Many people dream of becoming entrepreneurs, and often the biggest...
Letting technology do the heavy lifting for certain monotonous tasks...
Payroll is more than just issuing paychecks—it’s a...
For startups seeking sustainable growth, every quarter provides...
April 29, 2021
The Defense Advanced Research Projects Agency, overseen by the Department of Defense, is expanding its pilot Embedded Entrepreneurship Initiative to bring together venture capitalists and startups developing emerging technology for the agency. The program’s focus will extend beyond biotech and microelectronics to other emerging technologies, such as AI, and accelerate up to 150-DARPA-backed innovations.
In the two years since its inception, DARPA’s EEI helped 30 pre-seed research teams raise about $110 million and led to the creation of 12 companies. EEI will move from a pilot to a permanent project with the support of IQT Emerge, an arm of the not-for-profit venture capital firm In-Q-Tel and whose mission is to connect the U.S. government innovation channel with entrepreneurship.
The program teams a venture capitalist with DARPA contractors seeking to market new technologies developed with agency funding. They will assist the entrepreneurs with writing business plans and preparing pitches for American venture capital firms. Research teams will have access to DARPA’s Transition Working Group, which comprises over 100 U.S. investors and corporations experienced in supply chain development and scaling. Researchers will receive an average of $250,000 in non-dilutive funding to hire a seasoned entrepreneur or business executive for one to two years with the goal of developing a robust go-to-market strategy for both defense and commercial markets.
The EEI’s growth is illustrative of the Department of Defense view that tech projects in areas such as AI, 5G and 6G telecommunications are essential to the U.S. economic and military over the next century, according to DARPA Commercial Strategy Chief Kacy Gerst. “More and more DARPA is investing in spaces that have a massive commercial market and a small defense market, like for example, microelectronics and biotechnology,” Gerst said in an interview. “If we want the DOD to be able to use these technologies in the future, they need to be sitting within sustainable businesses.”
DARPA has assisted in laying the foundations for some of society’s most transformational technologies, such as miniaturized GPS, the internet, smartphones, commercial space access, RNA vaccines, stealth and autonomous vehicles, to name a few. However, DARPA was reportedly finding some of the universities, firms and labs they worked with to develop emerging technologies were spinning off companies that used foreign capital. The EEI program is similar to the Defense Department’s Trusted Capital Marketplace, which screens potential investors for U.S. defense contractors to confirm they do not have connections to foreign entities.
Our team is made up of seasoned professionals who bring years of industry experience to the table. You gain a trusted advisor who understands your business inside out.
Say goodbye to the hassles of hiring, training and managing in-house finance teams. You will never have to worry about unexpected leave of absence or retraining new employees.
Whether you’re a small business or a global powerhouse, our solutions scale with your needs. We eliminate inefficiencies, reduce costs and help you focus on growing your business.
Payroll is more than just issuing paychecks—it’s a complex, high-stakes process that can significantly impact employee satisfaction, legal compliance, and...
For startups seeking sustainable growth, every quarter provides a treasure trove of data—but Q2 data can be particularly revealing. By...
By the time Q2 rolls around, many startups have a clearer picture of their performance and market positioning compared to...
For many startups, the summer months can be a dual-edged sword. On one hand, warmer weather and looming vacations can...
Tax season often triggers stress and complexity—especially for startups laser-focused on building products, acquiring customers, and scaling operations. Yet savvy...
The halfway mark of any given year is more than just a date on the calendar; it’s a valuable checkpoint...
For consumer goods companies, managing inventory efficiently is critical—not just for operations but also for financial health and risk management....
As more businesses transition to Software-as-a-Service (SaaS) solutions, data security and regulatory compliance have become top priorities. From handling sensitive...
For portfolio companies, whether backed by private equity, venture capital, or family offices, scalability is essential for maximizing value and...