US EditionDrone-Makers, Defence Start-Ups to Get 'Rapid' Funding Under EU Plans
22 Articles
22 Articles
On Wednesday, the European Commission presented a new SME financing instrument aimed at accelerating the transition from the laboratory to the field of defence technologies related to artificial intelligence, quantum computing, robotics, cybersecurity and space. A budget of €115 million is foreseen. ...
Europe must be ready for tomorrow's wars, declared in Brussels.
Times of India
The Economic TimesDrone-makers, defence start-ups to get 'rapid' funding under EU plans
The European Commission said it will make available 115 million euros ($133 million) to small and medium European defence companies under a new funding tool dubbed "Agile". But defence start-ups in Europe -- which have boosted military spending in the face of a hostile Russia and wavering US security commitment -- have in the past lamented difficulties in securing investments.
EU member states are redirecting €12 billion of cohesion funds to security and defense, and €15 billion to economic competitiveness. Brussels has unveiled a €115 million financial instrument aimed at innovation in the defense industry.
The new pilot instrument, called "AGILE", is mainly aimed at small and medium-sized enterprises, start-ups and scale-ups in the "new defence" sector.
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