Sweden has officially become a Limited Partner of the NATO Innovation Fund, joining 23 other countries to invest in advanced technology and science to enhance the defence, security and resilience of the allied nations.
This news makes Sweden the 24th NATO ally to join the independent venture capital firm. The group invests in deeptech startups and scaleups that strengthen its collective security, and is a condition of accession to NATO. The country will now contribute to the existing €1bn fund backing innovation across the alliance.
Andrea Traversone, Managing Partner of the NIF, said:
"NIF is a new type of investor, focused on deep tech applied to defence, security and resilience. With Sweden's backing, we can take this mission even further, and we're excited by the opportunities to support advanced technology and science that we see in Sweden and across Europe more widely."
Swedish Minister for Defence Mr Pål Jonson said:
“Joining NATO allows Sweden to strengthen the Alliance, leveraging not just our strategic geographic position and military resources, but also our robust defence and security sector that drives technological innovation and development. Our participation in the NATO Innovation Fund further enhances this contribution.”
Participating NATO Allies are Belgium, Bulgaria, Czechia, Denmark, Estonia, Finland, Germany, Greece, Hungary, Iceland, Italy, Latvia, Lithuania, Luxembourg, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Spain, Sweden, Türkiye and the United Kingdom.
Would you like to write the first comment?
Login to post comments