The UK is seeking to attract private capital to boost British defense startups with a series of “Dragons’ Den”-style events amid worries about how quickly the government will follow through on its own funding pledges.
Defence Secretary John Healey said he is looking at a range of options to encourage private investment even as he promises to increase defense spending to 2.6% of economic output by 2027. Healey said the industry has been too focused on public spending in the past and that combining private and government investment is necessary to rebuild Britain’s defense sector.