Florence Parly, Minister of the Armed Forces, signed the letter of intent this week to create the Defense Innovation Fund (FID), according to a news release. Quantum technology will be one of the types of technologies that will be funded through the FID.
According to the release: this fund will be operated by BPI France. The FID will acquire stakes in innovative companies in the growth phase, start-ups, small and medium-sized enterprises (SMEs) and medium-sized enterprises (ETI) developing dual and transversal technologies of interest to the world of defense.
The Ministry of the Armed Forces will contribute 200 million euros. The FID will also be able to reach 400 million euros by counting on the contribution of other investors (industrialists). It spans a period of six years.
The Defense Innovation Fund (FID) is part of a global innovation development strategy and is articulated with the innovation support mechanisms, based on public contracts or on subsidies, implemented by the Management General of Armaments (DGA) and the Defense Innovation Agency (AID). In addition to quantum technologies, it is particularly dedicated to the development of dual and transversal technologies, such as energy, artificial intelligence, electronics and components, health and materials.
FID investments will be made in a privileged manner in companies in the growth phase or, more upstream, in the start-up or acceleration phase on an exceptional basis.
The FID complements the DEFINVEST fund, another investment fund of the Ministry of the Armed Forces, mainly reserved for the capital financing of small and medium-sized enterprises whose know-how or developments are strategic for the subcontracting chain of large groups. armament, with the objective of ensuring the sustainability of the industrial and technological defense base.
The FID is structured in its organization with the “French tech sovereignty” component of the Investments for the Future Program (PIA) and provides for a co-investment with BPI on the one hand, and industrialists on the other hand, for a amount of up to 400 million euros.
FID investments will be made in a privileged manner in companies in the growth phase or, more upstream, in the start-up or acceleration phase on an exceptional basis.
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