The City of London recently held 'City Defence Day' at Mansion House, an event designed to connect capital with opportunities in the defence technology sector. The day combined a Defence and Resilience Tech Scale Up Showcase with the annual Defence Lecture.
According to Susan Langley, Lady Mayor of the City of London, 21 British defence and dual-use technology firms were present, seeking £350m from just under 300 investors. Attendees included Luke Pollard MP, Minister of State for Defence Readiness and Industry, and General Valerii Zaluzhnyi, Ukraine’s Ambassador to the UK.
Ms Langley stated that the City's success as a global financial hub relies on stability, rule of law, and security, and that the City has a role in backing companies developing technologies for national security. She also highlighted that defence investment can drive innovation with wider benefits, citing radar and cavity magnetron technology as examples.