美国防部战略资本办公室2024投资战略

U.S. Department of DefenseFiscal Year 2024INVESTMENT STRATEGYFOR THE OFFICE OF STRATEGIC CAPITALDistribution Statement A. Approved for public release: distribution is unlimited. This page intentionally left blank iFY2024 Investment Strategy for the Office of Strategic CapitalUnited States Department of DefenseForewordThe United States is in a global competition for leadership in critical technologies. Today, private capital finances the significant majority of the critical technology and supply chains needed by the Department of Defense. Consequently, private capital is a vital resource for the Department and a key source of U.S. comparative advantage in technology competition. Therefore, working with capital providers is a national security imperative.I established the Office of Strategic Capital in December 2022 to work with private capital providers to build enduring national security advantages. This office will attract private sector investment in critical technology areas and supply chains that support national security to ensure that technology developed in America benefits America. By partnering with our federal colleagues to work with capital providers, the Office of Strategic Capital will add tools to the Department of Defense’s investment toolbox. The Office of Strategic Capital will also work in concert with our allies and partners to enable production and sustainment. OSC is a crucial element of ongoing Department of Defense efforts to support resilient, diverse supply chains. Through OSC, the Department of Defense will engage with and enhance the United States’ significant national advantages in capital markets, technology development, and commitment to market competition. In contrast to global competitors that coerce and control investors and companies, the United States has an unmatched ability to invite and empower those who seek to contribute to our shared security. This Investment Strategy for the Office of Strategic Capital describes new ways that the Department of Defense will work with capital providers and companies to strengthen critical supply chains for national security. Together, we can work towards ensuring that the United States maintains its technological advantages.SEALDEPARTMENT OF DEFENSELloyd J. Austin III Secretary of Defense iiFY2024 Investment Strategy for the Office of Strategic CapitalUnited States Department of DefenseContents1 Executive Summary2 Overview and Mission of the Office of Strategic Capital4 Guiding Critical Technology Framework for the Investment Strategy for the Office of Strategic Capital8 Investment Prioritization Approach10 Initial Priority Areas for the First OSC Program Activity: SBIC Critical Technologies Initiative11 Conclusion12 Appendix A: Critical Technology Areas15 Appendix B: Federal Credit Programs16 Appendix C: Methodology 1FY2024 Investment Strategy for the Office of Strategic CapitalUnited States Department of DefenseThis Investment Strategy describes how capital providers and companies can partner with DoD in new ways for both national security and economic security. The public release of the Investment Strategy for the Office of Strategic Capital enables transparency for DoD to openly and ethically engage with public and private sector stakeholders. DoD invites investors and companies to participate in the initial and proposed OSC program activities in the priority areas described in this document. Executive SummaryThe mission of the Office of Strategic Capital (OSC) is to attract and scale private capital to technologies critical to the national security of the United States. OSC’s initial emphasis is on using loans and loan guarantees in partnership with other federal departments and agencies to crowd in capital for component-level technologies. OSC is unique but complementary to existing DoD efforts through the combination of three primary areas of emphasis. While not an exhaustive list, these areas include:1. Components (not capabilities)2. Finance (not innovation)3. Lending (not spending) The Investment Strategy for the Office of Strategic Capital focuses on strategic capital needs where public support is required to attract private investment, especially for critical component technologies not always addressed by direct procurement. Specifically, OSC focuses on component-level technologies with broad commercial application that are also relevant to the national security of the United States and its allies and partners. The financial approaches described here are cost effective and efficient because loans and loan guarantees require repayment from borrowers, minimizing the required amount of federally-appropriated funds. When complemented with private capital, these strategic capital investments will create a multiplier effect for total capital invested in national security interests. New partnerships and approaches will strengthen the diverse, resilient supply chains needed for building and maintaini