Thinking in Billions 2025
May 21
The message from the Latitude59 opening event “Thinking in Billions” was that the European Union and the West are not learning the lessons of war quickly enough. It was also emphasized that accelerating innovation in the defence industry is critical today, but for this to happen, regulations must change, cooperation between the defence forces and the private sector must increase, and private capital must also step out of the role of bystander.
Estonian and international experts spoke at the Latitude59 opening event today, on May 21, 2025, about the development of both defence and offensive technologies, and focused on practical steps to strengthen Europe’s defence capabilities.
Former Director of Operations for the US Central Intelligence Agency (CIA) James Acuna pointed out in his speech that the European Union and the West are not learning the lessons of war quickly enough. “The European Union and the West continue to be slow to embrace the necessary and painful lessons that modern warfare, especially in Ukraine, has taught us. Despite recent announcements of increased funding, Europe’s regulatory framework and mindset still lag behind the realities of modern warfare,” he said.
Ukraine’s experience in developing defensive and offensive technologies was presented by Kateryna Chaikivska, an investment analyst at Brave1, a defense technology cluster created by the Ukrainian government. Brave1 today unites over 1,500 companies into a single innovation ecosystem and aims to ensure the technological superiority of the Ukrainian armed forces over the enemy.
“In today’s world, investing in defense technology is no longer just a question of return – it is a question of relevance,” Chaikivska said. “Ukraine offers investors a rare opportunity: access to a unique, rapidly developing ecosystem where technologies are tested and validated in real battlefield conditions. Those who invest in the defense industry not only support Ukraine’s victory, but also gain early access to cutting-edge solutions that will shape the future of global defense.”
The experts acknowledged that technological and geopolitical pressure is currently greatest on NATO’s eastern flank, and stressed that promoting defense innovation and the rapid adoption of new solutions is critical for the security of the Baltic States.
NATO DIANA Regional Director Kadri Tammai emphasized that the willingness of companies to contribute to the defense industry should not be underestimated or left untapped. “Europe must urgently increase its capacity to implement new technologies that are already successfully used in the civilian sector, alongside traditional capability development. Be it autonomous vehicles, drones or smart communication solutions. Never before have so many companies been ready to develop and adapt these solutions for the defence sector, and this potential must not be missed.”
However, in the discussion focused on the development of test environments for drones and other defence technologies, it was pointed out that the testing of new defence and offensive technologies is currently hindered by legislation. There is also a lack of defence and offensive technology testing environments where private companies could go to test their products.
Thomas Øiseth Munkholm, owner of the Danish engineering company Weibel Scientific, shared with the audience his experience in developing high-tech Doppler radar systems and stressed that international cooperation in the defence sector needs to be improved. Today, Weibel Scientific radars are widely used in the defence sector for short-range air defence, ballistic missile defence and critical infrastructure protection.
Nicholas Nelson, a venture capital partner at Superangel, a venture capital fund focused on defence and dual-use technologies, said that investment in defence technologies is still in its infancy. “Today we are witnessing the beginning of the emergence of a defence technology venture capital ecosystem in Europe. Europe now has the funding, R&D capacity and talent to create an environment that can develop and deploy new critical defence capabilities for security,” he said. However, he said that the time when countries could be merely curious about developments in the defence sector is over. “Europe needs private capital to step out of the role of a bystander and directly support key defence companies,” Nelson said.
The inaugural event of Latitude59, “Thinking in Billions”, was organised in cooperation with the Ministry of Economic Affairs and Communications. The event brought together defence industry experts, technology entrepreneurs and policymakers in Tallinn. The day was moderated by Sandra Särav, Undersecretary of State for Economic Affairs and Innovation.
Photo album “Thinking in Billions” 2025
“Thinking in Billions” website
