World News

NATO announces $1B fund to back startups supporting ‘safety, freedom and human empowerment’ on August 1, 2023 at 7:53 am

Published

2 years ago

August 1, 2023

Member nations are collectively committing capital totalling €1 billion (around $1 billion at current rates) to the NATO Innovation Fund, which plans to make both direct investments in startups, as well as indirect investments in other funds that in turn back startups focused on emerging and disruptive technologies that are “responsible and led by fundamental principles: safety, freedom, and human empowerment.” Areas of focus will include AI and autonomy, biotechnology, quantum computing, space technology and hypersonic systems, energy, new manufacturing and materials, and next-generation communications.

Modelled somewhat on In-Q-Tel in the U.S., the idea will be to keep the investments strategic, with some (but maybe not all) investments leading to services that its member states, or NATO itself, might use. The NIF will look mainly at early stage investments — that is from pre-seed through to Series B — and it might also make follow-on investments. Initial checks will be up to €15 million. The first investments will be announced in September, the organization said; none have been made so far.

The aim is to operate NIF like a “classic VC.” That is to say, there will be future funds, and it’s been designed to exist in perpetuity, a spokesperson said.

Many countries have notably set up sovereign funds that back technology startups and investors, both in their own countries and in other geographies and categories viewed as strategic; NATO says that its Innovation Fund will be the “first multi-sovereign venture capital fund,” covering contributions from NATO members.

The 23 countries involved in the first NATO Innovation Fund sub-fund 1 are Belgium; Bulgaria; Czechia; Denmark; Estonia; Finland; Germany; Greece; Hungary; Iceland; Italy; Latvia; Lithuania; Luxembourg; Netherlands; Norway; Poland; Portugal; Romania; Slovakia; Spain; Turkey; United Kingdom. Sweden will also be joining the group following its full accession to NATO, and that will add an additional €40 million into the pot, a spokesperson confirmed.

NATO has long been a player in procurement, but this shifts its focus to working with businesses that might also have an indirect impact on the security postures of its member countries.

That could include cybersecurity, but also deep tech, as well as technologies that can help countries develop better energy or other resource independence.

Priorities like these have become especially stark in recent years. Russia’s invasion and subsequent war in Ukraine has highlighted just how interconnected countries are economically in Europe, and how interrupting production and supply chains in one can have huge, detrimental impacts in others. Similarly, over-dependence on single technology companies for certain services is also especially risky, and so spreading bets and diversifying the markets and putting money into that effort also helps build NATO’s security posture.

At the same time, the adoption of newer technologies and innovations has clearly shaped up as a critical component of how nations — or a consortium of nations — defend themselves in the twenty-first century (and of course nations and states use innovation also for offence, not just defense). Given the role that startups and newer businesses are playing in that innovation economy, NATO taking bigger steps to captalize on that is equally critical right now.

The fund is being set up with a founding team that will take on an executive role, leading on sourcing and making investments. That will be complemented by a board of directors that will have more of a non-executive role, providing advice and helping to steer those decisions. The founding team will include managing partner Andrea Traversone supported by Kelly Chen, Thorsten Claus, Patrick Schneider-Sikorsky and Chris O’Connor. The board will be led by Dr. Klaus Hommels (who founded Lakestar), Dame Fiona Murray and Dr. Roberto Cingolani.

Given the layers of drawn-out bureaucracy — or, in a more charitable light, checks and balances — that NATO has had in place since its inception after World War II, it will be interesting to see how the Innovation Fund operates — and specifically, whether it figures out how to move in a more nimble way to be more responsive to the startup ecosystem.

The “In venture capital, the senior management team are the brains behind investment decisions,” David van Weel, NATO Assistant Secretary General for Emerging Security Challenges, said in a statement provided over email. “I am confident that the NATO Innovation Fund’s Founding Team has the experience, drive and capability necessary to deliver the NIF’s mission.”

Other questions that have yet to be addressed publicly are whether NATO will have any red lines in terms of what kinds of companies it would not back, and whether it will have restrictions on who it would co-invest with, and if so what those might be. Nor is it clear if NATO will be transparent on every investment that it makes, or whether there will be some that remain undisclosed.

Answers to questions we put forward on these subjects might be addressed in the update in September. (Or, they might not.)

The innovation fund is one part of a one-two punch that NATO is making to broker more engagement with startups and innovation-focused businesses in its footprint. It’s also building out the DIANA accelerator to back and work more closely with startups that are building “dual-tech” solutions — those that might have a very direct and obvious application in NATO’s core activities, but also longer term applications that might not.

After announcing plans nearly two years ago, defense alliance NATO has officially closed its first fund to back startups that are building technology strategic to NATO’s own goals in defense and security. Member nations are collectively committing capital totalling €1 billion (around $1 billion at current rates) to the NATO Innovation Fund, which plans to

News

Pope Francis is Now in Stable Condition

Published

2 weeks ago

February 22, 2025

Bolanle Media Staff

Pope Francis, the 88-year-old leader of the Catholic Church, remains in critical condition at Rome’s Gemelli Hospital, where he has been receiving treatment for over a week. The pontiff’s health has taken a turn for the worse, raising concerns among the faithful worldwide.

Current Status

As of Saturday, February 22, 2025, Pope Francis experienced a prolonged asthma-like respiratory crisis that required high-flow oxygen treatment. The Vatican reported that his condition had deteriorated since Friday, emphasizing that “the pope is not out of danger”.

The Holy Father continues to be alert and spent the day in an armchair, although he is experiencing more discomfort than the previous day. His prognosis remains guarded, indicating the seriousness of his condition.

Medical Challenges

Pope Francis is battling a complex set of medical issues:

The pope’s medical team faces the challenge of balancing various medications to combat these issues while monitoring for potential complications, such as sepsis.

Treatment and Outlook

The Vatican has confirmed that Pope Francis will remain hospitalized for at least another week. He is receiving targeted drug therapy and high-flow oxygen as needed. While he is not on a ventilator and can breathe independently, his condition requires close monitoring.

Dr. Luigi Carbone, the pope’s personal physician, stated, “He is not out of danger,” highlighting the delicate nature of the pontiff’s health.

Impact on Vatican Activities

In light of the pope’s condition, all public engagements on his schedule have been suspended through Sunday. The Vatican is carrying on with its Holy Year celebrations without the pope’s presence.

As the Catholic world watches and prays for Pope Francis’s recovery, the Vatican continues to provide updates on his condition. The situation remains fluid, and both positive and negative outcomes are possible given the complexity of the pope’s health issues.

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Business

HRM Queen Shanta Lana Hereford Delivers Powerful Speech on Global Peace

Published

3 weeks ago

February 20, 2025

Bolanle Media Staff

New Delhi, India – February 16, 2025 – Her Royal Majesty Queen Shanta Lana Hereford, a distinguished global leader and advocate for peace and economic empowerment, was a special
guest speaker at an international event hosted by the EurAsia Afro Chamber of Commerce. The
hybrid event, aired live from New Delhi, India, gathered influential leaders, policymakers, and business executives from around the world to discuss global cooperation, economic diplomacy, and sustainable peace.

Queen Shanta delivered a compelling speech titled “Creating a Framework for a Global Peace Charter,” emphasizing the need for a justice-centered, faith-driven approach to global peace. She outlined a transformative vision, calling for governments, businesses, and faith leaders to unite to draft policies integrating equity, economic accountability, and environmental stewardship into global governance.

“The pursuit of peace is not just the absence of war; it is the presence of justice, dignity, and
opportunity for all, ” Queen Shanta stated. “We must move beyond just talking and establish
actionable frameworks that empower nations and communities to achieve lasting prosperity and peace.”

The EurAsia Afro Chamber of Commerce, under the leadership of its founder and chairman, Dr. Rohit Gupta, is dedicated to fostering economic and cultural collaboration between Africa, Asia, and Europe. The organization aims to create a strong, interconnected business network
bridging these regions, facilitating pathways for economic prosperity and diplomatic relations.
As a prolific leader within the African American diaspora and a global advocate for its
advancement, HRM Queen Shanta Lana Hereford is actively exploring opportunities for trade
and commerce between Africa, Asia, Europe, and other international communities.

Through her affiliations with organizations such as The African Diaspora Collective, The Atlanta Black Chambers, The Black Achievement Fund, The National Business League, The 10K Project, and many others, she is championing economic initiatives that build sustainable supply chains and foster strategic partnerships.

Her mission is to create economic opportunities for Black entrepreneurs and business leaders in America, who have historically been excluded from global trade discussions. By forging these international connections, Queen Hereford is working to ensure that Black communities in the U.S. not only have a seat at the table but play a key role in shaping the future of international commerce, economic empowerment, and global policy.

The event featured several other distinguished guests, including:
● Dr. Rohit Gupta: Founder and Chairman of the EurAsia Afro Chamber of Commerce,
Dr. Gupta has been instrumental in promoting cross-continental business relationships
and trade.
● H.E. Bishop Dr. Samsher Khan: Founder of the BSK Prayer Tower and IRKT, Bishop
Dr. Khan serves as a Peace Ambassador for the International Human Rights
Commission (IHRC) and holds the position of Asia’s Social Media Editor. He is dedicated
to promoting peace and spiritual well-being across communities.
● Madam Sadhvi Pragya Bharti: Sadhvi Pragya Bharti is a spiritual leader, humanitarian,
and national media panelist known for her advocacy of social and educational reforms
rooted in spirituality and justice.

The event underscored the importance of strategic economic partnerships as a tool for
peacebuilding, aligning with Queen Hereford’s global mission of self-determination and
economic sovereignty for Black and Indigenous communities worldwide.

As part of her continued advocacy, Queen Hereford urged global stakeholders to collaborate on
drafting a Global Peace Charter, organizing annual Global Peace Assemblies, and
implementing economic policies that uplift marginalized communities.

This event marks a significant milestone in international diplomacy, reinforcing the role of
economic and cultural cooperation in shaping a peaceful and prosperous future for all.

For media inquiries, interviews, or further information, please contact:
H.E. Roselyn Omaka
National Press Secretary, Nation of Cherut
Email: nps@nationofcherut.org
Phone: 281.301.5535

News

Terror Attacks in New Orleans and Las Vegas Linked

Published

2 months ago

January 2, 2025

Bolanle Media Staff

The start of 2025 has been marred by two horrific terror attacks in the United States, one in New Orleans and another in Las Vegas, both occurring on New Year’s Day. These incidents have left communities reeling and have raised concerns about potential connections between the suspects involved.

In New Orleans, a truck driven by 42-year-old Shamsud-Din Jabbar plowed into a crowd celebrating on Bourbon Street, resulting in at least 15 deaths and over 30 injuries. Eyewitnesses reported that Jabbar, a U.S. Army veteran from Texas, deliberately targeted pedestrians while flying an ISIS flag from his vehicle. Following the attack, he exited the truck armed with an assault rifle and opened fire on police officers before being killed in the ensuing confrontation. Authorities discovered improvised explosive devices (IEDs) within his vehicle and in the vicinity of the attack site, further confirming the premeditated nature of this act of terrorism.

Simultaneously, a separate incident unfolded in Las Vegas when a Tesla Cybertruck exploded outside the Trump International Hotel. The driver, identified as Matthew Livelsberger, also had a military background and was reported to have detonated the vehicle packed with firework mortars and fuel, resulting in his death and injuring seven others. Investigators are exploring whether Livelsberger and Jabbar had any prior connection, as both men served at the same military base at different times.

While the FBI has confirmed that they are investigating both attacks as acts of terrorism, they have not established a definitive link between the two incidents. However, similarities in their execution—both suspects rented vehicles from the same company—have prompted further scrutiny into their backgrounds and any potential accomplices.

As investigations continue, authorities are urging anyone with information about either suspect to come forward. The tragic events have sparked discussions about security measures in public spaces, particularly as cities prepare for large gatherings in the coming months.

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