The Department of Defense has stood up an office with the goal of helping technology developers find the capital they need to bring platforms to the military and national security markets.
Defense Secretary and two-time Wash100 Award recipient Lloyd Austin said in a statement released Thursday the Office of Strategic Capital will work to address investment gaps in critical technologies that require long-term financing support.
“We are in a global competition for leadership in critical technologies, and the Office of Strategic Capital will help us win that competition and build enduring national security advantages,” Austin added.
The OSC will be headed by a director who will report to an advisory council composed of the undersecretaries of defense for acquisition and sustainment, research and engineering and policy as well as DOD’s comptroller, general counsel and director of cost assessment and program evaluation.
“OSC is part of a broader administration-wide effort to ‘crowd-in’ private capital in areas where our efforts can boost our future security and prosperity,” said Heidi Shyu, undersecretary for research and engineering and a two-time recipient of the Wash100 Award.
The OSC will look to credit programs and other non-acquisition-based tools to deploy capital.
Heidi Shyu will deliver the opening keynote at the Potomac Officers Club’s 9th Annual Defense R&D Summit on Feb. 8, 2023, at Falls Church Marriott Fairview Park in Virginia. Visit the POC Events page to reserve your seat at the event.