Scoop: Kevin McCarthy launches new tech and innovation institute

• The former California lawmaker — who has been traveling the world giving paid speeches and advising corporations — plans to keep one foot planted in the policy world.

What they are saying: "Our nation faces an inflection point," he writes in an open letter announcing his new plans.

• "Advancements in industries such as manufacturing, defense, energy, and artificial intelligence all have the power to propel our society forward. ... For America to continue as the world's leading force for good, our government, private sector, and idea leaders must collaborate."
• "That is why I have started the ALFA Institute, a policy and idea accelerator."

Flashback: In an Axios exit interview last year, McCarthy telegraphed his plans to stay focused on AI and how Washington can help support it.

• "I view AI as a positive," McCarthy said. "AI is where California is going to come back."

Between the lines: The institute's name — ALFA — is a nod to a NASA-designed module from the space race, chronicled in Tom Wolfe's book, "The Right Stuff," some of which was based in McCarthy's old congressional district.

Zoom in: The institute will be organized as a 501(c)(4) nonprofit, allowing it to engage in issue advocacy.

• It will advocate for pro-technology ideas and work to connect lawmakers and industry leaders.
• In many ways, the institute is an extension of the work McCarthy did in Congress where he established the bipartisan Select Committee on China to foster collaboration between lawmakers and top research universities.