In-Q-Tel Inc.
Norman Augustin proposed to CIA director George Tenet that they create an organization that would repeat the business model of Silicon Valley and would work mainly in the same place. Through venture investments, it was supposed to attract the most promising and influential companies to cooperate, give them money and freedom of action, and, in return, receive advanced tools for searching and analyzing information. In-Q-Tel’s initial budget is $30 million per year.
For the successful functioning of the fund, it was necessary to establish interaction with Silicon Valley companies, which were leaders in the field of IT technologies at that time. To solve this problem, Gilman Louis, a video game developer from a Silicon Valley company, was brought in, who had fairly close ties with the management of large IT companies.
By February 1999, the Corporation was finally formalized as a legal entity, and in March, received the first contract from the Agency (CIA).
Legally, In-Q-Tel is independent from the CIA, which opens the way to the international arena and makes it possible to engage in intelligence activities without casting a shadow on the CIA and the US Government. To ensure comprehensive cooperation, the CIA operates the In-Q-Tel Interaction Center (Q-Interface Center, QIC). QIC voices the needs of In-Q-Tel intelligence, In-Q-Tel is looking for solutions among startups.
