Leaders and Ministers from 22 Allied countries launched this morning NATO’s Innovation Fund, the world’s first multi-sovereign venture capital fund ever, devoted to developing dual-use emerging technologies of priority to NATO.
The Fund will invest €1Bn in early-stage start-ups and other venture capital funds developing dual-use emerging technologies of priority to NATO. These include: artificial intelligence; big-data processing; quantum-enabled technologies; autonomy; biotechnology and human enhancement; novel materials; energy; propulsion and space.
The Letter of Commitment giving birth and feeding The NATO Innovation Fund was agreed at a signing ceremony hosted by NATO Secretary General Jens Stoltenberg in the framework of Madrid NATO Summit.
Belgium; Bulgaria; Czech Republic; Denmark; Estonia; Germany; Greece; Hungary; Iceland; Italy; Latvia; Lithuania; Luxembourg; Netherlands; Norway; Poland; Portugal; Romania; Slovakia; Spain; Türkiye and United Kingdom are the 22 Allied Countries providing sources for this fund.
New boost to DIANA
The NATO Innovation Fund will complement NATO’s Defence Innovation Accelerator for the North Atlantic (DIANA) which will support the development and adaptation of dual-use emerging technologies to critical security and defence challenges.
2022 NATO Madrid Summit has also meant a significant progress for DIANA, as Allies have agreed that innovators participating in DIANA’s programs will have access to a network of more than 9 Accelerator Sites and more than 63 Test Centres across Europe and North America.
An unique fund with 15 year timeframe to address an unique challenge
“This fund is unique”, the Secretary General said, “with a 15-year timeframe, the NATO Innovation Fund will help bring to life those nascent technologies that have the power to transform our security in the decades to come, strengthening the Alliance’s innovation ecosystem and bolstering the security of our one billion citizens.”
“This fund is unique. It is the world’s first multi-sovereign venture capital fund ever. Investing €1Bn in early-stage start-ups,and other deep-tech funds across 22 participating nations. Harnessing the best of new technology for transatlantic security. Maintaining our technological edge has helped to keep our Alliance strong and our nations safe for more than seventy years.
But today, nations that do not share our values, like Russia and China, are challenging that lead. In everything from Artificial Intelligence to space technologies. It is essential that we do everything in our power to remain at the forefront of innovation and technology.
This Fund, alongside DIANA, NATO’s Defence Innovation Accelerator for the North Atlantic, will help to do just that,” Stoltenberg explained just after the signing ceremony was held.
NATO Innovation Fund is framed into the new 360º NATO Strategy agreed at the Madrid Summit, which not only is related to the new geo strategic action plan in the East and South Europe borders. I provide a link to the Madrid Summit Declaration arid the end of this post.
Image over the headline.- NATO Secretary General, Jens Stoltenberg, shows the Letter of Commitment establishing the NATO Innovation Fund. Photo © NATO.
Related external links:
NATO Secretary General at signing ceremony of NATO Innovation Fund, 30 JUN 2022 (video)
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