Oct. 21, 2019 —
On November 13, the Department of Defense and the Texas A&M System will co-sponsor Drone Venture Day, the first in a series of Trusted Capital events. Led by the Office of Deputy Assistant Secretary of Defense for Industrial Policy, within the Office of the Secretary of Defense for Acquisition and Sustainment, the Trusted Capital concept intends to build an ecosystem where trusted capital providers and domestic companies can engage to explore mutually beneficial business partnerships, focused on national security requirements.
As Under Secretary of Defense for Acquisition and Sustainment Ellen Lord explained in her October 18 press briefing, “This is a public-private partnership that will convene trusted sources of private capital with innovative companies critical to the defense industrial base and national security.” In order to execute the National Defense Strategy, DoD must have reliable technology protected from the economic threats posed by non-allied partners. In addition, the Office of Industrial Policy is charged with implementing Section 1711 of the National Defense Authorization Act for Fiscal Year 2018 and Section 885 of the John S. McCain National Defense Authorization Act for Fiscal Year 2019. Both of these provisions focus on supporting the defense industrial base—especially small- and medium-sized manufacturers—and adopting processes to limit adversaries’ access to American technology. Trusted Capital provides a forum for capital providers and technology companies to partner in an effort to strengthen domestic manufacturing in the defense industrial base and limit foreign access to technology.
The focus of the November 13 event will be on small unmanned aerial vehicle systems and counter systems. Those interested in attending the event—both technology companies and capital providers—must apply through the Texas A&M System Drone Venture Day website.