Intending to “piggyback” on the work that the intelligence community has done with In-Q-Tel, the Defense Department will start making venture investments, Secretary of Defense Ash Carter said onstage at TechCrunch Disrupt.
The initiative will build off of work that the Central Intelligence Agency has been doing for years.
The CIA began planning its investment program in 1998 and launched In-Q-Tel the following year, by private citizens at the request of the then CIA director. The program is financed by Congress.
The details of the Defense Department’s program are unclear, but the U.S. military has a long and storied history working with the tech community. Believe me, we’ll be following up on this to find more about the program.