The Oglethorpe Approach
In building out cutting edge solutions, heavily concentrated on collaborations between the public and the private sectors, there are five principal constituencies that have a vested interest in successful outcomes.
A&D/DI Entities
This community is responsible for priority problem generation and curation, and must own the solution coming out of the collaboration process between non-traditional firms, and the systems integrators supporting the public sector; recent example: C3.ai’s recent $95.0mm award through the Defense Innovation Unit (DIU).
Capitol Hill & Policy Makers
In addition to authorizing and appropriating funding for solving these priority problems, engagement with this group can remove the potential roadblocks public and private sector entities encounter as their businesses develop; recent example: Krotos’ FY2019 budget plus–up for their Mako and Valkyrie efforts in Oklahoma City, OK.
PE/VCs
In my experience, this group is much better suited than the public sector in determining the commercial viability of emerging technologies. As a result, mature, Series B and beyond funded companies are often times technologically viable, yet they need greater exposure to potential customers’ priority problems. Significant value creation occurs when commercially focused capabilities are substantiated through public sector engagements; recent example: LMT’s collaboration with Tempo Automation on the F-22.
Portfolio Firms & Entrepreneurs
As was pointed out earlier, the private sector, especially the tech community, is pouring billions of dollars into innovation ecosystems across the country. As a result, the best in class technologies in the domains material to DoD are now being developed by VC backed entities. If DoD cares to collaborate with these firms, facilitating the channeling of A&D/DI priority problems into these communities is the best way of building the necessary relationships for potential fee generating engagements; recent example: SpaceX’s work with NASA and the DoD.
Systems Integrators (SI)
While many of the venture backed companies may have private valuations larger than some publically traded companies, these same privately held firms are typically reluctant to incur the costs associated with becoming a low-margin service provider to the A&D/DI sectors. As a result, SI’s holding the required assets to do large-scale, public sector projects could be phenomenal collaboration partners for these non-traditional players. Combined with the annual small business set aside goals Congress outlines, these partnerships can pave the way to a liquidity event for a VC backed enterprise; recent example: Raytheon and Pivotal Labs’ collaboration on the Cobra Dane radar system.
Over the past 25 years, Oglethorpe has developed deep connections to all five of these core constituents, and perfected a business model that brings these groups into strategic alignment.
Partners
While top–tier VCs are open to engagements with leading A&D and DI entities, these activities must complement their portfolio companies’ larger commercialization glide paths, and be materially accretive to subsequent valuation rounds.
Oglethorpe maintains collaborative relationships with firms that reduce barriers to entry in performing work in the public sectors.
NWTP is a collaboration of engineering, financial and government leaders incubating strategic technologies and business ventures that have national security and public policy implications; most recently pursuing advanced cyber and electronic technologies that increase yield or reduce risk to Critical Infrastructure. Since 1978, they have introduced transformational intellectual property and launched new businesses – for entrepreneurial clients and for their own portfolio.
New World Technology leverages Oglethorpe Capital’s expertise and years of risk mitigation experience in the Energy, Financial, and Public sectors to institutional and high net–worth investors interested in next generation growth opportunities.
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