Abstract
Partnering with a private venture capital firm is believed by many to be an innovative governmental approach to engage the commercial information technology (IT) sector. In-Q-Tel, a venture capital (VC) fund, is under contract with the Central Intelligence Agency (CIA) to promote the integration of cutting edge IT that could enhance the capabilities of the intelligence community. The CIA's relationship with In-Q-Tel involves investing CIA funds in promising commercial technologies and the companies associated with those technologies. This paper explores the potential benefits of membership in the In-Q-Tel portfolio of companies. The paper describes the value executives from portfolio companies associate with their relationship with In-Q-Tel. Our research determined that executives find several specific membership advantages associated with the In-Q-Tel's portfolio including access to an established network of investors and technology users within the government, technical validation of member companies' products, and funding provided to finance product development and/or operating expenses. We also found that executives felt that the long-term strategic prospects for company success improved because of their membership in the In-Q-Tel portfolio.