UK firms pitch future tech in MoD Dragons' Den event
Image by Willie Barton / copyright Shutterstock
The high-impact event for matching UK defence and dual-use technology innovators with private investors, aimed to drive defence as an engine for growth, delivering on commitments in the Strategic Defence Review and Defence Industrial Strategy published last year.
The day centred on a pitching session modelled on the popular television format Dragons’ Den. Ten innovative UK small and medium sized enterprises (SMEs), selected for their dual-use technologies – innovations with both civilian and military applications – pitched their capabilities to more than 100 people, including venture capitalists, institutional investors and defence stakeholders looking to back breakthrough technologies.
Events like this show how the MoD can be a bridge between promising defence SMEs and private capital, to deliver the defence dividend in every corner of the country and ensure that the UK is at the leading edge of innovation in NATO. It is part of wider work to ensure defence SMEs can access the capital that could see them expand into new and international markets.
The event is part of defence’s focus on ensuring the largest sustained increase in defence spending since the end of the Cold War – hitting 2.6% of GDP from 2027 – drives good jobs and growth in every corner of the nation.
Defence Secretary, John Healey MP said: "This government is backing British jobs, British industry and British innovators, and we want this to be the best place in the world to start and grow a defence business.
" We are matching our world-leading innovators with the private financers who, alongside government, will help to take the next generation of warfighting technology from the drawing board to the frontline to boost our national security."
Rupert Pearce, National Armaments Director said: "UK SMEs are a powerful force at the heart of the UK defence industry. They have the energy, agility and risk appetite to drive innovation and create novel technology that strengthens our security and benefits our society."
As part of the event, sessions were held by the Defence Office for Small Business Growth – launched by Minister Pollard in Scotland last week – to address the common difficulties SMEs face in securing sufficient funding and navigating procurement pathways.
Last month, the Ministry of Defence also announced a new business centre will open in Kyiv this year to ensure Britain’s cutting-edge defence industry and innovators can step up their work to equip Ukraine’s Armed Forces in their fight against Putin’s illegal invasion. Backed by three years of UK Government funding, the facility will help deliver good jobs across the UK by opening up new markets, for small and medium sized businesses.
Background
The Defence and Dual Use Technology Showcase was held at business advisory firm Grant Thornton UK. It took place following commitments in the Strategic Defence Review (SDR) and Defence Industrial Strategy to unlock billions in private investment and simplify procurement pathways.
It is one element of the MoD’s SME engagement strategy, which also includes:
- The Defence Office for Small Business Growth – Established in January, made up of policy and commercial expert staff who will support small and medium UK firms to bid for and win more defence contracts.
- More investment into UK SMEs - UK SMEs saw £1.2 billion of direct investment from the MoD in 2024/25. To ensure defence is an engine for growth, the Government has set an SME spend target of an additional £2.5 billion through to May 2028, taking total MOD spending with SMEs to £7.5 billion.
- Online Export Faculty – A free online resource specifically designed to support UK SMEs in the defence and dual use sectors.
- SME Surgery Programme – The SME Export Faculty runs regular SME surgeries, from Cardiff to Edinburgh, Newcastle to Belfast, meeting SMEs where they are to offer bespoke advice to help them achieve their growth ambitions through exports. Since May 2024, the Surgeries have supported over 1,000 British SMEs supplementing the online offering.
