"The intelligence community needs to place bets on high-risk, high-payoff research that might not work, (but if it did) would give us an overwhelming intelligence advantage over future adversaries," IARPA director Lisa Porter said in an interview at her sparkling new headquarters just outside Washington in College Park, Md. "We need to fundamentally change the way we do business."

IARPA is modeled after the Defense Advanced Research Projects Agency, which has conducted far-out research for the Defense Department since 1958.