European Defence Fund: €1 billion to develop tomorrow's defence capabilities

The Commission has adopted the 2026 Work Programme of the European Defence Fund (EDF) with an expected budget of 1 billion euro for research and development in the defense sector.

The EDF supports companies from all Member States in developing defense projects that provide innovative and interoperable technologies and equipment, aiming to reduce investment fragmentation in the sector and strengthen European industrial competitiveness. The program has a budget of approximately €7.3 billion for the period 2021-2027 and covers 34 thematic categories aligned with the priorities set out in the Common Security and Defense Policy framework and the Capability Development Plan, as well as, where appropriate, regional priorities and the priorities of international organizations such as NATO.

Half of the annual budget is dedicated to supporting research and development of core defense capabilities, including endo-atmospheric interceptors, main battle tanks, multiple rocket launchers, and semi-autonomous ships; while a quarter of the budget is dedicated to critical technologies and capabilities in a variety of cutting-edge areas, including secure quantum networks, electronic warfare, the multi-domain operational cloud, and high-performance power systems.

The final quarter is dedicated to the implementation of the EU Defence Innovation Programme, which includes approximately €60 million for disruptive technologies and €60 million for non-thematic calls for SMEs.

The topics are as follows:

Relating to the medical support for defense, CBRN, biotechnology and human factors, with a budget of €40 million:
- Alliance for Defense Medical Countermeasures – Research and Development Actions (2 topics)
- CBRN decontamination systems and technologies;
Relating to advanced passive and active sensors with a budget of €44 million:
- Multi-domain sensor demonstrator and test;
- Improved cognitive EW system with intelligent RESM CESM signal analysis;
Sector-related cyber, with a budget of €14 million:
- Secured Quantum Tactical Networks;
Relating to the space sector, with a budget of €50 million:
- Integration of Galileo PRS receivers on weapon systems and NAVWAR operations centers in military C2s;
Relating to the digital transformation, with a budget of €70 million:
- AI-based tactical situational awareness using swarms of small robots and drones: participation and organization of a technological challenge (2 topics);
- Cloud services for multi-domain military operations;
Relating to the Energy resilience and environmental transition, with a budget of €50 million:
- New turbofan engine;
- High performance energy systems;
- Unmanned platform for the collection and disposal of ammunition waste;
Relating to materials and components with a budget of €20 million:
- Smart and multifunctional fabrics;
Relating to the air combat with a budget of €69 million:
- Autonomous and automatic air-to-air refueling;
- Self-protection systems;
- Intelligent Technologies for Next-Generation Combat Systems;
Relating to the air and missile defense, with a budget of €168 million:
- Countering Hypersonic Glide Vehicles;
- High-end endoatmospheric interception;
Relating to the ground combat, with a budget of €150 million:
- Multiple rocket launchers;
- Future Main Battle Tank Platform Systems;
Relating to the force protection and mobility, with a budget of €24 million:
- Future light multi-role aircraft;
- Secure Digital Military Mobility System;
Relating to the naval combat, with a budget of €90 million:
- Improved medium-sized semi-autonomous surface vessels;
Relating to the underwater warfare, with a budget of €40 million:
- Development and validation of models that predict flow-related underwater noise;
- Layered protection of critical seabed infrastructure;
Relating to the simulation and training, with a budget of €16 million:
- Model- and simulation-supported AI framework for military decision-making and training;
Relating to the disruptive technologies, with a budget of €57 million:
- New capabilities in beyond-the-horizon detection;
- Non-thematic actions targeting disruptive defense technologies.

Le Non-thematic calls for innovative and future-oriented defense solutions focused on SMEs, with an overall budget of €65 million, I'm:

Call dedicated to SMEs and research institutions;
Call dedicated to SMEs.

The 2026 work programme also includes €39 million intended for:

Business coaching for SMEs;
Defence Equity Facility under InvestEU for SMEs and Mid-Caps;
EUDIS Defense Hackathon;
EUDIS Business Accelerator;
EUDIS Matchmaking Services

For more information: info@iniziativa.cc

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Success Cases

Sandro Ferrone

Iniziativa, acting as financial advisor, assisted Ferrone in the issuance of a €2,5 million minibond under the Basket Bond Lazio program, to support brand development, retail expansion, and digital investments.

Acquisition transaction: Minibond issue
Sector: Women's Fashion / Fashion & Retail
Deal: Undisclosed
Date: 2025

Business Process Reengineering

Reorganization of the activities and processes of the offices in which the organization is organized with the aim of improving the offer of services provided to users with a view to optimizing the available resources and the digital transition

Sector: Local authorities - Organizational and process reengineering
Date: 2022

Management control

Design and support for the implementation of the management control system, the design of a KPI dashboard for monitoring company performance and the optimization of organizational processes

Sector: Production of pastry products
Turnover: €3.947.216
Date: 2019

Sabina Public Water

PPP operation (pursuant to Legislative Decree 50/2016) concerning the "Implementation and management of a Smart metering system for the automation of the reading and management processes of Sabina Public Water meters and the implementation of a management of data driven water resource management processes”

Sector: Digitalisation
Date: 2023

MUNICIPALITY OF COMELICO SUPERIORE – CABLE CAR CONNECTION WITH SOUTH TYROL

Economic-financial analysis aimed at verifying the compatibility of the aid pursuant to art. 55 of the GBER of Regulation (EU) No. 651/2014 relating to the construction of "a "system connection between the Padola-Comelico Superiore district and Passo Monte Croce Comelico di Valgrande to the Tre Picchi - Col d'La Tenda station", developed by the Municipality of Comelico Superiore (Belluno) as part of the STACCO project for the valorization of the resources of Val Comelico

Sector: Sports Facilities PPP
Date: 2023

Training

Design and delivery of training on corporate finance management: "Knowing the present to plan the future" to the top figures of 30 SMEs, in collaboration with the Naples Industrial Union

Sector: Banking
Date: 2022

Santa Maria Terni Hospital

Technical assistance for the economic-financial and management evaluation relating to a project financing proposal pursuant to art. 183, paragraph 15, of Legislative Decree 50/2016 for the "Construction and management of the new Terni hospital"

Sector: Healthcare company PPP
Date: 2021

Sustainability reports

Support in the preparation of the corporate sustainability report and definition of the ESG strategy and indicators for monitoring sustainable variables

Sector: Textile company
Turnover: €36.081.512
Date: 2023

CASTLE

CAbin Systems design Toward passenger well-being

Program: HORIZON - Clean Sky2
Project cost: €11.695.656,00
Contribution: €9.533.525,00
Date: July 2016

Management control

Development of the Investment Plan and the economic-financial plan for the opening of Mignon brand sales points of the company business in the main Italian cities and railway stations

Sector: Bars and other establishments
Turnover: €3.918.453
Date: 2018

Colser Services

Consultancy and support for economic-financial and procedural aspects in all phases of the procedure relating to a PPP initiative (pursuant to paragraph 15 art. 183 Legislative Decree 50/2016) relating to an "Infrastructural enhancement intervention for the integrated management of classrooms, monitoring of structures and environments, environmental hygiene services and general services for the IUAV University of Venice"

Sector: Facility Management
Date: 2020

GEVEN SpA

Construction of a new production unit for the manufacture of aircraft seats

Contract: Law 181/89 and subsequent amendments.
Project cost: €10.441.948
Non-refundable contribution: €2.014.000
Concessionary Financing: €5.220.000
Date: October 2017

ROMAN GROUP

Design and support for the implementation of the economic-financial control and management control system, the design of a KPI dashboard for monitoring company performance and the optimization of organizational processes

Sector: Call Center
Date: 2023

TILES

The first platform for shared entertainment

Program: Horizon - SME Instrument
Project cost: €1.651.720,00
Contribution: €1.156.204,00
Date: October 2015

A.Abete Srl

Iniziativa, as financial advisor, assisted A.Abete in the subscription of the Campania Bond.

Acquisition transaction: MiniBond
Sector: Aerospace
Deal: 3.500.000
Date: 2024

Model 231 from 2001

Update of the company's Organization, Management and Control Model, drawn up pursuant to Legislative Decree 231 of 2001

Sector: Company subject to the management and coordination of Invitalia National Agency for Attracting Investments and Business Development SpA
Turnover: €11.444.972,00
Date: 2020

Comesvil SpA

The private equity fund Auctus Capital Partners has acquired 65% of Comesvil, an Italian excellence in the railway sector, Iniziativa supported the sellers in the deal.

Acquisition operation: Entry into the capital by Auctus Capital Partners
Sector: Railway Construction
Deal: Undisclosed
Date: 2023

European Digital Innovation Hub

Heritage Smart Lab

Program: Digital Europe Program and MIMIT
Project cost: €5.137.101,14
Contribution: €2.568.550,58
Date: November 2022

MISENO

Multipurpose Ital-GovSatCom application Services for Emerging user Needs and Objectives

Contract: Innovation Agreements for the Space Economy
Project cost: €8.987.370,13
Non-repayable contribution: €4.192.681,20
Date: June 2020

Sol SPA

Consultancy and support for economic-financial and procedural aspects in all phases of the procedure relating to a PPP initiative (pursuant to paragraph 15 art. 183 Legislative Decree 50/2016) relating to an intervention of "Implementation and management innovative and integrated fuel charging station for new buses powered by LNG (Liquid Natural Gas) for the ATAP of P

Sector: Industrial Gases
Date: 2021

Be.CULTOUR

Beyond CULtural TOURism: human-centred innovations for sustainable and circular cultural tourism

Program: Horizon
Project cost: €4.097.203,75
Contribution: €3.993.328,75
Date: February 2021

Business Process Engineering Startups

Support for the definition of the organizational structure, management and control processes of the commercial funnel and process optimization with a view to upgrading the company information system, design and implementation of the management control system and a KPI dashboard for monitoring the company performance

Sector: Computer programming
Turnover: €60.500,00
Date: 2022

CA.MPANIA

MEASUREMENT CHARACTERIZATION OF POLYMERS: NON-INVASIVE ANALYSIS

Contract: Campania startUp 2020
Project cost: €78.862,00
Contribution: €67.032,70
Date: June 2023

AERONAUTICAL CONSTRUCTION TECNAM SPA

Innovate and expand the product range, in particular with the development and launch of the new P2020 aircraft; as well as expanding production capacity, with the construction of a new production site.

Contract: Development Contract
Project cost: €37.536.422,57
Non-refundable contribution: €13.638.819,00
Concessionary Financing: €4.417.290,00
Date: April 2024

Provincial Palace ProjektBau

“Project Financing for the construction and management of a property to be used as public offices and related appurtenances for the Autonomous Province of Bolzano” – Proposal pursuant to paragraph 15 art. 183 Legislative Decree 50/2016 for a Project Financing initiative - Technical assistance to the proponent, Projektbau Srl, with particular reference to the activities of: i. PEF preparation and sworn certification support, ii. Support in drafting the feasibility study; iii. Public Sector Comparator and Value for Money editorial team; iv. Drafting Cost-Benefit Analysis; v. Supporting the legal team for the development of the draft agreement; you. Support in drafting the document "Specification of the characteristics of the service and management"

Sector: Sports facilities
Date: 2016

CLICK

Circular models Leveraging Investments in Cultural heritage adaptive reuse

Program: Horizon
Project cost: €4.957.033,00
Contribution: €4.957.033,00
Date: October 2017

South Tyrol Health Authority

Technical assistance to the Grantor in the evaluation of a Project Financing proposal relating to an intervention for the "Supply of energy carriers (hot water, steam, electricity) for the San Maurizio hospital in Bolzano"

Sector: Healthcare company PPP
Date: 2021

Airtime

Iniziativa, as a financial advisor, assisted the Airtime Partecipazione group in the listing process on Euronext Paris.

Acquisition operation: IPO on Euronext
Sector: Telecommunications Services
Deal: Undisclosed
Date: 2021

Sustainability Report

Support in the preparation of the corporate sustainability report and definition of the ESG strategy and indicators for monitoring sustainable variables

Sector: Production of paper and cardboard
Turnover: €63.405.288
Date: 2022

Study, research, data analysis

Constitution of the Italian Observatory on Public Shareholdings in partnership with the University of Naples Federico II, the University of Rome Tor Vergata and the University of Milan Bicocca with the aim of carrying out study, research, data analysis, preparation and publication of reports regarding the economic, financial and financial situation

Sector: Public-owned companies - performance analysis
Date: 2020

€1.9 billion Production investments supported | €435 billion Investments in Research & Innovation subsidized | 200 active customers with hundreds of completed transactions | 100 Project Financing/PPP Operations Supported | €1.9 billion Production investments supported | €435 billion Investments in Research & Innovation subsidized | 200 active customers with hundreds of completed transactions | 100 Project Financing/PPP Operations Supported |