Evolving the Intelligence Community's Investment Fund w/Yan Zheng of IQT
Abstract: The U.S. innovation ecosystem is undergoing a structural transition: breakthrough science and deep technologies are increasingly developed not only in universities and national laboratories, but also in venture-backed companies that combine scientific talent, engineering capacity, and substantial private capital. Yet public-sector mechanisms remain poorly aligned with this changing landscape, often constrained by slow decision cycles, fragmented institutions, limited funding relative to the scale of modern technology development, and processes that overlook innovators outside traditional channels. These mismatches weaken the translation of research into deployable capabilities, leave critical technical bottlenecks underfunded, and reduce the nation’s ability to anticipate global competition.
A path forward requires a more expansive and connected innovation model—one that pairs public mission-setting and over-the-horizon investment with active technology scouting, rigorous technical and market diligence, flexible milestone-based development, and stronger bridges among startups, universities, national laboratories, investors, and end users. By supporting shared infrastructure, objective benchmarking, strategic convening, and portfolio-based experimentation, this model can mobilize diverse sources of talent and capital while managing risk. The result is an innovation ecosystem that is faster, more inclusive, and better equipped to convert scientific progress into durable technological and economic advantage.
Speaker Bio: As EVP of Strategic Engagements, Dr. Zheng leads policymaker engagements, drives national technology strategy, and helps coordinate IQT activities against national priorities and missions. Prior to this role, Dr. Zheng served as Chief of Staff, and VP, Technology, leading investments in microelectronics, semiconductors, and quantum technologies to solve critical mission challenges facing the U.S. National Security Community.
Before IQT, Dr. Zheng was at Booz Allen Hamilton, where he provided technical advising for the Defense Advanced Research Projects Agency (DARPA), including developing technical goals across a diverse set of technology areas such as thermal management, directed energy, RF communications, microelectronics, and photonics. While at DARPA, Dr. Zheng was the lead coordinator for the Electronics Resurgence Initiative (ERI) — a large-scale, multibillion-dollar effort to boost U.S microelectronics innovation.
In addition, Dr. Zheng served as an IEEE congressional fellow in the office of Senator Chris Coons where he focused on developing policy to boost U.S. R&D, support domestic manufacturing, and spur innovation and economic growth. Dr. Zheng helped with the initial development of the Foundation for Energy Security and Innovation (FESI) to commercialize innovative energy technologies, which later became law in the CHIPS and Science Act of 2022.
Dr. Zheng holds a bachelor’s degree in electrical engineering from the University of California, San Diego, and a doctorate in electrical engineering from the University of California, Santa Barbara.
About the DC Industrial Policy Salon
The DC Industrial Policy Salon was started by Nicholas Wagner, Founder of Learning Journey AI, in 2026. It convenes leading experts and policymakers to discuss issues of science, technology, and industrial production in Washington, DC. To learn more about our events, please visit https://dcips.net.