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Though venture capitalists have invested heavily into defense startups and these companies have expressed interest in pursuing more government contracts, these companies have not yet captured the attention of the Department of Defense. Defense spending trends continue to reflect a strong preference for more established contractors as in fiscal year 2023, startups only accounted for 1 percent of the $411 billion in contracts issued by the DOD.
MoreHawk Carlisle, president and CEO of the National Defense Industrial Association, wrote in an article published Monday in National Defense magazine that NDIA gives the defense industrial base a score of 75 and a C rating in the “Vital Signs 2021" report set to be released in December. Carlisle said the score indicates that the defense industrial base continues to face a challenging environment amid the COVID19 pandemic.
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