Why is CIA Investing in Start-up Companies?

U.S. Nilgun Salim
http://stocknewsusa.com/wp-content/uploads/2016/08/graphic-IQTel-article-header-1024x512.jpg

In-Q-Tel is a non-profit company founded by the Central Intelligence Agency,.

According to Wall Street Journal, the American organization used public money to finance small start-up companies.

In addition, the CIA subsidiary made significant donations so they could get deals with the U.S. government.

A CIA spokesman stated that In-Q-Tel is an independent company that has nothing to do with the American Intelligence Agency.

Although they completely denied the allegations, Wall Street Journal claims that the two companies are strongly related and a group of secret agents are in charge with the small company.

Forterra Systems, a California-based start-up specialized in virtual reality received several founds from In-Q-Tel during a very rough period regarding sales.

After receiving the money from In-Q-Tel, Forterra started to create products for the military industry.

They reinvented themselves and began to close numerous important deals, including a massive contract with the U.S. government.

Since 1999 the CIA subsidiary has been strategically investing in startup companies that are used by the intelligence community. These investments are primarily enterprise software companies.

The non-profit organization started to invest in the satellite industry in 2000. According to the American publication, they even received founds from FBI and NSA.

The firm was envisioned as a way to “bridge the gap between the technology needs of the U.S. intelligence community and new advances in commercial technology,” according to IQT’s website Opens a New Window.

According to Fox Business, no one knows exactly how many people work at In-Q-Tel, but in 2012 the company listed salaries of $22,07 million dollars.