In-Q-Tel: Innovation On A Mission

In 2022, the leaders of In-Q-Tel (IQT) considered what was next for the unique mission-driven organization. Since 1999, IQT had one mission: to be the most sophisticated source of strategic technical knowledge and capabilities to the U.S. government and its allies. IQT played a dual role for the national security community: to both inform the Intelligence Community (IC) with technology insights and to deliver cutting-edge capabilities. Its technical team identified sectors of interest, followed by investment professionals engaging with companies that had promising applications for the U.S. government. Recent years had seen an expansion of IQT’s activities through a growing team of in-house technologists, international expansion, “situational awareness” reports, a new program to help federally funded researchers commercialize promising solutions.
In the context of rapidly changing (and increasingly intertwined) technology and geopolitical landscapes, the IQT team had several big questions to consider: What was the right scope and complexity for the organization? IQT had expanded office geographies and activities, but IQT faced increased requests from government partners – such as countering offers to U.S. technology companies from foreign acquirers. What was the appropriate portfolio risk? Success for IQT went beyond just financial returns – but IQT needed to find a tolerable balance of potential failure. Lastly, how could the organization recruit the right talent to accommodate this growth? Recruiting and retaining talent was increasingly difficult in a competitive labor market.