European defense program chooses Latvian firm Ascent Lumina for accelerator program
**Ascent Lumina Tapped for European Defence Innovation Programme**
Latvian tech company Ascent Lumina has been selected to participate in the European Defence Innovation Accelerator (EUDIA), a business accelerator designed to bolster the European defence sector. This recognition underscores the international acclaim for Latvian technological solutions and places Ascent Lumina among promising innovators in European defence technology.
The EUDIA programme offers Ascent Lumina a host of benefits, including:
1. Access to advanced defence innovation networks and funding, enabling the company to expedite the development and deployment of its technologies within the European defence ecosystem. 2. Collaboration with other defence sector actors, such as startups, research institutions, and national armed forces, which can facilitate joint R&D and scaling initiatives. 3. Support to strengthen the European defence sector's technological capabilities, positioning Ascent Lumina to contribute to modernizing and enhancing defence readiness in Europe.
Being part of a scheme backed by the European Defence Fund, which allocates substantial investments (approaching €2 billion by 2027) to support defence innovation startups, offers financial and strategic resources to companies like Ascent Lumina.
For Ascent Lumina, this participation represents a significant opportunity for company growth by enhancing its technological portfolio, expanding its market reach in defence sectors, and increasing its visibility and credibility on a European scale. For the wider defence industry development, it fosters innovation, collaboration, and a more integrated, technologically advanced European defence industrial base.
It is important to note that the European Commission's Defence Innovation Programme will not directly promote the delivery of ASCOD infantry fighting vehicles. Ascent Lumina has previously participated in the Ministry of Defence grant project competition, but the company will not receive a guarantee of 65,000 euros for the development of innovative products related to the ASCOD project.
In January, a contract was signed for the supply of 42 ASCOD infantry fighting vehicles to the National Armed Forces, at a cost of 373 million euros. The first ASCOD combat vehicles are planned to be delivered to the National Armed Forces in 2026. The Ministry of Defence has announced that at least ten Latvian companies will be involved in the delivery of ASCOD infantry fighting vehicles.
The eight-month acceleration programme, which begins in June during the Paris Air Show, will culminate in presentations of the companies' achievements to defence industry end-users from the European Union member states and Norway. Ascent Lumina develops computer vision and visual control technologies for unmanned systems and also works in the fields of artificial intelligence, machine vision, augmented reality, and robotics. The company's participation in the EUDIA programme demonstrates its commitment to advancing defence technology and its potential to make a significant impact in the European defence sector.
[1] European Defence Innovation Accelerator (EUDIA) - https://ec.europa.eu/info/funding-tenders/opportunities/portal/screen/opportunities/topic-details/DEF-2022-DEF-02-01 [2] European Defence Fund - https://ec.europa.eu/info/strategy/priorities-2019-2024/europe-defence-industrial-development/what-european-defence-fund_en
- Ascent Lumina's participation in the European Defence Innovation Accelerator (EUDIA) provides an opportunity to collaborate with other defence sector actors, including research institutions and national armed forces, to facilitate joint R&D and scaling initiatives, particularly in the areas of artificial intelligence, machine vision, augmented reality, and robotics.
- The European Defence Fund, which supports defence innovation startups, has allocated substantial investments (approaching €2 billion by 2027), and being part of such a scheme offers financial and strategic resources to companies like Ascent Lumina, enabling them to expedite the development and deployment of their technologies.
- The European Defence Innovation Accelerator (EUDIA) provides benefits such as access to advanced defence innovation networks, funding, and support to strengthen the European defence sector's technological capabilities, which can position tech companies like Ascent Lumina to contribute to modernizing and enhancing defence readiness in Europe, particularly in sectors like transportation and finance.
