◤ Background
Federal, state and local governments around the world play a critical role as the connective tissue of their respective societies – expected by their citizens to create, adjudicate and enforce the law, construct and maintain critical infrastructure, administer safety-net services for those most in need, be an impartial steward of the common good – to name just a few core functions.
With such a large role in our society, not surprisingly, it takes a lot of technology to operate government. We define "govtech" as the technology infrastructure (ie. software tools mostly, but hardware too) that government departments use to do their internal work or deliver services to their “customers” ie. citizens. Around here we like to say govtech is the "operating system" of government.
A $450 Billion dollar global market, government technology had not historically been the domain of startups. However, in the past few years, a converging of trends including shortened sales cycles, significant departmental budget constraints, government adoption of the cloud, the rise of open data, etc. has created a ripe environment for venture-backable startups to emerge.
And govtech startups are only starting to scratch the surface of the opportunity that lies ahead given that the public sector, in aggregate, is the largest single employer in the U.S. with over 22 Million employees working in 90,000+ municipalities, thousands of state departments and massive federal agencies. Many of these departments are still operating on custom technology solutions built in the 1980s (!). And the U.S. is not alone – governments around the world have the same legacy technology challenges.
When you put it all together, we believe a multi-decade government technology innovation cycle has just begun...
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We look forward to keeping you updated of our progress as we embark on this exciting journey. Here we go!
Cheers,
Ron Bouganim
Founder & Managing Partner
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