Larsen and Kim | U.S. involvement in NATO Innovation Fund will strengthen NATO defense and security

Bill authorizes U.S. to contribute up to $200 million to NIF over 10 years

||| FROM THE OFFICE OF REP. RICK LARSEN |||

WASHINGTON, D.C. – Today, Reps. Rick Larsen (WA-02) and Andy Kim (NJ-03) introduced a bill authorizing the United States to participate in and contribute up to $200 million over 10 years to the NATO Innovation Fund (NIF), which plays a crucial role in fostering innovation and collaboration across the alliance to strengthen NATO defense and security and enhance resilience against strategic competitors.

Larsen and Kim supported a similar provision in the House-passed Fiscal Year 2025 National Defense Authorization Act (NDAA).

“U.S. leadership in NATO makes America safer and stronger. By participating in NIF, the U.S. can lead the way in driving innovation and creating jobs at home while strengthening the alliance’s defense missions and security and preparing for the challenges posed by would-be adversaries around the globe,” said Larsen, a member of the NATO Parliamentary Assembly who will soon participate in NATO PA’s 70th Annual Session in Montreal, Canada.

“As new technologies change daily life and the security landscape, we see how important it is for our nation to keep up with an ever changing world,” said Congressman Kim. “The NATO Innovation Fund creates critical opportunities for cooperation and strategic investments into cutting-edge technology and innovation with our allies and partners. This bill would not only help bolster our nation’s defense, global partnerships, and spur economic opportunity, but tells our closest allies we are prepared to take on these challenges and opportunities by their side.”

Why the NATO Innovation Fund is Important

Founded in 2023, the NATO Innovation Fund (NIF) invests in cutting-edge science and technology startups across various sectors, including quantum sciences, artificial intelligence (AI) and biotechnology, to accelerate the adoption of emerging technology solutions for national security applications. By participating in NIF, the U.S. can help shape the fund’s investment decisions, open opportunities for economic growth and create new opportunities with allies and partners. In addition, by authorizing this contribution, U.S. startup companies will have access to the NIF’s venture capital funds. As of November 2024, 24 of 32 NATO allies have committed more than $1 billion in capital to the NIF.