In-Q-Tel of Arlington, Virginia, United States is a not-for-profit venture capital firm that invests in high-tech companies for the sole purpose of keeping the Central Intelligence Agency equipped with the latest in information technology in support of United States intelligence capability.[4] Originally named Peleus and known as In-Q-It, In-Q-Tel was launched in 1999 under the direction of Gilman Louie.[4] In-Q-Tel’s mission is to identify and invest in companies developing cutting-edge technologies that serve United States national security interests. Working from an evolving strategic blueprint defining the Intelligence Community's critical technology needs, In-Q-Tel engages with entrepreneurs, growth companies, researchers, and venture capitalists to deliver technologies that provide superior capabilities for the CIA, DIA, NGA, and the larger Intelligence Community. In-Q-Tel concentrates on three broad commercial technology areas: software, infrastructure and materials sciences. Former CIA director George Tenet says,
In-Q-Tel sold 5,636 shares of Google Inc., worth over $2.2 million, on Nov 15, 2005.[6] The stocks were a result of Google’s acquisition of Keyhole, the CIA funded satellite mapping software now known as Google Earth. As of August 2006, In-Q-Tel had reviewed more than 5,800 business plans, invested some $150 million in more than 90 companies, and delivered more than 130 technology solutions to the intelligence community.[4][7] In 2005 it was said to be funded with about $37 million a year from the CIA.[8]
[edit] Selected investmentsOf those companies listed on In-Q-Tel's investment website page,[9] Hoover's company records identifies the following companies as being selected investments of In-Q-Tel:[4] In-Q-Tel functions partially in public, however what products it has and how they are used is strictly secret.[8] According to the Washington Post, virtually any U.S. entrepreneur, inventor or research scientist working on ways to analyze data has probably received a phone call from In-Q-Tel or at least been Googled by its staff.[8] [edit] GovernanceIn-Q-Tel is a Virginia-registered corporation, legally independent of the CIA or any other government agency. In-Q-Tel answers solely to the CIA,[8] it is bound by a Charter agreement with the CIA, which sets out the relationship between the two organizations, and by an annual contract with the CIA. In-Q-Tel is a nonprofit, however its employees can profit from its investments.[8] According to public records, current principals include:
[edit] Other related personnelNumerous noteworthy business and intelligence community professionals have been involved with In-Q-Tel at various times, including the following:
[edit] Views of In-Q-Tel"In my view the organization has been far more successful than I dreamed it would be," said Norman R. Augustine, who was recruited in 1998 to help set up In-Q-Tel and is an In-Q-Tel trustee.[8] Critics have questioned the societal benefit gained from the secretive investments.[8] [edit] References
[edit] External links
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