U.S. Secretary of Defense Ash Carter announced that the Defense Department will start making venture investments at TechCrunch Disrupt SF.
The initiative will build off of work that the Central Intelligence Agency has been doing for years. Financed by Congress, the Central Intelligence Agency implemented a similar program, In-Q-Tel, in the late 90s. In-Q-Tel is staffed by private citizens at the request of the sitting CIA director. Launching just before the Dot Com bust, the program had a rough start but managed to come back with an impressive lineup of startups. The Defense Department will be piggybacking off of the project.