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The Department of Defense’s Office of Strategic Capital and the Small Business Administration’s Office of Investment and Innovation have launched a joint initiative to increase private sector investment in national security technologies.
DOD said Friday that the Small Business Investment Company Critical Technology program will match private capital with federally guaranteed loans to boost investment in critical technology areas and modernize the U.S. national security supplier base.
“In alignment with the National Defense Strategy, the SBICCT Initiative will further enable DoD to work with both government and the private sector to build enduring advantages for the warfighter and for the taxpayer,” said Lloyd Austin, secretary of defense and a 2023 Wash100 awardee.
The SBICCT program is the first initiative launched as part of the SBA-DOD partnership announced in December 2022.
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