Who will survive in the defence-tech market: from prototype to serial production?

Friends, sharing a note from defence tech: investment is rising, but not everyone survives.

TechCrunch notes higher valuations for Anduril and Mach; the US plans a substantial budget increase — startups are racing for contracts. Investor Ross Fubini warns many will stall in the "valley of death" between prototype and delivery.

What sets survivors apart:
- scalable manufacturing and combat readiness;
- experience with government procurement and turning prototypes into contracts;
- established supply chains and industrial partners.

Why it matters: capital without production and execution is limited.

How do you assess newcomers' odds of large-scale success?

#defencetech #venture #govtcontracts #industry