Firm Seeks To Commercialize Defense Innovations
ABERDEEN, Md.(AP) — A Boston-based investment firm says it has reached agreements aimed at commercializing innovations from four Defense Department laboratories.
Privately held Allied Minds said Wednesday that the deals are with the Army’s Research, Development and Engineering Command at Aberdeen Proving Ground; the Edgewood Chemical Biological Center at Aberdeen; the Naval Surface Warfare Center’s Crane Division in Crane, Ind.; and the Aerospace Corp. in El Segundo, Calif.
The company says it’s the first time these laboratories have partnered with a private investment firm to bring products to market.
Allied Minds says it’s prepared to invest $100 million in the ventures. It says it expects to create 20 companies in the first year alone.
It says the projects include technologies to alleviate wireless data congestion and increase internet security.
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