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?
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.
What you’ll learn in this episode:
- (2:00) From PhD research into optical coherence tomography to a startup idea
- (5:15) The crucial pivot that took Laser Depth Dynamics from medical imaging to manufacturing—and why it made all the difference
- (8:00) How leveraging your university ecosystem can give you world-class R&D resources without the overhead
- (9:40) The role strategic partnerships played in landing Laser Depth Dynamics’ very first customer, IPG Photonics
- (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
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Guest: Paul Webster
Paul Webster is currently on sabbatical from his role as President and Chief Technology Officer of IPG Photonics Canada, where he helped lead the integration of Laser Depth Dynamics into one of the world’s foremost fiber-laser companies. As co-founder and CTO of Laser Depth Dynamics, Dr. Webster pioneered inline coherent imaging (ICI/OCT)—the first industrial technology enabling real-time, high-precision monitoring of laser weld penetration—paving the way for its acquisition by IPG in December 2017 . He developed this groundbreaking technology during his Ph.D. studies at Queen’s University at Kingston, which he completed in 2012.
Host: Peng Cau
Peng Cau is a seasoned entrepreneur and innovation leader in advanced manufacturing and industrial automation. She co-founded Transformix Engineering, scaling it into a global automation powerhouse acquired by ATS Corporation in a substantial eight-figure valuation deal. Today, she leads the Startup Program at Siemens Digital Industries Software, supporting deeptech and hardtech founders in scaling transformative technologies. A recognized voice in Canada’s tech ecosystem, Peng serves on several boards, including Reko International Group and the Kingston Economic Development Board. A refugee from Cambodia, her journey from survival to success has earned her national accolades and a respected place in Canada’s business and innovation landscape.
IPG Photonics is a world leader in fiber laser technology, providing the most innovative and productive laser solutions for any industry application. They transform industries by applying light in new and innovative ways, enabling manufacturers to increase quality, lower costs, and maximize productivity with the reliable and energy efficient tools. Learn more about them here.
Pioneers: Startups from Dreams to Reality
Ideas alone can’t change the world. It takes grit, and serious funding. In Pioneers, host Peng Cau sits down with startup founders to discuss the startup lifestyle— from concept to execution— and the big ideas that fuel these pioneers. From the future of farming to autonomous flight, there’s no frontier too far.
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