A group of companies based in Ukraine and the United States has launched Mits, an international accelerator project to support defense technology startups in Ukraine.
According to Mits Capital, the initiative will link small tech companies with international partners to help them develop defense capabilities for immediate use by the Ukrainian military.
Unveiled in Kyiv on Friday, the accelerator will offer startups $100,000 in direct investment and another $100,000 from American University Kyiv.
The support from Mits includes a post-acceleration program to guide selected companies in securing foreign investments and executing expansion projects, Mits Capital said.
Additionally, Mits and American University Kyiv will work with Arizona State University in the United States to implement a business program designed to enhance startups’ products and help them advance their competencies.
The joint effort will train companies on business and production development to help startups successfully deliver on defense contracts.
To begin the process, the accelerator plans to work with teams with an existing minimum viable product on ground robotic systems, unmanned aerial vehicles, unmanned surface vehicles, unmanned underwater vehicles, electronic warfare, communications, optical and acoustic reconnaissance equipment, military transport, mining/demining equipment, software, artificial intelligence and cybersecurity solutions, and ammunition.