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Wednesday, April 17, 2024
HomeTechnologyDoD & SBA Launch Small Business Investment Company Critical Technologies Initiative

DoD & SBA Launch Small Business Investment Company Critical Technologies Initiative

The Small Business Administration (SBA) and the Department of Defense (DoD) have announced the launch of the Small Business Investment Company Critical Technology (SBICCT) Initiative. This is the first initiative under the SBA-DoD partnership, aimed at increasing private capital investment in critical technologies that strengthen the economic and national security of the United States. The SBICCT Initiative will pair private capital with federally-guaranteed loans to boost investment in the DoD’s critical technology areas. By combining the SBA’s successful Small Business Investment Company program with the DoD’s scientific and technical expertise, the initiative seeks to build enduring advantages for both the warfighter and taxpayers.

The SBICCT Initiative serves as a demonstration of the power of public-private partnerships in growing and modernizing the national security supplier base. Through this joint effort, the SBA and DoD aim to attract and scale private capital to critical technologies for national security purposes, as established by Secretary of Defense Lloyd J. Austin III. By leveraging the strengths of the private capital markets, national security supplier base, and technological ecosystem, the United States can maintain its competitive advantage and ensure the future capabilities of the warfighter. To learn more about the SBICCT Initiative and its application criteria, interested individuals can visit the SBA website for additional information.

The Office of Strategic Capital, established by Secretary of Defense Lloyd J. Austin III, plays a significant role in the SBICCT Initiative. Its mission is to attract and scale private capital to critical technologies for national security purposes and ensure that the future warfighter has the necessary capabilities. By partnering with the SBA, the Office of Strategic Capital aims to strengthen the national security supplier base and enhance both national and economic security. To stay updated with the work of the Office of Strategic Capital, individuals can follow their initiatives on their official website.

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