From PhD Lab to Industry Leader: Paul Webster’s Journey to a Hard Tech Exit

What if your PhD side project could turn into a multimillion-dollar acquisition in just five years—without going through endless VC rounds? What you’ll discover… The crucial pivot that took Laser Depth Dynamics from medical imaging to manufacturing—and why it made all the difference How leveraging your university ecosystem can give you world-class R&D resources without the overhead Why empathy might be the most underrated skill for technical founders The role strategic partnerships played in landing Laser Depth Dynamics’ very first customer How to prepare your company for acquisition from day one Where to find it… (2:00) From PhD research into optical coherence tomography to a startup idea (5:15) The big pivot: starting a technology business (8:00) Using the university ecosystem to develop and test prototypes (9:40) Strategic partnerships with IPG Photonics and securing first customers (13:40) Building marketing assets that engineers often overlook (19:05) Understanding product-market fit in B2B hard tech (25:10) Finding and cultivating early adopter customers (28:15) Funding strategies without heavy VC involvement (46:32) Leadership styles and growth over time (50:15) Preparing for acquisition and knowing when to sell More about the episode Turning cutting-edge research into a viable, market-ready product is never easy—especially in hard tech, where the path from prototype to profitability is often long and capital-intensive. But Paul Webster, Chief Technology Officer and General Manager at IPG Photonics Canada, managed to do just that with Laser Depth Dynamics, the company he co-founded while finishing his PhD at Queen’s University. In this episode of Pioneers, host Peng-Sang Cau dives deep into Paul’s journey from academic research to successful acquisition. You’ll hear how he pivoted from medical imaging to manufacturing to shorten time-to-market, leveraged the resources of the university ecosystem to refine his prototype, and built strategic relationships—most notably with IPG Photonics—that fast-tracked his path to customers and growth. Paul also reveals how empathy, overbuilt hardware, and smart pricing decisions helped him win early adopters, how he avoided the common pitfalls of hard tech fundraising, and why preparing for acquisition starts on day one. For founders, investors, and innovators in deep tech, this episode offers a masterclass in turning research into a thriving business. Connect with us Peng-Sang Cau LinkedIn Website Paul Webster LinkedIn