Many think Montana is just mountains and fly fishing, but they haven't been paying attention. This state is quietly becoming one of the most interesting places in the country to build, invest, and place big bets on hard technology. We're here to track it.

If this is in your inbox, it's because we thought you might want to hear about all that is happening in your own backyard. Maybe you invest or advise start-ups or have a network and expertise you want to share. Maybe you need funding. Maybe you want to share news about your start-up.

The goal of this newsletter is to act as a bridge, connecting a unique community of founders, advisors, investors and anyone else that is curious or wants to contribute to Montana’s emerging technology ecosystem. I hope you agree and subscribe:) - Graham Conran, Managing Director | Frontier Angels.

P.S. - if we missed the mark, a single click gets you off our subscriber list.

Every edition: the news that matters, the deals worth watching, and real updates from start-ups and early stage companies from across Montana.

Let's get into it.

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Lattice Materials just secured $18.5M in federal defense funding and is breaking ground this spring on an 80,000 sq ft manufacturing facility near Bozeman Yellowstone International Airport. They grow silicon and germanium crystals for infrared optics used in U.S. defense systems.

Why now? China restricted germanium exports. The U.S. needs domestic supply. Montana has it.

50 high-wage jobs. A new manufacturing footprint. And a reminder that hard tech doesn't have to happen in Silicon Valley.

→ Read more: https://matr.net/news/lattice-materials-expansion-and-defense-dept-funding-strengthens-bozeman-montanas-role-in-national-defense-manufacturing/

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EnCap-backed Quantica Infrastructure announced the 'Big Sky Campus' — a 5,000-acre AI hyperscale data center campus outside Billings. Initial capacity: 500MW. Expandable to 1GW. NorthWestern Energy signed a power agreement for up to 1,000MW.

CNBC ranked Montana #3 in the nation for data center potential. There are now 11+ more firms in conversations with NorthWestern.

The infrastructure wave is here. The question is who builds on top of it. Let your representatives know we want Montana businesses to be given priority access because compute is a rare commodity and we can easily leverage 50 data center jobs into 500 cutting edge start up jobs. 

→ Read more: https://www.datacenterdynamics.com/en/news/encap-backed-quantica-details-plans-for-1gw-campus-in-montana/

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Montana State University received a $750,000 NASA grant to develop photonic circuits that solve atmospheric interference in space-based laser communications. Dual-use: commercial and defense.

Bozeman already employs 1,000+ people in photonics. MSU is feeding that pipeline from the lab. The spinout potential here is real — and we're watching closely.

→ Read more: https://www.montana.edu/news/25093/nasa-awards-grant-to-montana-state-for-quantum-space-communications

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The U.S. Patent and Trademark Office opened its 'Northwest Frontier Community Outreach Office' at Montana State University in February 2026 — one of only a handful nationwide.

Translation: Montana founders now have on-the-ground IP support for the first time. Lower friction to file, faster path from lab to company. Watch for an uptick in tech transfer activity out of Bozeman over the next 24 months.

→ Read more: https://xlcountry.com/msu-patent-and-trademark-office/

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Next Frontier Capital just hit its 10-year mark. In 2014, Montana attracted roughly $3M in total venture investment. In 2025: nearly $460M. That's a 139x increase in a decade.

Repeat founders. Institutional LPs. A self-sustaining ecosystem. This isn't a trend anymore — it's a compounding flywheel.

FrontierAngels exists because we believe the best deals in the next decade won't all come from the coasts. The numbers are finally catching up with what we have always believed.

→ Read more: https://matr.net/news/a-decade-in-the-making-how-montana-became-a-venture-engine-reflections-on-next-frontier-capitals-10-year-anniversary/

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We're Montana's premier angel investor community — 100+ accredited investors backing B2B technology companies built from the ground up here in Montana and across the country. Our network of 50+ of the country's best angel groups means better deal flow for investors, more funding for Montana start-ups.  If you're a founder or investor, visit frontierangels.com.