Taking a risk on emerging defense technologies has long been avoided by the private sector. Not anymore. American venture capital and private equity firms, spurred into action by rising geopolitical tensions and the Pentagon’s push to modernize its arsenal, have increasingly been pumping money into the defense tech sector. Venture Capital has invested nearly $130 billion into defense tech since 2021, a striking 145% increase from 2017-2020.
Emerging defense tech startups have been driving innovative advancements in space, drone and microelectronics technologies alongside pioneering capabilities in advance computing, cybersecurity and artificial intelligence. By outcompeting defense titans like Lockheed Martin and RTX in securing government contracts, breakout startups like Anduril Industries and Palantir Technologies have revealed the immense potential offered by backing this new wave of defense tech innovation. Private firms, investing in what some are now calling “Defense Tech Revolution”, have the potential to bolster global security in the 21st century.
The defense tech investment landscape is increasingly pivotal as America navigates a threat environment more complex and volatile than any seen since the Cold War. Just as venture capital and private equity have recognized the immense potential of emerging technologies, state and non-state actors are rapidly advancing tech-enabled weaponry and targeting global commons, including maritime domains, outer space, and cyberspace. In response to these emerging threats, the Midwest, with its innovative spirit and robust industrial base, offers unique and enduring solutions. Leveraging our Indianapolis roots and extensive connections, we believe that investing in defense technologies from this region is not only crucial for national security but also represents a strategic opportunity to lead in the Defense Tech Revolution. By supporting local tech advancements, we aim to contribute to creating cutting-edge defenses that counter sophisticated threats while fostering regional economic growth.
Commonwealth’s think tank partner, Sagamore Institute, operates a defense strategies team featuring former Director of National Intelligence Dan Coats, for congressman Mike Gallagher and retired Navy Captain Dr. Jerry Hendrix.
The Sagamore National Security Conference is unique in its location and composition. The Midwest is known for its advanced manufacturing capabilities and the University of Notre Dame is a leading research institution developing new technologies and the next generation of leaders to shape the future of global security. The Midwest is also known for its practicality and commitment to service. The Sagamore National Security Conference will feature prominent experts and leaders who recognize the importance of the Midwest to national security and who are committed to collaborative solutions to our most pressing problems
Led by former US Rep. Mike Gallagher, the Midwest Defense Forum will pursue a tripartite agenda: to heighten the use of technology to help America gain competitive advantage on the battlefield; to strengthen the upper Midwest economy by growing the defense tech sector; and by educating citizens on the principles of Western Civilization and the free societies that it fosters.
Dr. Hendrix joins the Sagamore Institute with the expectation of continuing to approach the nation’s defense challenges with the solid pragmatic outlook of a native Hoosier farmer, which he proudly is.
Senior Fellow Alan Dowd writes at the intersection of faith, national security and diplomacy for the journal Providence.
Senior Fellow Joe Loconte delivered a landmark talk titled “Western Civilization: Is It Worth Defending?”
Commonwealth harnesses entrepreneurial talent to create more opportunities for everyone to flourish.
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