Embedded Ventures has signed a Cooperative Research and Development Agreement (CRADA) with the SpaceWERX office of the US Space Force (USSF).
The CRADA is the first such agreement between a venture capital (VC) firm and the USSF.
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The multi-year agreement was established through the Air Force Research Lab’s (AFRL) Technology Transfer Office in New Mexico.
SpaceWERX is establishing collaborative research agreements with the operational experts of the military and other industry innovators to leverage commercial investment in the space industry.
This research and development (R&D) collaboration between the parties will help promote the growth of the US space industry.
Embedded Ventures co-founder, CEO and general partner Jenna Bryant said: “As the skunkworks of venture capital firms, we knew we wanted to do things differently from the start. We are honoured to partake in the first formal VC partnership with USSF.
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By GlobalData“We’ve been in communication for months, but with this CRADA now in place, we’re thrilled to formally work together to drive success at both organisations.
“This agreement also impacts me on a personal level, as my brother is a Marine Corps V-22 Pilot, and I want to see our soldiers have access to the best private innovation we can find.”
The entities involved in the agreement will jointly investigate the key benefits of leveraging VC investment practices.
Furthermore, the parties will closely examine the business relationships of the USSF industry so as to define future investment methods into the ecosystem of venture capital.
SpaceWERX Director lieutenant colonel Walter McMillan said: “SpaceWERX is excited to formalise this agreement with Embedded Ventures, creating a highly collaborative and efficient workflow between our two groups, while keeping us all accountable.”
