The Vice Prime Minister for Innovation, Education, Science, and Technology Development, Minister of Digital Transformation Mykhailo Fedorov, believes that Ukrainian companies in the defense tech sector could receive $50 million in investments by the end of the year.
He announced this during the Defense Tech Valley investment forum.
"Creating a Silicon Valley for Defense Technologies.The name is not coincidental for us; it is wars that drive technological revolutions. Silicon Valley is one such example. As early as 1933, the U.S. Navy stimulated the development of the valley by investing in the aerospace industry. World War II accelerated radar production, while the Cold War gave impetus to R&D in electronics and semiconductors, leading to the emergence of Silicon Valley. A similar phenomenon is currently happening in Ukraine as we quickly create our own "valley" in the defense sector," said minister.
Brave1 hosted Defense Tech Valley — the first international investment summit that brought together over 650 developers and more than 100 investors. Drone manufacturers, aquatic drones, electronic warfare systems, communication tools, VR training simulators for close combat, and drone systems had the opportunity to pitch their projects to Ukrainian and international investors.
During the event, discussions were held regarding investment agreements that could already bring in tens of millions of dollars. Thus, the goal of securing $50 million in investments by the end of the year is a realistic and strategically important target.
"Every month, over 200 new developments appear on the Brave1 platform, each requiring funding. The cluster provides government grants and regularly organizes events to connect developers with investors to attract financing. Technologies are our asymmetric response to the enemy and a chance to gain an advantage in the war, so conditions for the development of Defense Tech must be favorable for manufacturers," said Fedorov.
