In-Q-Tel Inc.
In-Q-Tel Inc.
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About this organization
Mission
In-Q-Tel identifies, adapts, and delivers innovative technology solutions that serve the national security interests of the United States government and its allies.
About
In-Q-Tel (IQT) was established in 1999 as a private, independent, not-for-profit corporation to help the CIA and broader US Intelligence Community (IC) identify, adapt, and deliver cutting-edge technologies that address national security needs. IQT's strategic investment model gives it the agility often lacking within traditional government contracting approaches to find and nurture entrepreneurs and companies that can provide a supply chain of innovation which enables the IC to benefit from commercial technology advances. IQT's purpose is to take the calculated investment risks necessary to support leading-edge, but often unproven, technologies, and mature them to operational readiness to help the United States government (USG) achieve its missions. Approach: IQT works as: * A strategic investor, investing in companies to help nascent commercial technologies mature into mission-ready products at a lower cost than alternative approaches; * A technology accelerator, fostering development and introduction of technologies needed by the USG; and * An idea lab and forum for innovation and exploration, providing the USG and its allies with insight and access into both new technologies and leading innovators and thinkers. Identifying Innovative Technologies: As a strategic investor, IQT identifies startup companies that have commercially-focused, 'ready-soon' innovative technologies, which are off-the-shelf products that do not require long-term development from the ground up. IQTs focus on this space means that it finds and delivers critical, innovative technology more quickly and cost effectively. IQT crafts work programs to adapt a companys technology to specific customer requirements and makes an investment towards that work program. IQT designs its strategic investments to accelerate product development and delivery, and to help companies add capabilities that its government partners need. IQT also makes seed investments, which are investments in companies that hold promise for contributing to national security capabilities. These investments do not include a work program where the technology is modified. Seed investments provide access and educational insights about that technology area that serve the USG and its allies; in the US, these often become investments with a work program once the company has grown to take on this endeavor or a government partner is ready to evaluate and utilize that companys technology. IQT also serves as a technology consultant and advisor that provides market, technology, and venture capital insights to the USG and its allies. Additionally, IQT effectively leverages a significant amount of private sector funds, often from top-tier venture capital firms, to co-invest in our portfolio companies. On average, for every dollar that IQT invests in a company, the venture capital community has invested more than sixteen dollars, helping to deliver crucial new capabilities at lower cost to the government. As of March 31, 2019, IQTs areas of technology focus are: autonomous systems, cybersecurity, infrastructure, data analytics, artificial intelligence, power and energy, applied biology, and communications. Building Strong Companies for Strong Technologies: Using product development funding and equity investing, IQT creates incentives for companies to put their best talent into solving the toughest technology problems facing the USG and its allies. In the US, once an investment is made, IQT works with the company and the customer to adapt the technology according to customer need, and facilitates solution delivery. The advantages to the USG are significant: lower initial and long-term costs, faster development, and ongoing product enhancements to meet customer needs. Serving New Customers: Today IQT is a partner to multiple agencies committed to national security including: CIA (Central Intelligence Agency), FBI (Federal Bureau of Investigation), NSA (National Security Agency), NGA (National Geospatial-Intelligence Agency), NRO (National Reconnaissance Office), DHS (specifically Customs and Border Protection, a DHS component), DIA (Defense Intelligence Organization), Air Force, and other DOD components. Program Service Accomplishments: In furtherance of its exempt purposes, IQT has made more than 450 investments as of March 31, 2019, which includes more than 50 in the current tax year. These technologies have contributed directly to situational awareness and mission capabilities of the USG and its allies. Technology delivered by IQT, for example, makes it possible to fuse data from maps, images, text, and other sources; visualize information in ways not previously possible; rapidly process vast amounts of information in multiple languages; make sense of seemingly unconnected information; and identify critical intelligence faster and more effectively. Simultaneously, IQT has cultivated a network of more than 200 venture capital firms and more than 100 labs and research organizations, further broadening the USG access to innovative technologies. This network has allowed IQT to leverage more than $11.4 billion in private-sector funds to support technology for its partners. In November 2018, IQT announced that it was opening offices in London and Sydney to strengthen its ability to reach startups and the venture capital community outside the US and to better contribute to the national security of the US and its allies. These offices support a partnership between the US, UK, and Australian intelligence and national security communities and strengthen the companys ability to connect with startups and co-investors outside the US. To conduct these activities, IQT formed IQTI LLC, a wholly owned US subsidiary, and IQT International UK Ltd and IQT International Australia Ltd as wholly owned subsidiaries of that entity in the United Kingdom and Australia, respectively. During the year ended March 31, 2019, these offices conducted outreach to the venture capital and startup communities and provided insights as to the world-class science and technology, and venture capital, ecosystems available in each region to continue IQTs national security mission for the USG and its allies. In addition, IQT established IQT Labs, which explores the art of the possible in emerging technology areas of interest to national security, including cybersecurity, biotechnology, commercial space, and advanced data analytics. IQT Labs reflect IQTs nonprofit mission, by developing collaborative arrangements that make private sector and academic technology accessible to the USG, fostering the development of technology that will benefit the public, private and academic sectors in the US and performing and promoting research in the field of technology. IQT Labs are funded by proceeds from investment realizations on portfolio company exits. As of March 31, 2019, IQT Labs consists of five labs that explore technology opportunities and solutions to problems that have yet to be discovered. The five labs are Lab41 (Advanced Analytics), CosmiQ Works (Commercial Space), Cyber Reboot (Cyber), BNext (Biotech) and Visualization (Data Visualization and Explanation). In October 2018, IQT established IQT Labs LLC as a wholly owned subsidiary to house its Labs activities as well as SpaceNet LLC (https://spacenet.ai/) as a wholly-owned subsidiary of IQT Labs LLC. SpaceNet is dedicated to accelerating open source, artificial intelligence applied research for geospatial applications, specifically foundational mapping, by developing and providing publicly available commercial satellite imagery and labeled training data, as well as open sourcing computer vision algorithms and tools. Governance and Oversight: IQT is governed by an independent Board of Trustees comprised of former officials from the Defense and Intelligence Communities, as well as current or former CEOs of major companies, and university and investment industry leaders. IQT is a private, independent, not-for-profit corporation. IQT is neither part of the CIA nor is it a government agency. However, IQT is party to and bound by a Charter Agreement and annual contracts with the CIA. These agreements provide for appropriate insight and oversight of IQT by the government. The CIA and IQT senior officials keep Congress informed of IQTs activities.
Interesting data from their 2020 990 filing
According to the filing, the non-profit's mission is “In-q-tel identifies, adapts, and delivers innovative technology solutions that serve the national security interests of the united states government and its allies.”.
When referring to its actions, they were described as: “In-q-tel identifies, adapts, and delivers innovative technology solutions that serve the national security interests of the united states government and its allies.”.
- According to the law, the state of operation reported by the non-profit is DE.
- As per the filing, the address of the non-profit for 2020 is 2107 WILSON BLVD Suite 1100, ARLINGTON, VA, 22201.
- According to their form, the non-profit as of 2020 has a total of 195 employees.
- Does not operate a hospital.
- Does not operate a school.
- Does not collect art.
- Does not provide credit counseling.
- Has foreign activities.
- Is not a donor-advised fund.
- Is not a private foundation.
- Expenses are greater than $1,000,000.
- Revenue is greater than $1,000,000.
- Revenue less expenses is $27,864,943.
- The CEO compensation plan of the organization is determined by an independent party's review and approval.
- The organization has a written policy that describes how long it will retain documents.
- The organization has a foreign financial account.
- The organization has 12 independent voting members.
- The organization was formed in 1999.
- The organization has a written policy that addresses conflicts of interest.
- The organization is required to file Schedule B.
- The organization is required to file Schedule J.
- The organization is required to file Schedule O.
- The organization pays $43,946,206 in salary, compensation, and benefits to its employees.
- The organization pays $0 in fundraising expenses.
- The organization provides Form 990 to its governing body.
- The organization has minutes of its meetings.
- The organization has a written whistleblower policy.
- The organization has grants to organizations.
- The organization's financial statements were reviewed by an accountant.