In-Q-Tel

In-Q-Tel (IQT), formerly Peleus and known as In-Q-It, is an American not-for-profit venture capital firm based in Arlington, Virginia. It invests in high-tech companies for the sole purpose of keeping the Central Intelligence Agency, and other intelligence agencies, equipped with the latest in information technology in support of United States intelligence capability. The name, "In-Q-Tel" is an intentional reference to Q, the fictional inventor who supplies technology to James Bond.

The firm is seen as a trend-setter in the information technology industry, with the average dollar invested by In-Q-Tel in 2012 attracting nine dollars of investment from other companies.

History

Originally named Peleus and known as In-Q-It, In-Q-Tel was founded by Norm Augustine, a former CEO of Lockheed Martin and by Gilman Louie, who was In-Q-Tel's first CEO. In-Q-Tel’s mission is to identify and invest in companies developing cutting-edge technologies that serve United States national security interests. Origins of the corporation can be traced to Dr. Ruth A. David, who headed the Central Intelligence Agency Directorate of Science & Technology in the 1990s and promoted the importance of rapidly advancing information technology for the CIA. In-Q-Tel now engages with entrepreneurs, growth companies, researchers, and venture capitalists to deliver technologies that provide superior capabilities for the CIA, DIA, NGA, and the wider intelligence community. In-Q-Tel concentrates on three broad commercial technology areas: software, infrastructure and materials sciences.