MITS launched in Ukraine to support defense tech startups – investing up to $200k
The Ukrainian team, together with American partners, have announced the launch of MITS, Military Innovation Technology Solutions. According to the press release, the program is intended to help Ukrainian defense technology startups find partners, scale up, and offer the best defense technology products to the Armed Forces of Ukraine.
MITS objectives
- To become a driver of Ukraine’s defense tech ecosystem.
- To help young tech companies find partners and scale up.
- To provide the Armed Forces of Ukraine with access to the best defense technology products.
What MITS offers to startups
An investment of $200,000: $100,000 in direct investment in the company and $100,000 in acceleration through the MITS international defense tech accelerator.
A business program developed jointly with American University Kyiv and Arizona State University:
- Business Thinking Development;
- A practical component taking into account the peculiarities of the defense industry, including access to a global network of highly qualified mentors and specialists.
Post-accelerator support:
- Preparation for export;
- Attracting foreign investment;
- Cooperation with the BRAVE1 defense technology cluster and the Ministry of Defense of Ukraine.
Categories of startups supported by MITS:
- Terrestrial robotic systems;
- Unmanned aerial vehicles;
- Unmanned ground vehicles;
- Unmanned underwater vehicles;
- Electronic warfare (EW) equipment;
- Communication, optical and acoustic reconnaissance means;
- Military transport;
- Mine action/de-mining;
- Software and AI;
- Ammunition;
- Equipment of the “soldier of the future”.
Applications for participation in the acceleration are being accepted from February 23 to March 14, 2024 via the link.
The team:
- Founders: a group of U.S. investors with significant defense and investment experience, led by Perry Boyle.
- Supervisory Board: Dr. Philip Karber, former Strategic Advisor to the US Secretary of Defense, NATO Secretary General and governments, and Ernest J. Herold, former Deputy Assistant Secretary General for Defense Investment at NATO.
- Board: David Bonfili, Monique Brown, Anton Melnyk, Alina Lovchynovska.
- Strategic partner: American University of Kyiv.
- Coordinators: Lyudmyla Dolgonovska and Yuriy Bots.