MDA Space has launched a new corporate venture initiative to invest in Canadian small and medium-sized businesses developing space and defense technologies.

The program, dubbed MDA Space LaunchPad Ventures is designed to help fund and accelerate the development of space and defense capabilities that address Canada's strategic sovereign priorities and market opportunities.

The Canadian robotics, satellite systems and geo-intelligence company said Thursday that it has identified 25 areas of focus where it would direct its investments.

The investments aim to equip, sustain and modernize the Canadian Armed Forces and allied militaries by providing early-stage companies with capital alongside technical and commercial support through MDA Space and its non-space defense subsidiary, 49North.

"With MDA Space LaunchPad Ventures we are looking to unlock, accelerate and strengthen the country's space and defense industrial base, reinforce sovereign capabilities, and ensure that the next generation of mission-critical and export-ready technology is built here at home," Chief Executive Mike Greenley said.