A defense startup accelerator launched by MITS and American University Kyiv has completed its first program for Ukrainian mil-tech startups, providing participants $200,000 each. The direct investment by MITS in each of the program’s participants is $100,000. Another $100,000 in value, MITS estimates, comes from its expertise, provided in partnership with American University Kyiv.
The MITS supervisory board includes former NATO officials and specialists from the Lockheed Martin company, which produces HIMARS artillery systems. The accelerator was launched in February 2024, and the program lasted 15 weeks. It involved teams developing secure communications systems for drones, portable AI-based drone detection and jamming, visual positioning systems for use in the absence of or for the jamming of GPS signals, and drone engine manufacturers.
After completing the first acceleration program, MITS will announce the second recruitment. The founders of the MITS accelerator are a group of American investors with $50M target fund.