SPRIND is a German federal agency founded in December 2019 that identifies, validates, and finances breakthrough innovation projects with high development risk that lack access to private capital markets. The agency operates innovation competitions (Challenges) across sectors including life sciences and computing, providing grants, equity investments, and subsidiary creation to support teams from universities, research institutions, startups, and established companies primarily in Germany and EFTA states. SPRIND functions as a bridge between basic research and commercial viability—what it terms the "valley of death"—using flexible pre-commercial procurement models to disburse funding within days of jury selection. Rafael Laguna served as founding director. The agency operates with an annual budget of up to EUR 250 million and has launched nine innovation competitions since 2021. SPRIND is owned by the Federal Republic of Germany and was conceived as a non-military counterpart to the U.S. DARPA.