Silicon Valley Defense Group Releases 2025 NatSec100 Report, Highlighting the Nation’s Top Dual-Use and Defense Tech Startups
July 9th, 2025
NEW YORK, NY, July 9, 2025 – The Silicon Valley Defense Group (SVDG), a nonprofit committed to strengthening U.S. national security by bridging the technology, capital, and policy communities, today announced the release of the 2025 NatSec100, the definitive ranking and analysis of the top 100 venture capital and private equity backed startups driving innovation in defense and dual-use technology. The annual report is made possible through the support of J.P. Morgan, the title sponsor.
Set against the backdrop of a geopolitical and technology inflection point, theNatSec100 provides a data-driven view into the most consequential U.S. emerging companies across critical domains—including artificial intelligence, autonomy, advanced computing, space, cyber, and resilient infrastructure.
The report offers government leaders, investors, and industry stakeholders a strategic view into the companies shaping the future of national security.
The 2025 NatSec100 underscores a pivotal theme: the next phase of innovation must be defined by adoption. The report includes analysis of government contract data, venture capital investment trends, and barriers to adoption and scaling within the defense ecosystem. Key recommendations include:
Prioritize innovation adoption over invention
Engage public markets to facilitate defense tech growth into next stage of maturity
Send stronger technology demand signals to capital markets
Reduce current gap between private and public investment in emerging technology companies
Deepen coordination with allied innovation ecosystems
This year’s list reflects a maturing market—with more companies scaling, more dollars flowing into mission-aligned ventures, and a significant influx of new entrants. Notably, two of the top 10 companies in the 2025 cohort are new to the list, signaling momentum from unexpected corners of the innovation base.
"The NatSec100 is not just a list—it’s a signal," said Mike Keating, Executive Director at Silicon Valley Defense Group. "It signals positive, but precarious, momentum and maturation in the defense innovation ecosystem. It signals a defense tech ecosystem ready for the natural next phase of growth - adoption at scale. It signals where capital needs to flow going forward and it signals risks to current ecosystem momentum, namely the gap between private investment and USG awards."
About the Silicon Valley Defense Group (SVDG)
The Silicon Valley Defense Group (SVDG) is a non-profit organization dedicated to accelerating national security innovation by bridging the gap between emerging technology, private capital, and the U.S. government. SVDG convenes industry, policymakers, and mission stakeholders to foster collaboration, surface new pathways for fielding critical technology, and support a resilient, distributed, and modern defense industrial base. From policy dinners and executive roundtables to research reports and initiatives like the NatSec100, SVDG operates at the intersection of innovation and national defense—driving impact where it’s needed most. Learn more at www.siliconvalleydefense.org.
