WASHINGTON - The Defense Department established the Office of Strategic Capital (OSC) Dec. 1 that will be focused on driving private sector capital toward technology development to faster help the military to field innovative capabilities. OSC will be staffed and operational within 90 days and reside within the Pentagon’s chief technology office. OSC will identify technology areas with national security applications that have not received sufficient investment. It will then take the lead on drawing funding toward those areas. In October, SECDEF Austin called for business leaders to offer recommendations for how DoD might take advantage for private sector investment in technology with national security applications. The Pentagon has struggled to transition innovative technologies from commercial companies to the field. OSC will work with investors and industry to secure needed funding to keep high-need technology programs alive. (Defense News 12/01/22) Pentagon’s strategic capital office to spur investment in defense tech (defensenews.com)
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