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Business/Financial

DoD Establishes New Office To Help Tech Companies Access Private Capital

By Cal Biesecker

Thursday, December 1st, 2022

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DoD Establishes New Office To Help Tech Companies Access Private Capital

Defense Secretary Lloyd Austin holds a press briefing at the Pentagon on Feb. 19, 2021.

Defense Secretary Lloyd Austin on Thursday established a new DoD office charged with helping companies that are developing technologies critical to national security partner with private capital to help them get the financing necessary to ensure these technologies transition out of the laboratory and into production. The DoD said that the targeted companies lack long-term capital, which prevents them from transitioning their technology into military capabilities, even when they have benefited from federal research grants and contracts. These technologies also…

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