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Politics

Greece and All NATO Allies Take the Lead on the Development of Innovation Fund

October 22, 2021

ATHENS — Defence Ministers from 17 allied countries – Belgium, the Czech Republic, Estonia, Germany, Greece, Hungary, Italy, Latvia, Lithuania, Luxembourg, the Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia and the United Kingdom – agreed to take the lead on the development of NATO’s first Innovation Fund.

“At the Brussels Summit, NATO leaders committed to strengthening our Alliance, including by promoting and protecting transatlantic innovation”, the Secretary General said. “Today we are delivering on that commitment. And together we will keep our people safe in a rapidly changing world”, he added.

This multinational Fund will help NATO retain its technological edge by enabling investment – worth 1 billion euros – in dual-use technologies of potential application to defence and security. It will also facilitate closer and trusted cooperation with deep-tech innovators, which may otherwise be unable to develop successfully the innovative solutions most needed to the protection of the Alliance.

Together with NATO’s Defence Innovation Accelerator for the North Atlantic – or DIANA – the Innovation Fund will support the development of a protected transatlantic innovation community.

Since its launch at NATO’s Brussels Summit, a number of Allies have made offers to host the headquarters, test centres and accelerator sites that will make the DIANA network in both Europe and North America.

Both initiatives are expected to be fully in effect by NATO’s Madrid Summit in 2022.

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