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STS's Schubert: Capital-Efficient "Camel" Startup Scaling

What if you could build a startup that survives downturns, grows profitably, and never depends on constant fundraising? That's the core of the camel-startup strategy — and STS Ventures investor Stephan Schubert breaks it down with 25 years of operating and investing experience.

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Why this matters for deep tech: Capital-intensive deep tech lives or dies on efficiency. The camel playbook — profitable growth, low fundraising dependence — is exactly the discipline hard-tech founders need to survive long R&D cycles.

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