April 18, 2024

Sweden Joins NATO Innovation Fund to Invest in Defence, Security and Resilience Startups

Sweden has officially become a Limited Partner (LP) of the NATO Innovation Fund (NIF), joining 23 other countries to invest in advanced technology and science and enhance the defence, security and resilience of the allied nations.

Now funded by 24 NATO Allies, the NATO Innovation Fund invests in deeptech driven enterprises that can strengthen our nations’ collective security and prosperity. Having committed to joining the NATO Innovation Fund upon accession to NATO, Sweden now adds to the existing €1bn fund backing innovation across the Alliance.

Operating fully independently from NATO, the Fund invests in technology businesses and funds in the 24 participating Allied nations, now including Sweden. The NATO Innovation Fund invests for the lifetime of a company, providing entrepreneurs with the support they need for up to 15 years. Its relationship with NATO means it understands the Allies’ needs and invests where it can make a difference, working with its portfolio to commercialise, scale and implement their technology across 24 markets.

The NATO Innovation Fund welcomes Sweden’s official participation in the Fund and the opportunity to back Swedish entrepreneurs working on advanced technology and science.

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.”

Mr. David Van Weel, Assistant Secretary General For Innovation, Hybrid and Cyber at NATO stressed that “Sweden’s accession to NATO makes the Alliance stronger, and Sweden joining the NIF considerably strengthens the Fund. Sweden has fostered an exceptional deep tech innovation ecosystem over the past decades, developing exciting technological solutions to strengthen our defence, security and resilience. With this investor in the NIF, all Nordic nations are represented, building a strong innovation partnership.”

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; United Kingdom

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