Allied Minds, a Boston-based investment firm, has reached agreements with several U.S. Department of Defense (DoD) research laboratories in a wide-ranging technology transfer strategy intended to spur economic growth through the commercialization of military innovations.
According to the company, the public-private partnerships will go beyond the scope of traditional commercialization agreements, in which government agencies typically pair with a firm for the purpose of developing a single, specialized product or service. Instead, the contracts will be tailored to encourage continuous growth for the newly established entities.
"Federal research labs have long been a rich source of invention and innovation, and we believe that their intellectual output represents an underutilized national asset," said Allied Minds CEO Chris Silva. "Through our unique collaboration with these research facilities, [Allied Minds Federal Innovations] will facilitate the successful transfer of new technologies to the commercial marketplace, keeping the U.S at the forefront of technological innovation."
Allied Minds will begin this venture with an initial investment of $100 million and the goal of establishing 20 new companies within the first year of the program. Considering the range of specializations on display from the federal laboratories that have already signed on for the initiative, future innovations could take the shape of anything from robotic aides to alternative fuels.