Twenty-three NATO Allies have formally change into Restricted Companions of the NATO Innovation Fund (NIF), which is making ready to make its preliminary investments later this 12 months. The Taking part Allies¹ have additionally welcomed Sweden’s curiosity to affix the NIF. Sweden’s participation will take impact upon its accession to the North Atlantic Treaty.
Sweden’s contribution will add to the present EUR 1 billion enterprise capital fund, boosting the investible capital of the NATO Innovation Fund and bolstering progressive capability throughout the Alliance.
“As a member of NATO, Sweden will contribute to the power of the Alliance, not solely by our geo-strategic location and army capabilities, but in addition by a vibrant safety and defence business that promotes innovation and growth of cutting-edge know-how. That is additional enabled by participation within the NATO Innovation Fund,” mentioned Pål Jonson, Minister of Defence, Sweden.
Mr. David van Weel, NATO’s Assistant Secretary Normal for Rising Safety Challenges, welcomed Sweden’s future participation, “This 12 months’s Summit set Sweden additional on observe to turning into the thirty second nation to affix our Alliance, and this historic step will make method for Sweden to take part within the NATO Innovation Fund and to contribute to its necessary mission.”
The NATO Innovation Fund is the world’s first multi-sovereign enterprise capital fund and can spend money on start-ups growing cutting-edge technological options, leveraging the potential for business innovation to deal with crucial defence and safety challenges. The Fund’s Restricted Companions embody 23 NATO Allies on the highest ranges of presidency, enterprise capital, innovation and defence. The Fund will make direct investments into start-ups positioned in any of the 23 taking part Allied nations, in addition to oblique investments into deep tech funds with a trans-Atlantic affect. It should present affected person capital to fulfill the wants and timelines of deep tech innovators and to safe an everlasting future for the Alliance’s 1 billion residents.