An alternate director at the Guam Chamber of Commerce, Juan Carlos Benitez is the president of Washington Pacific Economic Development Group, LLC. An attorney by training, Juan Carlos Benitez served as an advisor in US President George W. Bush’s administration and has expertise in territorial matters and US national defense.
On Dec. 1, 2022, US Secretary of Defense Lloyd Austin III announced the establishment of the Office of Strategic Capital (OSC) at the Department of Defense (DOD). The new office will strengthen the country’s technological advantage in defense by focusing private capital into the development of critical technologies.
The United States’ technological advancement has long been the foundation of the country’s military superiority. To maintain this advantage, the Department of Defense must continuously develop and scale important technologies in quantum science, biotech, and advanced materials. However, it takes considerable investment to move such technologies from ideation in the laboratory to mass production. The Defense Secretary is building OSC to bridge that financing gap.
OSC has a mandate to identify promising technology areas in academia and industry and prioritize funding for these areas. The office will promote funding either internally, through the DOD, or externally through partnerships with the private sector. OSC will also contribute to developing and implementing policies that advance private sector industrial capabilities.