Dronemakers, defense startups to get rapid funding under EU plans

BRUSSELS (AFP) — The EU put forward plans to fund startups developing drones and other defense innovations at “record speed” Wednesday, as the bloc races to rearm and boost its military sector.

The European Commission said it will make available 115 million euros ($133 million) to small and medium European defense companies under a new funding tool dubbed “Agile.”

The pilot aims to finance up to 30 projects from 2027, slashing grant-approval times to under four months to have new technologies ready for armed forces within three years, Brussels said.

“We want to create a culture of rapid doing,” said Henna Virkkunen, EU commissioner for tech and security.

The war in Ukraine has shown the importance of developing and deploying new, cost-efficient weapons fast, the commission said.

Kyiv’s ability to field cheap but effective battlefield tech like electronic jammers and interceptor drones, to counter Russia’s invasion has shaken up a sector long known for its lengthy development times.

But defense startups in Europe — which have boosted military spending in the face of a hostile Russia and wavering U.S. security commitment — have in the past lamented difficulties in securing investments.

The commission said the funding will go towards companies working on “disruptive defense innovations” such as “artificial intelligence, quantum and drones.”

Ukrainian firms will be eligible to receive the money alongside competitors from the EU’s 27 nations as well as Iceland, Liechtenstein, Norway and Switzerland.

The plan needs to be approved by the European Parliament and member states.

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By Agence France-Presse