COLUMBIA, Md., January 19, 2022 (Newswire.com) - Bearing Technology LLC, with offices in Colorado and Maryland, announced the launch of its FOCI Accelerator this morning.
Companies with certain levels of foreign ownership are facing challenges fulfilling Government demand for their products while incurring extensive legal and operational costs to mitigate FOCI security concerns. With Federal spending averaging about 37% of GDP each year (United States Government Spending to GDP, 2021) the Federal market represents a huge opportunity for startups that can't be ignored. The Government needs to move faster with the deployment of innovative technologies to meet their mission needs and keep up with nation state adversaries.
Bearing sits at the crossroads between the two, helping startups quickly and inexpensively access the Federal Market while helping the Government acquire technology desperately needed from cutting-edge companies.
"Our approach allows FOCI startups to gain access to Federal business in weeks rather than years, realizing organic revenue growth with manageable incremental costs," said George Young, Partner, Bearing Technology LLC.
Bearing's accelerator is based on Gov Cloud Plus compliant solutions along with the required registrations for commercial products to help ensure Government Agency and mission security and anonymity.
"Requiring the latest technical innovations to fulfill its mission, Bearing's unique approach to FOCI mitigation helps the Government acquire and deploy products from startups at scale, quickly and securely," said Dave Harrison, Partner, Bearing Technology LLC.
To learn more, please visit https://www.bearingfx.com.
For Additional Resources, please visit https://www.bearingfx.com/blog.
US Bureau of Economic Analysis. (n.d.). United States government spending to GDP2022 DATA: 2023 forecast. United States Government Spending To GDP | 2022 Data | 2023 Forecast. Retrieved, from https://tradingeconomics.com/united-states/government-spending-to-gdp
Bearing brings together tech startups falling under Foreign Ownership Control and Influence (FOCI) with the US Government to help drive commercial innovation in the Federal Marketplace - quickly and securely.
Source: Bearing Technology LLC