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The Office of Strategic Capital within the U.S. Department of Defense announced the availability of $984 million for equipment financing for projects to develop critical technologies. Companies can have their loans sponsored by another public or nonprofit entity, which appears to be a means of supplementing applications from companies that are otherwise too new or financially risky. Loan applications will be available from January 2 to February 3, 2025, and the office anticipates making 10 loans from $10-$150 million.

The U.S. Department of Defense released requests for information regarding a new loan program for critical technologies that will be launched through the Office of Strategic Capital.

The National Defense Authorization Act for FY 2024, signed in late December, ultimately contained fewer provisions related to research, technology, and entrepreneurship than the draft versions of the legislation initially proposed. Nonetheless, the final bill made some changes that could stabilize some of the department’s innovation activities in recent years and add some flexibility for companies and organizations engaging in technology transfer activities with defense institutions. Specifically, four sections worth noting in the FY 2024 NDAA are the following:

The Department of Defense recently awarded six Defense Manufacturing Community Support Program (DMCSP) grants totaling approximately $30 million from the Office of Local Defense Community Cooperation (OLDCC). The DMCSP invests long-term in critical skills, facilities, workforce development, research and development, and small business support to strengthen the national security innovation base.

The Department of Defense announced yesterday that it issued $238 million from "Creating Helpful Incentives to Produce Semiconductors (CHIPS) and Science Act" funding for the establishment of eight Microelectronics Commons (Commons) regional innovation hubs. With $2 billion in funding for Fiscal Years 2023 through 2027, the Microelectronics Commons program aims to leverage these hubs to accelerate domestic hardware prototyping and "lab-to-fab" transition of semiconductor technologies.

The inaugural Manufacturing Momentum Summit is an opportunity for federal, state, regional, and local leaders to share their efforts to prepare the workforce required for the advanced defense manufacturing supply chain. Held in conjunction with several partners, including the DoD Manufacturing Technology Program, the Center for Regional Economic Competitiveness, and the American Manufacturing Communities Collaborative, the Summit will be held from September 12 - 14, 2023, in Arlington, VA.

The Department of Defense (DOD) receives about $95 billion annually to support research and development efforts. But some members of Congress feared that requesting and allocating those funds took too long. It usually takes two years, which hinders response to evolving threats. The Senate addressed this issue in the Senate Report on the National Defense Authorization Act for Fiscal Year 2022, calling for the U.S.

The 2022 National Defense Strategy, released last week, emphasizes the need to accelerate the Pentagon’s capacity for buying and deploying emerging technologies. Technology sectors called out as targets include advanced materials, artificial intelligence, biotechnology, clean energy, directed energy, hypersonics, microelectronics, quantum science and space. The report indicates that the Department of Defense (DOD) is considering R&D funding, ecosystem support and adapting civilian technologies among the tools it will use to pursue emerging tech.

The U.S. Department of Defense’s Office of Local Defense Community Cooperation (OLDCC) recently announced the six winners under the Defense Manufacturing Community Support Program (DMCSP), with funding of approximately $30 million.

On Tuesday, the Senate passed a bill to extend the SBIR, STTR and related pilot programs through Sept. 30, 2025. The House is expected to act on the legislation next week, just ahead of the current expiration at the end of this month.