U.S. Space Force collaborates with Embedded Ventures to expand R&D

The U.S. Space Force’s SpaceWERX office has collaborated with venture capital (VC) firm, Embedded Ventures to expand research and development (R&D) possibilities that can boost the domestic space economy and be utilized to protect the country's interests.

As per reports, this is for the first time that the Space Force has entered into an agreement on R&D like this, known as a Cooperative Research and Development Agreement (CRADA), with a V.C. firm.

It implies that the U.S. government is looking forward to benefiting from the venture capital's funding and practice model.

CRADAs are typically used among the U.S. Department of Defense (DOD) and startups who collaborate with the government.

According to Jenna Bryant, embedded co-founder, the idea to seek CRADA was suggested by Mandy Vaughn, who recently joined the fund as an operating partner.

While Embedded co-founder, Jordan Noone says that there are multiple missed opportunities on both sides of venture capital and the DOD, and this partnership could help improve on it.

For one factor, venture capital may move considerably faster than public entities. VCs also have been seeking to look for new and developing technologies that might assist defense interests.

It is expected that this partnership could benefit startups in the long run. Working with the U.S. government is a complicated, intimidating process. Many new companies associate this with long contractual timelines or exceedingly delimited processes.

Elaborating on the partnership, Embedded Ventures and the U.S. Space Force will meet regularly to discuss the progress and to set benchmarks through there agreement.

This being a first of a kind partnership under the CRADA program, part of the agreement’s goal is to define what a successful partnership looks like, so that it can be repeated in the future.

Source Credit - https://techcrunch.com/2021/10/13/u-s-space-force-partners-with-vc-firm-embedded-ventures-under-new-rd-agreement/