered with industrial strategy to incentivize demand for sustainable finance. The authors describe how Japan is working to do this with a balanced mix of incentives and regulation that is in marked contrast to the approaches of the United States (mostly incentives) and the European Union (mostly regulation).

Focusing on the field of intelligent projection, Xgimi built a strategic development model with the whole machine, algorithm, and software system at the core. It creatively integrated projection, audio, and an intelligent system, thus becoming a leading enterprise in the domestic projection devices industry. In the development process, Xgimi faced the challenge of deciding whether to switch from cost-effective competition to differentiation competition. This necessitated a comprehensive analysis, considering factors such as the target customers, the company's ability to meet customer needs, competitive products or substitutes, competitors, differences between them, competitors' reactions, Xgimi's core competencies, and whether it had sufficient resources to drive the switch in the strategic direction (including price adjustment). This case provides an example of a transition from low-end to high-end product competition for a firm in an emerging market or a developing country. It also exemplifies a firm's commitment to technology and innovation-driven growth.

Born out of a desire to bring technological advances in enterprise software into the healthcare vertical, Peter Gassner and Matt Wallach founded Veeva to bring life sciences companies into the digital age for data management in both the commercial and R&D sectors. Over the course of years of growth, the company expanded to take a commanding share of the market and become the nearly-uniform "operating system" for life sciences companies. Veeva also became the first Public Benefits Corporation (PBC) in the U.S. to enshrine their objectives for the industry within their business model and as one of five stakeholders, along with shareholders, as a for-profit company. Veeva is now at a crossroads and must decide where to go to ensure compliance with their objectives as a PBC, continue their growth and expansion, and ensure they maintain market share. What should the company do?

U.S. beverage giants PepsiCo and Coca-Cola shared many similarities by August 2018-both were founded by pharmacists in the 1890s, grew to offer hundreds of drink brands, and championed rival flagship products that drove loyalists into taste-testing wars. That month, each company announced its largest acquisition in history, of SodaStream and Costa Coffee respectively. But why would such similar firms pursue such different diversifications? Which was the better direction of scope expansion?

The case describes India's economic development trajectory, with a specific focus on the last few years under the Modi administration. It provides insights into the current economic profile and competitiveness of the country. The case enables students to identify the significant economic opportunities India has as well as the key barriers for growth it will have to remove.

The OneTen case study examines the nonprofit organization's origin story. Its founding team includes a roster of corporate superstars-Ken Chenault (former CEO of American Express), Ken Frazier (former CEO of Merck), Charles Phillips (chair of Infor), Ginni Rometty (former CEO of IBM), and Kevin Sharer (former CEO and chair of Amgen). In May 2020, soon after the murder of George Floyd, this group came together to form a nonprofit that would partner with companies, talent developers, and Black talent, with the goal of hiring one million Black people in the U.S. into jobs with family-sustaining wages over the next 10 years. Equally important is an emphasis on the promotion of talented Black employees within existing companies. The case is set in late 2020, just after the hire of OneTen's first CEO, Maurice Jones; it explores how the organization was established, structured, and staffed, and how it has so far built its partnerships.

This case explores the work of Ozyegin Social Investments, founded by Husnu Ozyegin , one of Turkey's most successful entrepreneurs. With a focus on education, health, gender equality, rural development, and disaster relief in Turkey, Ozyegin Social Investments and the Ozyegin family-Husnu, his wife, AyÅŸen, and their children, Murat and AyÅŸecan-have spent decades serving and improving communities in need. Their efforts led to the creation of one of Turkey's top universities, the establishment of schools and rehabilitation centers, post-earthquake humanitarian shelter and facilities, nationwide campaigns and an internationally recognized educational training initiative for young children, amongst other achievements. Students will learn how Ozyegin Social Investments represents a model of giving that has had a significant impact across multiple sectors of society and discuss how the legacy can be sustained in the future.

Senaca East Africa, aka Sentry & Patrols, is a Kenya-based security guard firm founded in 2002 by John Kipkorir, a longtime member of the Kenyan police. At the time, there were only a few well-known Kenyan-owned security companies, and crime was rising. After some early stumbles, Sentry & Patrols grew rapidly and John's wife and daughters joined the business. Part A of this case details the family's early struggles to grow their operation, develop expertise and define their roles in the business. It follows the first eight years in operation, during which John's wife and eldest daughter became full-time employees. It traces their journey up to the point that Sentry & Patrols was approached by a European firm about a merger. The tie-up prospect offered risk and reward. By that time, Sentry & Patrols had become one of the best-known guard firms in East Africa, with more than 1,000 workers. But cash flow was tight, clients were slow to pay, and the company was struggling to expand. This case examines the challenges of defining roles in a family business and setting up effective governance structures. Case A ends with the family mulling the merger offer. Part B of this case details what happened after the family agreed to the merger and changed the company name to Senaca. Initially, the tie-up brought benefits. The company grew to 1,500 guards and landed contracts with universities, hotels and companies such as Nokia. The business diversified, expanded to Uganda, started a guard training school, and launched a technology arm. The company invested in equipment such as cameras, body scanners, security gates and electrical fencing for their new clients. However, this period presented the Kipkorirs with many challenges. John Kipkorir's other daughters became involved with the company, but over time, their decision-making power was eroded by their European partners, and the business nose-dived. This part of the case challenges students to think about family business struc

Senaca East Africa, aka Sentry & Patrols, is a Kenya-based security guard firm founded in 2002 by John Kipkorir, a longtime member of the Kenyan police. At the time, there were only a few well-known Kenyan-owned security companies, and crime was rising. After some early stumbles, Sentry & Patrols grew rapidly and John's wife and daughters joined the business. Part A of this case details the family's early struggles to grow their operation, develop expertise and define their roles in the business. It follows the first eight years in operation, during which John's wife and eldest daughter became full-time employees. It traces their journey up to the point that Sentry & Patrols was approached by a European firm about a merger. The tie-up prospect offered risk and reward. By that time, Sentry & Patrols had become one of the best-known guard firms in East Africa, with more than 1,000 workers. But cash flow was tight, clients were slow to pay, and the company was struggling to expand. This case examines the challenges of defining roles in a family business and setting up effective governance structures. Case A ends with the family mulling the merger offer. Part B of this case details what happened after the family agreed to the merger and changed the company name to Senaca. Initially, the tie-up brought benefits. The company grew to 1,500 guards and landed contracts with universities, hotels and companies such as Nokia. The business diversified, expanded to Uganda, started a guard training school, and launched a technology arm. The company invested in equipment such as cameras, body scanners, security gates and electrical fencing for their new clients. However, this period presented the Kipkorirs with many challenges. John Kipkorir's other daughters became involved with the company, but over time, their decision-making power was eroded by their European partners, and the business nose-dived. This part of the case challenges students to think about family business struc