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New Department of Defense connects next-generation tech developers with needed capital > US Department of Defense > Department of Defense news

 


The Department of Defense today announced the creation of the Office of Strategic Capital (OSC). The new office is intended to help secure the necessary funding to bring to market technologies currently or in the future that are in development, which may be important to the requirements of the U.S. military.

“The next generation of biotechnology and quantum science often requires long-term funding to bridge the so-called ‘valley of death’ between the laboratory and full-scale production.” Gen. Pat Ryder , said in today’s briefing: “These technology companies are also plagued by a limited supply of long-term ‘patient capital,’ resulting in technology developed with the help of federal research grants and contracts. Even if there is, it will not be possible to transfer the technology to a military capability. ”

OSC was launched by Secretary of Defense Lloyd J. Austin III to allow companies developing technology that may one day be used to support national defense to mature that technology and then to mature that technology. The goal is to help raise funds to make it possible. Enter full-scale production. The types of technology in which the OSC is interested are those that are typically primarily of commercial interest and not purchased directly by the agency, but that enable future defense capabilities.

Ryder says the OSC’s mission is unique. Other innovation organizations within the sector, such as the Defense Advanced Research Projects Agency (also known as DARPA) and the Defense Innovation Unit, are also working to support the development of critical technologies.

“The OSC aims to increase investment between science and technology-focused organizations such as DARPA and commercial-oriented organizations such as the Defense Innovation Unit, enabling key technology companies to develop large-scale production We aim to increase the capital available to help us reach ,” Ryder said.

Ryder said OSC is looking to differentiate how it provides support and is investigating the use of non-acquisition-based financial tools, such as loans and loan guarantees.

“Given the fact that the sector relies on advanced technology for many of the functions it needs to remain competitive, this allows us to work with investors, work with industry, and otherwise fund You get another feature that ensures programs that may not be offered, can be funded in a way that is unattractive to investors and understands them…the so-called “death valley” “It gives us another tool in our toolkit that will ensure we remain competitive against strategic competitors such as China and Russia.”

Sources

1/ https://Google.com/

2/ https://www.defense.gov/News/News-Stories/Article/Article/3233894/new-defense-office-connects-next-gen-tech-developers-with-much-needed-capital/

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