10.08.2022
Chicago 11, Melborne City, USA
Finance

NATO creates one billion euro innovation fund

At the NATO summit in Madrid, an agreement was signed by 22 member states to create an innovation fund worth one billion euros. The fund will support the development of new technologies for dual civilian and military purposes, including, for example, investments in new technology companies that work in accordance with the strategic goals of the alliance.

“It is very important that we do our best to keep abreast of the latest developments,” stressed NATO Secretary General Jens Stoltenberg before signing the document.

Stoltenberg said it was a challenge for Russia and China to lead in areas such as space exploration and artificial intelligence.

The financial fund will be complemented by a new NATO Innovation Facility (DIANA) designed to “support the development of the transatlantic innovation community”. DIANA, in particular, specializes in innovations in the field of artificial intelligence, macro data processing, quantum technologies, biotechnology and the development of new materials. The mechanism, which includes a network of nearly 60 innovation venues across Europe and North America, aims to promote critical technology collaboration involving academia and civil society. To this end, one regional office will be established on each of the two continents.

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