NATO Innovation Fund begins with 1 billion euro in defense tech ai sector America not supporting

NATO Innovation Fund: The Russia-Ukraine war, advanced weapons around the world and the increasing use of artificial intelligence (AI) in weapons are now forcing every country to think afresh. 24 out of 32 members of NATO, whose full name is North Atlantic Treaty Organization, have said that they will now invest in 4 European tech companies. This investment of 1 billion euros (about 89.52 billion rupees) will be made to become advanced in the field of AI, space and robotic defense tech.

a report of AccordingThe purpose of this investment is to find solutions to the challenges in the field of defense and security. According to Euronews, NATO announced this fund (NATO Innovation Fund) in the year 2022, when Russia attacked Ukraine. Through the fund, startups developing defense technology and government buyers purchasing those technologies will be connected and they will be able to deal with each other.

All the companies that have received initial investment are from Europe. These include Germany’s ARX Robotics. It designs unmanned robots.

Apart from this, London-based computer chip maker company Fractile, iComat and Space Forge have also received funds. These companies prepare materials for space.

NATO has also invested in four venture capital funds under the innovation fund. These focus on deep tech. These include Join Capital, Vsquared Ventures, OTB Ventures and Alpine Space Ventures. The special thing is that NATO will invest in them for about 15 years.

Why is NATO Innovation Fund needed?

According to the report, there is a gap between innovators and the military, which needs to be filled. On one hand, the military does not know what the latest defense technologies are. On the other hand, innovators do not know the needs of the military. When both connect, the output is expected to be good.

Apart from this, governments usually do not move forward quickly in any project. NATO’s investment fund will work fast without any government hindrance. But the special thing is that big NATO countries like America, Canada and France are not supporting this fund.