Israeli defense, finance ministries announce defense-tech capital fund tenders – The Jerusalem Post

Israeli defense, finance ministries announce defense-tech capital fund tenders  The Jerusalem Post

Adir Capital and Sling Capital were announced as tender winners on Tuesday for state-backed venture capital funds specializing in advanced defense technologies, the Defense Ministry and Foreign Ministry announced jointly.The announcement, made by the Finance Ministry Accountant-General's Division and the Directorate of Defense Research and Development (MAFAT), expressed the tender committee's full confidence in the companies regarding how the funding would "achieve significant milestones and foster breakthrough capabilities for the defense establishment and the entire Israeli economy."Adir Capital is a component of Idan Financial Instruments, while Sling Capital is part of Giza.Defense Ministry Director-General Maj.-Gen. (res.) Amir Baram described the funds as marking "a pivotal milestone in realizing the Defense Ministry's strategy to transform Israel's unique ecosystem, which integrates the Defense Ministry and the IDF with defense industries and local entrepreneurship, into a global leader in the defense-tech industry.""After three years of war, we must increase investment in research and development to preserve the defense establishment's qualitative-strategic edge and to develop the next generation of technological 'surprises,'" he added.Accountant-General marks milestone as recognizing defense establishment partnershipAccountant-General Michal Abadi-Boiangiu further marked the milestone as a recognition of the "close and vital collaboration between the Accountant-General's Division and the defense establishment.""We are now seeing this vision become reality," she said.

"Strengthening Israel's technological and industrial independence, supporting local entrepreneurship, and securing critical