- Innovators matched with potential investors in Ministry
of Defence run showcase.
- High-impact pitches delivered by ten pioneering
UK companies.
- More than 100 potential investors in the audience, ready to
back breakthrough technology.
Pioneering defence firms have pitched their innovations directly
to major investors in a first-of-its-kind Dragons'
Den-style event, set up by the Ministry of Defence.
The high-impact event for matching UK defence and dual-use
technology innovators with private investors, aimed to drive
defence as an engine for growth, delivering on commitments in the
Strategic Defence Review and Defence Industrial Strategy
published last year.
The day centred on a pitching session modelled on the
popular television format Dragons'
Den. Ten innovative UK small and medium sized
enterprises (SMEs), selected for their dual-use
technologies - innovations with both civilian and
military applications – pitched their capabilities tomore than
100 people, including venture capitalists,
institutional investors, and defence stakeholders
looking to back breakthrough technologies.
Events like this show how the MOD can be a bridge between
promising defence SMEs and private capital, to deliver the
defence dividend in every corner of the country and ensure that
the UK is at the leading edge of innovation in NATO. It is part
of wider work to ensure defence SMEs can access the capital that
could see them expand into new and international markets.
The event is part of defence's focus on ensuring the largest
sustained increase in defence spending since the end of the Cold
War – hitting 2.6% of GDP from 2027 – drives good jobs and growth
in every corner of the nation.
Defence Secretary, MP said:
“This government is backing British jobs, British industry and
British innovators, and we want this to be the best place in the
world to start and grow a defence business.
“We are matching our world-leading innovators with the investors
who, alongside government, will help to take the next generation
of warfighting technology from the drawing board to the frontline
to boost our national security.”
Rupert Pearce,
National Armaments Director said:
“UK SMEs are a powerful force at the heart of the UK defence
industry. They have the energy, agility and risk
appetite to drive innovation and create novel technology that
strengthens our security and benefits our
society.”
As part of the event, sessions were held by the Defence Office
for Small Business Growth – launched by Minister Pollard in
Scotland last week – to address the common difficulties SMEs face
in securing sufficient funding and navigating procurement
pathways.
Last month, the Ministry of Defence also announced a new business
centre will open in Kyiv this year to
ensure Britain's cutting-edge defence industry and
innovators can step up their work
to equip Ukraine's Armed Forces in
their fight against Putin's illegal invasion.
Backed by three years of UK Government funding, the facility will
help deliver good jobs across the UK by opening
up new markets, for small and medium sized
businesses.
ENDS
Notes to Editors
The Defence and Dual Use Technology Showcase was held at
business advisory firm Grant Thornton UK. It took place
following commitments in the Strategic Defence Review (SDR) and
Defence Industrial Strategy to unlock billions in private
investment and simplify procurement pathways.
It is one element of the MOD's SME engagement strategy,
which also includes:
- The Defence Office for Small Business Growth –
Established in January, made up of policy and commercial expert
staff who will support small and medium UK firms to bid for and
win more defence contracts.
- More investment into UK SMEs - UK SMEs saw £1.2 billion
of direct investment from the MOD in 2024/25. To ensure defence
is an engine for growth, the Government has set an SME spend
target of an additional £2.5 billion through to May
2028, taking total MOD spending with SMEs to £7.5 billion.
- Online Export Faculty – A free online resource
specifically designed to support UK SMEs in
the defence and dual use sectors.
- SME Surgery Programme – The SME Export Faculty runs regular
SME surgeries, from Cardiff to Edinburgh, Newcastle to Belfast,
meeting SMEs where they are to offer bespoke advice to help them
achieve their growth ambitions through exports. Since May 2024,
the Surgeries have supported over 1,000 British SMEs
supplementing the online offering.
