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WHAT: The U.S. Department of Defense (DOD) has established a new voluntary program designed to match critical technology companies with vetted sources of private capital.
WHEN: On December 1, 2020, DOD issued a Request for Comment on the Trusted Capital initiative; comments are due February 1, 2021. On January 13, 2021, DOD formally announced the establishment of the Trusted Capital Digital Marketplace.
WHAT DOES IT MEAN FOR INDUSTRY: Companies in the Defense Industrial Base (DIB) seeking investments may consider this initiative to gain access to vetted sources of capital and potentially lessen the risk of a transaction drawing scrutiny from U.S. regulators in the context of foreign investment reviews and other related processes.
On Wednesday, Indiana blockchain startup SIMBA Chain announced that it has received a $1.5 million Phase II contract from the U.S. Office of Navy Research (under the Small Business Innovation Research program to stimulate federal R&D projects with commercial potential). SIMBA Chain has been tasked to design and build a blockchain-based demand sensing solution for the Defense Logistics Agency, which provides combat support and supply chain management for the U.S. Department of Defense.
Demand sensing is a forecasting technology used across industry verticals, but which in the U.S. military context is used to ensure availability of replacement parts for weapons.
The Defense Department s top buyer, Ellen Lord, said the incoming Biden administration will have to contend with adversarial investments and cybersecurity weaknesses in the contractor base.