The new $ 1 billion NATO Innovation Fund supports a wide range of emerging technologies

Written by John Harper June 30, 2022 | FEDSCOOP

NATO leaders officially launched a $ 1 billion innovation fund on Thursday to invest in companies working on a number of dual-use technologies with great military potential.

Claimed as the world’s first multi-sovereign venture capital fund involving 22 countries, to start-ups and other entities developing emerging technologies of interest to the Alliance, including artificial intelligence, autonomy, big data processing, and quantum. The purpose is to make a long-term investment. -Effective technology, biotechnology, human enhancement. New material; energy; propulsion and space.

“This fund is unique. NATO Secretary-General Jason Stoltenberg said at the signing ceremony at the summit in Madrid that alliance leaders signed a pledge to support the initiative. Over the next few decades, the NATO Innovation Fund will enable early technology to transform security, strengthen the Alliance’s innovation ecosystem, and enhance the security of one billion citizens. Helps to.

The summit was attended by President Biden, allies’ counterparts and other world leaders.

Stortemberg said at a press conference Wednesday that he would work with the new Defense Innovation Accelerator (DIANA) for the North Atlantic to help the alliance leverage the best new technologies for cross-Atlantic security. The DIANA Initiative provides innovators with access to the facilities they have access to, including more than 60 test centers in Europe and North America.

According to the White House fact sheet released Wednesday, DIANA will support NATO’s efforts to increase interoperability and give all allies access to cutting-edge technology solutions that meet military needs.

According to the White House, the United States will contribute to this initiative by facilitating access to US test centers and other technology accelerator sites in the broad and diverse US innovation sector.

During the summit, NATO also announced a new strategic concept that emphasized the need to adopt new technologies to improve the defense capabilities of the alliance.

-In this story-Autonomy, Big Data, Biotechnology, North Atlantic Defense Innovation Accelerator, DIANA, Emerging Technology, Energy, Jensstrutenberg, NATO, NATO Innovation Fund, Propulsion, Quantum

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