In this white paper, Orin Hoffman, a Venture Partner at The Engine, proposes a new approach to help early-stage technology companies face some of the most challenging barriers to success.
As Hoffman, former Chief Technology Officer for Defense Innovation Unit, notes, “Tough Tech startups face different regulatory and financial hurdles than typical venture-backed companies. While both the VC community and the federal government independently support the tough tech ecosystem, tighter coordination of these efforts is necessary to unleash the full economic and societal potential of these foundational companies.”
Interestingly, the white paper discussed current issues with government support and includes “high overhead to find and apply to the myriad of available government grants in a timely manner. Biases funding towards companies already ‘in the game’,” as a key challenge these companies face when trying to work with government.
At Public Spend Forum, we’ve identified those challenges and issues as well. We even built GovShop
with this in mind as the tool to address those barriers for industry. By leveraging matching and getting found by government customers through GovShop, companies can dramatically reduce overhead for finding and applying to opportunities.
We’re also continuing the work to identify barriers companies face when working with government. The goal of our recently launched survey is to idenify additional barriers so we can work toward identifying solutions.