Should Australia Mimic U.S. Quantum Computing and Advanced Technology Efforts?
The CIA’s investment fund is stalking Australian tech startups and has opened a local office
Excerpts and salient points ~
+ … Mr Ferrari led the company’s investment in startups that focused on building artificial intelligence and machine learning technologies, and emerging platforms such as drones, space, robotics, augmented reality, and virtual reality. He also helped it invest in companies building enterprise software and infrastructure, and advanced analytics software.
“This partnership with In-Q-Tel will help ensure Australian agencies have access to new technologies which can boost our national security capabilities.”
+ “They were invited by the Australian government,” an industry source said of In-Q-Tel, adding they believed the fund had an estimated $US400 million ($573m) to invest globally. According to fund tracking site CrunchBase, In-Q-Tel has poured money into more than 178 companies.
+ Australia’s defence spending for fiscal year 2019–20 rose by $2.3 billion to $38.7 billion, the government announced in its annual budget in April. Funding over the the three fiscal years beyond the new budget will total $136 billion, with the estimate for 2022–23 set at $48.7 billion.
Source: The Sydney Morning Herald. Ben Grubb, The CIA’s investment fund is stalking Australian tech startups and has opened a local office…
Content may have been edited for style and clarity.