The Silicon Valley Defense Group has called on Congress to include in the fiscal year 2024 defense appropriations bill a provision that would designate $1 billion in funding to the Defense Innovation Unit to support the establishment of a hedge portfolio, dubbed the Non-Traditional Innovation Fielding Enterprise.
“Additional funding provided by the NIFE would enable DIU to accelerate fielding of innovative capabilities to the services and the combatant commands at speed of relevance,” SVDG wrote in a Tuesday letter to congressional leaders.
The nonprofit organization also commended the inclusion in the House-passed FY 2024 National Defense Authorization Act provisions that would authorize NIFE, codify the authorities and raise the reporting structure of DIU.
According to SVDG, such provisions will enable the Department of Defense to further leverage the technological capabilities that commercial companies and non-traditional contractors offer to support warfighters.
Over 60 technology companies and venture capital firms cosigned the letter.
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