The Defense Department, in partnership with the Small Business Administration, has issued licensees to the first group of investors through the Small Business Investment Company Critical Technology initiative, which will pour more than $2.8 billion into innovative startups and small businesses developing technologies deemed vital to national security.
The first 13 licensed funds approved under the SBICCT initiative are now eligible to receive government-backed loans from the SBA, which they can use to make investments in companies that focus on technologies across 14 critical technology areas, including microelectronics, space technology, advanced computing and software and trusted AI and autonomy.
