Sweden to Contribute to NATO's $1.1Bln Deep Tech Fund After Accession

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Sweden to Contribute to NATO’s $1.1Bln Deep Tech Fund After Accession

Sweden to Contribute to NATO’s $1.1Bln Deep Tech Fund After Accession

Sweden’s accession to NATO will robotically impact its participation within the NATO Innovation Fund (NIF), a 1 billion euro ($1.1 billion) multi-sovereign enterprise capital fund for investing in protection start-ups, the Swedish Protection Ministry mentioned on Tuesday.

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The NIF is designed to put money into protection and safety start-ups in its companion states, which at present embrace 23 out of 31 NATO international locations. The NIF’s collaborating international locations embrace Belgium, Bulgaria, the Czech Republic, Denmark, Estonia, Finland, Germany, Greece, Hungary, Iceland, Italy, Latvia, Lithuania, Luxembourg, the Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Spain, Turkiye and the UK. Sweden, together with Finland, submitted its NATO software in Might 2022, a number of months after Russia launched its navy operation in Ukraine. Finland grew to become a member of the alliance in April 2023. Sweden’s software remains to be pending ratification by Hungary and Turkiye.

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nato growth, sweden becoming a member of nato, sweden’s nato accession, sweden’s nato membership, sweden’s nato bid, enlargement of nato, nato innovation fund, nif, nato deep tech fund

MOSCOW (Sputnik) – Sweden’s accession to NATO will robotically impact its participation within the NATO Innovation Fund (NIF), a 1 billion euro ($1.1 billion) multi-sovereign enterprise capital fund for investing in protection start-ups, the Swedish Protection Ministry mentioned on Tuesday.

The NIF is designed to put money into protection and safety start-ups in its companion states, which at present embrace 23 out of 31 NATO international locations.

“Sweden’s participation [in the NIF] will take impact upon its accession to the North Atlantic Treaty. Sweden’s contribution will add to the present EUR 1 billion enterprise capital fund, boosting the investible capital of the NATO Innovation Fund and bolstering revolutionary capability throughout the Alliance,” the ministry acknowledged.

The NIF’s collaborating international locations embrace Belgium, Bulgaria, the Czech Republic, Denmark, Estonia, Finland, Germany, Greece, Hungary, Iceland, Italy, Latvia, Lithuania, Luxembourg, the Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Spain, Turkiye and the UK.

Sweden, together with Finland, submitted its NATO software in Might 2022, a number of months after Russia launched its navy operation in Ukraine. Finland grew to become a member of the alliance in April 2023. Sweden’s software remains to be pending ratification by Hungary and Turkiye.


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