Tech executives and venture capitalists have written an open letter to U.S. Defense Secretary Lloyd Austin, urging major changes to how the military acquires cutting-edge technology. The letter, signed by 13 companies, proposes enhancements to the Defense Innovation Unit, improvements to federal contracting website SAM.gov, more flexible cost-accounting rules, increased grants through the Small Business Innovation Research program, a $250 million “bridge fund” for scaling up new tech, and an additional $20 billion in annual procurement. The signatories, including Applied Intuition, Anduril, and Palantir, have a combined market value of at least $42 billion, making them influential players in the defense sector.
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Key points:Â
- Tech executives and venture capitalists have written an open letter calling for major changes in how the U.S. military procures cutting-edge technology.
- The proposals include strengthening the Defense Innovation Unit, improving the user interface of federal contracting website SAM.gov, and increasing grants through the Small Business Innovation Research program.
- The signatories, including Applied Intuition, Anduril, and Palantir, have significant financial resources and high-tech expertise, making them influential voices in the defense industry.
Continue reading at https://breakingdefense.com/2023/06/venture-capitalists-tech-firms-beg-defense-secretary-to-speed-up-innovation/Â
