The Defence department is seeking interest from private investors in partnering with the government to fund local dual-use companies, after startups warned of a fatal funding gap in Australia.
In what would be the first-ever joint fund, venture capital and other institutional investors have been approached for feedback on the $100 million to $200 million proposal that is yet to receive approval.
Defence first flagged plans to assess investor appetite in Australian companies developing sovereign capabilities as part of its first-ever Defence Industry Development Strategy (DIDS) earlier this year.
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