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Ministry of Defense Launches 100 Million Euro SecFund for Dutch Startups and SMEs
The Ministry of Defense is taking a bold step towards promoting innovation and economic growth in the Netherlands with the creation of a 100 million euro investment fund, the SecFund. This fund aims to provide financing to Dutch startups, scale-ups, and innovative SMEs that align with Defense’s innovation needs, with a maximum investment of up to 5 million euros per company.
The SecFund is a collaborative effort between the Ministry of Defense, the provinces, the Ministry of Economic Affairs, regional development companies, and industry partners. By joining forces, these entities are working towards enhancing national security, boosting innovative strength, and driving economic growth in the country.
Research by the European Union has shown that innovative companies in the defense sector often face challenges in securing financing, as venture capital investors are hesitant to invest in this industry. The SecFund seeks to address this gap and provide much-needed support to companies in the defense sector.
One key focus of the SecFund will be on dual-use products, which have applications in both civilian and security sectors. Examples of such products include technology for silent installations, LiFi for faster data transmission, and advanced radio technology. By supporting startups and scale-ups in developing these innovative solutions, the SecFund aims to contribute to a safer Netherlands.
The SecFund is a collaboration between the Ministries of Defense and Economic Affairs and the nine regional development companies (ROMs), with national coverage. The fund will be managed by the Brabant Development Company (BOM) in partnership with the other ROMs, and is set to open in January 2025 for interested companies to apply.
Brigit van Dijk-Van de Reijt, general director of the Brabant Development Corporation (BOM), emphasized the importance of this initiative in strengthening strategic autonomy and economic security in the Netherlands. By fostering collaboration between businesses and defense, the SecFund aims to drive long-term economic growth and innovation in the country.
