The Department of Defense’s (DoD) Office of Strategic Capital (OSC) on Sept. 30 announced a notice of funding availability – totaling up to $984 million in loans – to accelerate commercialization and scale production for critical technologies.
This is OSC’s first Notice of Funding Availability (NOFA), which lays out eligibility criteria and initiates the application process for OSC loans.
According to Deputy Secretary of Defense Kathleen Hick, this NOFA establishes OSC “as a credible lending partner for U.S.-based companies that manufacture and produce critical technology components.”
“This demonstrates that DoD is dedicated to using every tool in our toolbox to secure America’s and our military’s enduring technological advantage,” Hicks said.
This will be the first OSC application call to accelerate commercialization and scale production for critical technologies.
The NOFA will provide funding for companies’ equipment needs to support scaling production in the 31 technology categories deemed promising critical technologies and assets in the National Defense Authorization Act for Fiscal Year 2024.
Covered technology categories include cybersecurity, data fabric, autonomous mobile robots, microelectronics. quantum, space-enabled services and equipment, OpenRAN, and more.
“By setting forth eligibility requirements and the application process, the NOFA ensures that companies are fully prepared to apply for OSC financing,” according to DoD’s announcement.
The NOFA application process consists of two stages. The first part is designed to validate eligibility and assess project or transaction suitability. Applicants may submit Part 1 starting Jan. 2, 2025, with a deadline of Feb. 3, 2025.
Following the review of Part 1, OSC will invite selected applicants to complete Application Part 2.
