Venture Capital and Human Capital Patterns in Dual Use Hardware Startups in the United States and United Kingdom

With the prospect of a near peer competitor, the United States (U.S.) government has started to reevaluate its strategy on how to best integrate technology into the government. Part of this reevaluation has included shifting their technology strategy from large private sector defense behemoths to entrepreneurial startups with dual use technology. To identify what patterns exist for dual use hardware startups, I divide my analysis into two pieces: people and money. I study the financing models of ten early-stage dual use technology companies in strategically important industries. I look closely at where the startups seek funding: federal grant money, private sector venture capital funds, or other financing options. I also study key employees associated with the companies to understand the academic backgrounds and professional experiences of the Chief Executive Officer and Chief Technology Officer who likely influence strategic decisions. To provide a comparison, I identified the twin pairs of each company in the United Kingdom (U.K.) and examined their funding patterns and employee characteristics to see what differences exist between the U.S. and U.K.S.M