A new law allows Pentagon to become venture capitalist to support domestic firms deemed vital to national security
But instead of someone from the private sector, Crowley managed to tap a totally unexpected source of funds: the Department of Defense (DOD). What's more, the money came not in the form of a traditional research-and-development grant but as a direct investment that could, if Crowley's company takes off, actually yield a profit for the Pentagon.
The novel agreement is between Gazelle and the Defense Advanced Research Projects Agency, or DARPA, the Pentagon's R&D arm. It was made possible by an experimental program passed by Congress last year that allows...
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