The U.S. Army is launching a series of projects aimed at providing more opportunities for small businesses while supplying next-generation technology to military personnel.
The strategy involves using part of the service’s Small Business Innovation Research and xTech Prime Competition funds, the Army said Friday.
Fifteen percent of the SBIR funding will be dedicated to the SBIR Catalyst program, which will focus on technological development resulting from collaborations with prime contractors, private companies, and venture capital firms.
The service branch will also take advantage of the xTech program to offer cash prizes, incentives and potential follow-on contracts to prime contractors that team up with small businesses to design soldier-friendly and relevant technologies.
“The strength of our nation is rooted in a strong commercial economy comprised of small businesses that are ready, willing and able to help us build an enduring advantage,” said Matthew Willis, director of Army Prize Competitions and Army Applied SBIR Program.
The service will work on the initiatives in the coming year and assess the pilot test in 2024.