Australian and US Defence departments must forge closer innovation ties to counter China’s technology growth, including jointly backing dual-use breakthroughs with a new venture capital fund, according to a new report.
The proposed dual-use venture fund would include low-cost, long-term financing options from both governments and private investors, and be modelled on an existing US deep tech fund that prioritises “clean” and patient capital.
The latest call to stand up a fund in response to Indo-Pacific geopolitics comes as Australia’s Department of Defence holds early talks with venture capital firms and other institutional investors on a $200 million fund.
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