12-03-2022 8:02am

Statement from SBA Administrator Isabella Casillas Guzman on the U.S. Department of Defense's New Office of Strategic Capital

Anita Johnson-Brown Editor

On December 2, Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice in President Biden's Cabinet for America's 33 million small businesses, issued the following statement regarding the recent announcement by the Department of Defense (DoD) on the creation of the Office of Strategic Capital (OSC):

"The U.S. Small Business Administration and the Department of Defense have a long history of working together to deliver billions of dollars of funding to advance entrepreneurial R&D and commercialization efforts vital to our national security. DoD's creation of the Office of Strategic Capital marks a significant milestone in the Biden-Harris Administration's investment in critical technologies that drive innovation, power our nation's technological leadership, and strengthen our national security.

"This new mission-driven office will continue to build and align incentives for private investment in innovators who are producing frontier technologies that advance America's security and economic competitiveness. SBA and DoD are aligned in our mission of growing private capital investment in emerging and critical technologies. We look forward to working with DoD's Office of Strategic Capital through a new SBA-DoD partnership, which we will be announcing at the Reagan National Defense Forum."