Santos says first Trusted Capital event will lead to 'many more' next year

By Marjorie Censer / November 20, 2019 at 3:54 PM

The Pentagon last week hosted its first Trusted Capital event, focused on drones, at Texas A&M University, according to a top DOD official.

The Trusted Capital concept is focused on connecting small technology firms critical to national defense with trusted sources of private capital, rather than investors connected to the Chinese government or other risky sources.

Speaking at a Baird conference today, Jennifer Santos, deputy assistant secretary of defense for industrial policy, said the event was the first in a series.

"Next year, we will host many, many more," she said, though she noted it is too early for her to unveil the next one.

Additionally, Santos said she is expecting 25 more presidential directives focused on vulnerabilities in the defense industry.

Already, President Trump has released more than a dozen, she said. In June for instance, he issued a presidential determination authorizing the use of Defense Production Act Title III authorities to strengthen the domestic industrial base for the production of small unmanned aerial systems, while in July he issued five determinations relying on the same authorities, but focused on rare earth elements.

"Each one identifies a very critical gap," Santos said.

205551