File photo.
The European Commission on Wednesday unveiled a 115 million euro ($133.42 million) fund aimed at accelerating innovation in defense technologies, Reuters reported.
The fund is intended to speed up the development and testing of “disruptive defense innovations” and bring them to market more quickly, the Commission said.
It will focus on supporting small and medium-sized enterprises, including startups, and is expected to fully fund between 20 and 30 projects. The goal is to deliver new technologies to armed forces within one to three years.
The initiative is expected to become operational in early 2027, pending approval by the European Parliament and EU member states.