It seems our Intelligence community has finally caught up with TV. IARPA is a new agency that is similar to DARPA. Instead of Defense Advance Research Progects Agency, it is Intelligence Advance Research Progects Activity. Its function is to be to the Intelligence community what DARPA is to the Defense community.
It reminds me of the TV series "Alias" with Marshall Flinkman as the chief geek tech guy for first SD6 and then later the CIA.
Oh, by the way, it's pronounced "Yarpa".