Monday, September 13, 2021

Doing Business with the Federal Government

 Yes, I know.  You do not need to repeat it. But since you likely will, so will I.  “That is like saying I am from the government and I am here to help.”

Got that out of your system? 

You can do business with the federal government and it can be a profitable partnership.  And that includes start-ups. Yes, I know. You are asking “but George, how is that possible?” as you roll your eyes. 

Well, start with the defense industry.  You may engage in some red tape, but preparation and planning are essential to initial success.  The U. S. Dept. of Defense (DOD) awarded $445 billion in contracts in 2020.  Perhaps equally, if not more important, the Pentagon actively seeks and recruits technologically oriented firms to solve challenges they cannot easily overcome. As noted in the link on this post, DOD awarded $1.5 billion in early stage funding to 1,635 small businesses.

While I can go on, I suggest you read this excellent article by Mrinal Menon and Jeff Decker, PhD in Fast CompanyFast Company is one of my new “must reads”.  If you are a technology oriented company, you likely will not regret it. Link to article:

https://www.fastcompany.com/90634168/why-the-defense-industry-could-be-the-most-transformative-market-for-startups


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