Lockheed Martin Announces $100 Million Venture Fund Increase
by Staff Writers
Bethesda, MD (SPX) Jun 08, 2018
Lockheed Martin announced the doubling of its venture capital fund to $200 million and recent investments in early-stage companies focused in the areas of autonomy and advanced manufacturing.
"Our focus is on finding and investing in companies developing cutting-edge technologies that will grow our business and disrupt our industry," said Chris Moran, vice president and general manager of Lockheed Martin Ventures.
"We're developing long-term strategic partnerships with companies and helping them navigate through the early stages of product development while leveraging our decades of experience working with government customers."
Enabled by tax reform legislation, Lockheed Martin Ventures is focusing the additional $100 million on early-stage companies in the areas of sensor technologies, autonomy, artificial intelligence and cyber.
With the fund's latest investment, Lockheed Martin expanded its relationship with nTopology, creator of ELEMENT, an emerging software technology in the high-growth additive and advanced manufacturing sectors.
"Our investment in nTopology will bring strategic advantages in Lockheed Martin's computational design processes and help shorten the periods between the design and manufacturing phase," said Moran.
The increase in the venture fund is part of $460 million that Lockheed Martin is investing as a direct result of tax reform savings. The tax reform legislation enables Lockheed Martin to make investments that improve its global competitiveness, including investing in transformative technologies that will bring lasting benefits to customers, employees and communities.
The company is making additional investments enabled by tax reform savings, including:
+ $200 million additional investments in capital expenditures and research and development in 2018
+ $100 million in employee training and educational opportunities over the next five years
+ $50 million investment in science, technology, engineering and math (STEM) education enrichment, including the establishment of a new Lockheed Martin STEM Scholarship Fund
+ $10 million for the launch of the Lockheed Martin Innovation Prize competition
More details of Lockheed Martin's investments enabled by tax reform legislation can be found here.
NASA Selects Small Business Technology Awards
Pasadena CA (JPL) May 31, 2018
NASA has selected 304 proposals from U.S. small businesses to advance research and technology in Phase I of its 2018 Small Business Innovation Research (SBIR) program and 44 proposals for the Small Business Technology Transfer (STTR) program, totaling $43.5 million in awards. These selections support NASA's future space exploration missions, while also benefiting the U.S. economy. NASA's Jet Propulsion Laboratory in Pasadena, California, will manage 45 SBIR and four STTR awards, totaling $6.125 mi ... read more
|The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.