Thinking in Billions – the official opening event of the international tech and startup conference Latitude59 2025 – will spotlight innovation in the defence industry, the implications of drone warfare, and regulatory hurdles – with lessons drawn from Ukraine and other countries. The keynotes and panels of the day will tackle the biggest challenges in the sector and find solutions to the real issues that impact development, deployment, and security. Join the discussion, on May 21, 2025 in Noblessner, Tallinn!

“The European Union and the west continue to be slow to adopt the necessary and painful lessons learned from modern warfare, especially in Ukraine. Despite recent announcements of increased funding, the regulatory framework and the mindset in Europe continue to trail the actual realities of modern war” says James Acuna, former CIA Operations Officer, joining the panel for Defense Tech & Sandboxing Regulations. 

Thinking in Billions is organized in collaboration with the Ministry of Economic Affairs and Communications. According to Minister of Economic Affairs and IT, Erkki Keldo, the war in Ukraine has shown that the world needs smart, effective solutions much faster than before. “Innovation that used to happen in ten-year cycles must now happen in ten weeks. In dual-use technologies, the focus has shifted from defence to offence. Ethical concerns prevent banks from financing such technologies. That’s why we launched a defence fund earlier this year — to help defence tech companies overcome market failures that hinder capital access and innovation. Fast innovation is also supported by the government’s defence industry policy and its value proposition, which brings together all the resources Estonia can offer to companies in this sector.”

Kadri Tammai, Regional Director of NATO DIANA and a moderator at Thinking in Billions 2025, emphasises that the development of defence innovation and rapid deployment of new solutions are critical to our security. “We must urgently increase our capacity to apply not only traditional defence capabilities but also emerging technologies already in use in the civilian sector — like autonomous vehicles, drones, and smart communications systems. Never before have so many companies been ready to adapt these solutions to defence, and we cannot afford to waste that potential.”

The Program of Thinking in Billions 2025

The agenda includes a keynote by Nicholas Nelson, an experienced defence tech investor focusing his presentation on private funding in defense. “Across Europe, we’re witnessing the early stages of a defense technology venture capital ecosystem taking shape. Europe now has the defense spending, research, and talent capabilities to create a flourishing environment that is capable of developing and deploying critical new defense capabilities to secure itself. With that said, the time for being defense-curious or dual-use washing is over. Europe needs private capital to get off the sidelines and back defense-first companies,” says Nelson

The keynote will be followed by Thomas Munkholm, owner of Danish engineering company Weibel Scientific – a long established Danish defense tech company focused on mission-critical radar systems that enable improved security surveillance and superior defense technology. He will discuss the development of advanced Doppler radar systems, the challenges of testing and bringing new technologies to market, and the weak points in international defence cooperation.

The panel “National Security vs. Innovation,” moderated by Kadri Tammai, will explore whether prioritising national security and fostering innovation are truly in conflict – or whether they are, in fact, fundamentally interdependent. The focus: what practical, near-term steps can we take to bridge the gap between security imperatives and innovation capabilities? The panel will be joined by Lt. Gen. Dr. Dennis Gyllensporre (Board Chair at NATO DIANA), Raul Rikk (Milrem Robotics), and Ivo Peets (Estonian Defense Forces).

“Building Effective Defense Tech Sandboxes”, moderated by Rasmus Basilier (VTT Finland/ NATO DIANA Finland)  addresses the complex realities of establishing secure, functional testing environments for drones and other UAVs in the defence sector. Drawing on case studies from the Baltics and beyond, the panel will examine proven approaches, highlight current barriers, and propose actionable solutions that support innovation while maintaining public trust and regulatory compliance. The panel is joined by James Acuna (Former CIA Operations Officer, Baltic Ghost Wing Center), Kateryna Chaikivska (Brave1 ), Aimar Aviste (Threod Systems) and Thomas Markert (Airhub).