On December 1st, Secretary of Defense Lloyd J. Austin III established the Office of Strategic Capital (OSC), a Department of Defense organization that will help build an enduring technological advantage by partnering with private capital providers.

OSC will connect companies developing critical technologies vital to national security with capital. Critical technologies such as advanced materials, next-generation biotechnology, and quantum science often require long-term financing to bridge the gap between the laboratory and full-scale production, often referred to as the “Valley of Death” in industry.