MITS Defense Accelerator has made its first $200,000 investment in Ukrainian Defense Tech startups since the launch in February 2024.
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The recently launched international MITS Defense Accelerator has invested $200,000 each in several Ukrainian Defense Tech startups - a direct investment of $100,000 and another $100,000 in expertise provided in partnership with American University of Kyiv, Forbes Ukraine reports.
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The program involved teams developing secure communication systems for drones, AI-based wearable detectors and drone jammers, and visual positioning systems for use in the absence, jamming, or damage of GPS signals.
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The program also included a team that manufactures engines for drones. After completing the first program, MITS will announce the second batch.
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The exact names of the startups are left undisclosed.
About MITS
The Ukrainian team, together with American partners, announced the launch of MITS in February this year, a 15-week program. The founders are a group of American investors with significant experience in defence and investment, led by Perry Boyle.
The Board of Advisors includes Dr. Philip Karber, former Strategic Advisor to the US Secretary of Defense, NATO Secretary General and governments, and Ernest Herold, former Deputy Assistant Secretary General for Defense Investment at NATO.
