National · Poland · PFR Ventures (Polish Development Fund Group), with the Ministry of Finance
A fund-of-funds programme run by PFR Ventures that allocates PLN 600 million to 3-5 specialised VC funds investing in advanced technologies, with explicit priority for dual-use (civilian and military) potential and sectors including AI, defence, robotics, cybersecurity, quantum and space. Capital is expected to reach 50-80 companies; selected funds must commit a Polish-nexus allocation at least equal to PFR's contribution. The first investment from the programme was EUR 30 million into the Expeditions II fund.
The main national equity channel for dual-use and defence-adjacent startups: raising from a PFR Deep Tech-backed fund brings state-anchored capital without a grant process. PFR Ventures also invests in the NATO Innovation Fund on Poland's behalf, widening the same ecosystem.
Danish Ministry of Defence / Danish Ministry of Defence Acquisition and Logistics Organisation (FMI/DALO)
The single largest pot of near-term Danish defence procurement money, with an explicit invitation for industry to propose what to buy. Speed to fielding is the main selection criterion.
German Federal Government (BMVg and BMI)
One of very few German vehicles paying companies directly for security and defence-relevant research, with multi-million-euro phased contracts. Procurement-law process means longer lead times; watch the partnering events.
Next deadline 6 Oct
Industrial Development Agency (Agencja Rozwoju Przemysłu S.A.), Polish state development agency
A flexible state lender willing to bank defence-industry companies that commercial banks often avoid, useful for contract financing and liquidity in scaling defence production. No fixed calls: financing is negotiated case by case.