Press Release
☷DoD Announces Release of FY24 Investment Strategy for the Office of Strategic Capital
U.S. Department of Defense ( By Press Release office)
Mar 15,2024
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In December 2022 , Secretary of Defense Lloyd J . Austin III launched the Office of Strategic Capital ( OSC ) to attract and scale private capital in support of national security . This week , Secretary Austin announced the release of the first Investment Strategy for the Office of Strategic Capital . The Investment Strategy identifies priority critical component technology industries for OSC focus and describes how OSC will encourage private investment in these priority industries . The Investment Strategy is being made public to engage with public and private sector stakeholders and further OSC ' s mission . I created the Office of Strategic Capital to promote private - sector investment in the latest tech that will keep America secure in the 21st century , Austin said . This investment strategy will use America ' s strengths in innovation and free enterprise to strengthen our industrial base and invest in tech areas crucial for national security . The Investment Strategy provides a framework for OSC programs to complement existing DoD and U . S . government programs . It also explains how OSC selected which technology areas to prioritize for its initial program activities , based on careful analysis of national security applications , U . S . market competitiveness , and capital needs for critical technology industries . The Investment Strategy identifies initial priority areas for the first OSC program , the DoD - Small Business Administration Small Business Investment Company Critical Technologies ( SBICCT ) Initiative . The SBICCT Initiative combines private capital with federally - guaranteed loans to increase investment in DoD ' s critical technology areas . OSC ' s initial technology priorities for private sector investment include: Nanomaterials and Metamaterials ( Advanced Materials ) , Bioenergetics ( Biotechnology ) , Synthetic biology ( Biotechnology ) , Open RAN ( FutureG and 5G ) , Sensor hardware ( Integrated Sensing and Cyber ) , Assembly , Testing , and Packaging ( Microelectronics ) , Materials ( Microelectronics ) , Quantum computing ( Quantum Science ) , Quantum security ( Quantum Science ) , Quantum sensing ( Quantum Science ) , Battery storage ( Renewable Energy Generation and Storage ) , Space - enabled services and equipment ( Space Technology ) . The Investment Strategy is part of the Department ' s collaborative approach to working with private capital markets for national and economic security . For more information on how to participate in OSC program activities and to sign up for additional updates , please visit https://www . cto . mil . osc/ .
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