Axios Newsletter – 11/15/17
CA's Mike Gregoire says the federal government is spending too much on old technology.
How badly does Washington need new tech ideas? Pretty badly, says CA chief executive Mike Gregoire, noting that the federal government spends $80 billion on IT and, of that, $65 billion is on systems that are 10 to 15 years old or older.
What's happening: To get more ideas headed the government's way, Gregoire is launching a challenge offering $100,000 in money to startups with ideas on how things could be done better.
- Five finalists will get $5,000 with the overall winner getting $75,000 plus access to CA's internal accelerator, a program previously only available to startup ideas from within the company. (CA has been using the accelerator to incubate startup-like business ideas within the company.)
- That said, the winners don't have to sell their idea to CA and are free to go it alone or team up with one of the many systems integrators that specialize in selling technology to the government.
- Applications are due in December with the finalists to be announced in February.
"Once they have the idea kickstarted, it's a free market," Gregoire tells Axios. "If we think it could be a product for us maybe we take it to the next level."