Techstars Central, a US venture capital firm, has launched an investment programme in Adelaide, South Australia, to support the development of local defence and security firms, it was announced on 9 January.
The company said its 'technology accelerator' programme seeks to provide investment for local firms as they develop technologies in support of major defence groups operating in Australia including ASC, Austal, BAE Systems, DCNS, Rheinmetall, Saab, and Thales.
The three-month programme will provide 10 selected start-up companies with funding of around USD120,000 in exchange for a portion of equity. The programme also provides the companies with assistance, advice, and access to Tier 1 manufacturers.
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