A new initiative has been launched by a coalition of Ukrainian and American companies, along with technology experts, to bolster Ukraine’s defence capabilities through investment in small tech startups. The Military Innovation Technology Solutions (MITS) Program aims to provide a much-needed boost to Ukraine’s defense sector.
Participating startups in the international defense accelerator will receive a substantial investment of $200,000, with half of the funds allocated for direct investment in the companies and the other half for the expertise and support provided by American University Kyiv.
This forward-thinking program will specifically target companies with groundbreaking innovations in various areas such as ground robotic systems, unmanned aerial and underwater vehicles, electronic warfare, mining and demining equipment, as well as cybersecurity solutions.
In addition to financial support, MITS and American University Kyiv will also provide the businesses with a unique business program designed to facilitate their operations on a global scale.
The program is spearheaded by prominent stakeholders including Ukraine’s Ministry of Defense, Strategic Industries, and Digital Transformation, with a supervisory board led by Dr. Phillip Karber, former US Secretary of Defense Strategic Advisor, and Ernest Herold, former NATO Deputy Assistant Secretary General for Defense Investment.
MITS Program Phases
The program will be implemented in two key phases, each aimed at providing startups with the necessary tools and resources to thrive in the competitive defense industry.
The initial phase will focus on equipping the startups with essential business skills such as education, fundraising, and financial management. Arizona State University and industry experts from various countries will lend their expertise to standardise the stages and ensure a well-rounded learning experience for the participants.
The second phase will be centred on effectively fulfilling defense orders, in collaboration with leaders from Ukrainian and international defense companies. This hands-on approach will enable startups to apply their newfound skills and knowledge in a practical setting, thus fostering real-world success in the defense sector.
With the support and guidance of the MITS Program, Ukraine’s defense tech startups are poised to achieve unprecedented growth and innovation while contributing to the overall security and stability of the nation. This collaborative endeavour represents a significant step towards strengthening Ukraine’s defense capabilities and fostering a thriving ecosystem for technological advancement in the defense sector.
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