6G Start-up Disruptors Wanted: Does the Next Gen of Wireless Telecom Innovation Need Some Fresh Blood?
Earlier in March, the telecommunications industry witnessed two pivotal events on their path to 6G – the annual MWC 2025 connectivity event and the 3GPP 6G workshop in Korea. As I mentioned in my last 6G post, I find three broader innovation areas (AI/ML, subTHZ, unified terrestrial/non-terrestrial architecture) particularly interesting, so now is a good time for an update. At MWC 2025, 6G discussions were disappointingly muted, as the industry remains focused on 5G and its advancements. And while the 3GPP workshop overall signified a milestone in cellular technology evolution, I am noticing distinct differences in how the 6G ecosystem is developing compared to previous generations.
Firstly, the 6G conversation is dominated by half a dozen large providers of telecommunications equipment, silicon, and mobile operators, as evidenced by the leadership of various 3GPP Technical Specification Groups (TSG). Virtually no venture-backed companies participate in a material way. Secondly, likely influenced by the disappointing results in generating additional revenue streams from 5G (and yes, private 5G is still looking for its hockey stick moment), only a few green shoots of VC-backable start-ups are emerging. These companies are primarily spin-outs from universities that often received prior government funding, such as in Finland, to pioneer 6G-related innovations. While every 4G/5G start-up’s exit can be debated on its merits, we seem to be a long way from funding the next Altiostar and Cellwize.
Thirdly, the overall narrative on 6G-driven use cases generating incremental revenue streams, especially for Day 1 network services, is still in its early stages of maturity. The majority of use case-specific discussions revolve around leveraging AI for operational and capital expenditure optimization in network services and capabilities initially conceptualized during 5G's early hype phase. However, there are significant exceptions to this trend, including:
- Integrated Sensing and Communications (ISAC)
- Extended Reality (XR)
- 6G Non-Terrestrial Networks (NTN)
- Quantum-safe network security
- Select physical layer innovations
- Potential future development of 'spectrum as a service' spot market platforms
These emerging technologies represent new focal points in the 6G landscape, and shifting the conversation toward how 6G services can drive incremental revenue will be key to attracting venture capital interest for start-ups.
While the journey towards 6G has begun, the next 12 months will be crucial in determining whether a VC-backable 6G start-up ecosystem will materialize. In contrast to previous generations, which generated significant excitement and VC involvement due to the revenue potential of increasingly capable data network services, the 6G venture funding cycle appears to be lagging. Although there are some promising signs, the 6G landscape needs a fresh wave of start-up disruptors to truly captivate the VC industry to help unlock its full potential. Without these innovative players, 6G risks becoming just another incremental step rather than the revolutionary leap it has the potential to be.
