America Builds 036: Tess Hatch, Partner at Bessemer Venture Partners
May 5, 2024
Tess Hatch, a Partner at Bessemer Venture Partners, focuses on investments in defense tech, AI, and autonomous systems. She explores the Department of Defense's increasing reliance on innovative technologies to enhance military travel and operational efficiency. The conversation highlights the unique partnerships between startups and the DoD, emphasizing streamlined procurement processes and the impact of social media on national security. Tess also discusses the funding complexities in defense, including non-dilutive options for emerging companies.
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DoD Is Embracing Startup Innovation
- The DoD is undergoing a technological transformation and increasingly partners with startups.
- Bessemer believes working with startups will drive innovation and protect citizens more cheaply and faster.
OTAs Accelerate Defense Procurement
- OTAs (Other Transaction Authority) provide faster, capability-based contracting for novel tech.
- These mechanisms reduce barriers for startups compared with traditional prime-focused procurement.
How Bessemer Defines Defense Tech
- Define defense tech as businesses with DOD as a core growth pillar and a defense-specific GTM.
- Consider dual-use or commercial companies that plan to expand into government sales.