As a February report from McKinsey & Co. observed: “The defense ecosystem today is at a critical junction, ripe with opportunity for private capital, the traditional defense industrial base and other commercial players such as hyperscalers to take critical roles in leading disruption within the innovation pipeline.”

Geopolitical shifts are reinforcing the urgency. As the Trump administration attempts to recast the United States’ role in NATO and broker a peace deal with Russia, European governments are also planning to upgrade their defense spending. Even as some signs are emerging that a ceasefire may emerge between Russia and Ukraine, Europe is looking to boost its share of spending on defense. In particular, governments are establishing funding resources for dual-use technology startups.

Dual-use technologies are innovations, systems or products that can be applied in both military/defense settings and civilian/commercial markets. These technologies are de