Round Table Series | Investing in Security: Stimultaing Innovation
Date: 18 April, 2017
Round Table Series
INVESTING IN SECURITY:
Brussels, ATA Headquarters, 19 April 2017
ATLANTIC TREATY ASSOCIATION
In cooperation with
NATO DEFENCE INVESTMENT DIVISION
Following the Warsaw Summit, NATO Allies continued their commitment to raise defense expenditures to meet NATO’s 2% + 20% Guidelines within a decade and reaffirmed the importance of improving its defence capabilities with an emphasis on innovation. As of February 2017, NATO Allies have increased their defense expenditures by 3.8%, equating to more than $10 billion USD, although much work remains to be done, particularly regarding innovation in the defense sector.
Similarly, the European Union’s Global Strategy proposed €90 million EUR over the next 3 years for research and technology. As research and procurement budgets continue to increase, organizations like NATO and the EU must expand their cooperation with industry beyond the traditional defense sector while encouraging engagement with small and medium enterprises to stimulate greater innovation and maximize the efficiency of Euro-Atlantic defence spending.
This first Round Table addressed the need for greater cooperation among NATO, NATO Support & Procurement Agency (NSPA), Defence Industries and Small and Medium Enterprises (SMEs) to stimulate more innovation and maximize the efficiency of the Euro-Atlantic defence spending.
These Round Table Series on Defence Spending were launched to create a unique environment where representatives can address challenges and explore opportunities for a stronger engagement. The goals of the 2017 edition is to discuss how to better coordinate investments in innovation with an emphasis towards creating a faster process of acquisition and procurement, pool innovative practices on research and development, and stimulate stronger cooperation.