How to Evaluate Emerging Tech Fast

How to Evaluate Emerging Tech Fast

A lot of the best technology has been developed for commercial purposes, not the government. Companies must innovate continuously in order to stay viable and of the highest quality in the marketplace, and the government needs to leverage this commercial tech to remain competitive globally. Access to these cutting-edge solutions is essential—especially during a crisis like the coronavirus outbreak—but working with private sector tech solutions can be risky. Or at least that is the perception.


The real question is: How do we conduct a thorough vetting of emerging tech solutions from the private sector to decrease the risk, while not stalling innovative progress? After all, the stakes are high. No one wants to take the blame for bringing in tech that can’t scale, ultimately wastes taxpayer money, and fails to better serve Americans. As the old adage goes, “No one ever got fired for hiring [insert mega-corporation here].”


How can government leaders mitigate risk and still get the cutting-edge solutions they need quickly? Start by taking a page out of a venture capitalist’s handbook. 


The similarities between venture capital and the government are very strong. Both are writing sizable checks for capabilities that they hope to scale for big outcomes. For VCs, due diligence is arguably the most important part of the investment process. It’s a rigorous investigation of the investment opportunity as whole, including multiple phases to screen technical, financial, and operational factors. Investors know where to look and what to look for, which is why I encourage the government to “research like an investor.”


However, those in the private sector who evaluate commercial emerging tech companies don’t always know what to look for when it comes to th ..

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