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The government technology (“govtech”) industry is an emerging ecosystem that has the potential to transform governments. The paper maps out the ecosystem and provide a quantitative understanding of its growth trajectory by answering the following four questions:
1. What is the definition of govtech?
2. What does the ecosystem look like?
3. How is the ecosystem changing?
4. What factors will accelerate market take-off?
In order to answer these questions, experts in the biggest govtech companies, the venture capital community, government and opinion leaders were interviewed. Moreover, the paper selected 98 of the most notable govtech companies in United States based on sources like Govtech.com’s Govtech 100 list, and tracked their private capital deal flows from 2004 to 2015. Details of the Deal Flow Database and the methodology are in the appendix.