Tag Archive for: Startups

J-K plans to set up incubator for cybersecurity-related startups


Jammu and Kashmir administration is planning to set up a dedicated incubator for cybersecurity-related startups to promote local industries.

Under its recently launched Cyber Security Policy, the administration will also outsource relevant research and development projects to the corporate sector. It is also mulling to provide special fiscal and non-fiscal incentives to cybersecurity firms operating in the union territory (UT) according to the prevailing government policies.

”The government of J-K shall set up a dedicated incubator for cyber security related startups. The UT shall also develop a venture capital model to provide assistance to first generation entrepreneurs, startups and small and medium-sized enterprises (SMEs) operating and intending to enter in this field (cybersecurity),” the policy document said.

Jammu and Kashmir would endeavour to conduct Cyber Security Expos to showcase the advantages of the indigenously developed products by SMEs and Startups, it said.

”This will ensure a platform for cybersecurity enthusiasts to interact and discuss the latest developments across the globe,” the document read.

It said the government would award a certain number of cybersecurity contracts every year to SMEs incorporated in Jammu and Kashmir and devise a mechanism to ensure transparency in the allotment procedure.

”To boost the local industry, special fiscal and non-fiscal incentives will be given to firms operating in Jammu and Kashmir as per the prevailing policy(ies) of the J-K government,” it said.

”Startups Incorporated in Jammu and Kashmir will be provided access to government applications to showcase their product as proof of concept (PoC). These projects may be converted into full-scale government contracts, post performance reviews,” it said. According to the document, the government will enter into strategic partnerships with the private sector to set up infrastructure such as cybersecurity training and development labs, which in turn will facilitate the development of new products. ”To ensure safety at the supply end, the government shall work with Internet Service Providers (ISPs) to help individuals assess the existing security levels and devise…

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UNSW takes top spot for number of new start-ups and spinouts


UNSW Sydney has ranked number one nationally for the greatest number of new start-up and spinout companies founded in 2021 through technology developed at UNSW. The latest Survey of Commercialisation Outcomes from Public Research (SCOPR) Summary Report revealed that UNSW supported 10 spinouts – 14 per cent of the 69 companies established across Australia. This figure is up from five companies in 2020, where UNSW placed an equal third. Of the 10 spinouts, six were founded by UNSW staff members. 

The spinouts established in 2021 include: 

Infinity Avionics provides optical sensors, thermal sensors, and radiation sensors designed for space asset monitoring, space robotics, space-based manufacturing, and earth observation. Infinity Avionics was named the Start-up of the Year in the 2022 Australian Space Awards. 

EnerJin provides hardware and data platforms to enable clients to assess solar energy generation potential in unconventional locations. 

Zyteum is a revolutionary technology company changing the face of Internet of Things (IoT) security and transactions such as distributed supply chain. 

CHELTech develops technology that can provide an efficient and cost-effective way to produce hydrogen from splitting water using renewable energy.  

RadioDynamic Therapeutics commercialises a unique UNSW drug delivery technology where drug release is spatially localised and triggered by light and/or clinical radiation.  Key applications are in rectal cancer and gene therapies. 

Kandui Technologies manufactures products from waste materials and has partnered with The SMaRT Centre at UNSW, which has developed a series of waste-to-product technologies.  

Vesi Water provides market disruptive, smart and sustainable solutions to the water industry utilising proprietary technology developed in collaboration with UNSW to harvest fresh water from airborne humidity, creating fresh water where none exists. 

LM Plus develops unique liquid metal-based technology that can improve the efficiencies of the electronic and optical-based systems of the future. 

Healthy@Home develops telehealth solutions for chronic condition management including Chronic Obstructive Pulmonary Disease (COPD)…

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Ping Identity Debuts $50M Venture Fund to Back IAM Startups


Identity & Access Management
,
Security Operations

Ping Ventures Will Support Startups Building the Next Generation of Identity Tools

Ping Identity Debuts $50M Venture Fund to Back IAM Startups
Anton Papp, head of corporate development, Ping Identity (Photo: Ping Identity)

Ping Identity is rolling out a $50 million in-house corporate venture fund to support identity and access management technology startups, betting it can spot, fund and integrate cutting-edge technology into its own stack.

The Denver-based identity vendor says Ping Ventures will back new businesses in fields such as online fraud and risk services, real-time identity verification, identity and data access governance, decentralized identity, machine identity, experience automation, and dynamic authorization and entitlement.

See Also: Fireside Chat | Zero Tolerance: Controlling The Landscape Where You’ll Meet Your Adversaries

The company’s investing approach won’t be the same as traditional venture capital, says Anton Papp, Ping Identity’s head of corporate development.
“There are strategic reasons behind why we are making investments. And because of that, there’s much tighter integration with our products and back to subject matter experts in the company,” he tells Information Security Media Group.

Ping Ventures will serve companies seeking seed, Series A and Series B funding and will make investments ranging from $500,000 to $5 million each. The company hopes to make between three and four investments each year and expects offer follow-up support to portfolio companies over the next couple of years, allotting $50 million (see: Cloudflare One Brings Email Security, DLP, CASB Together).

Startups that receive funding from Ping will benefit from access to the company’s subject-matter expertise,…

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What SMEs and startups should do to ensure they are not soft targets for cyber threats


India has the third largest start up ecosystem in the world, and industry reports suggest that it will double up to cross the one lakh mark in the next few years. The country is also home to around 3.36 lakh Small and Medium Enterprises (SMEs), which account for significant employment generation. According to the SME Chamber of India, the Micro, Small and Medium Enterprises account for a considerable 37.54 percent of GDP.

India’s startups and SME network are crucial to its aim of reaching the $5 trillion economy target. However, SMEs and startups are prone to several problems; the most prominent are ubiquitous cyber threats. 

SMEs and startups operate on a low scale with limited means, and do not have the resources to bear the loss of even a single day of work. However, the sudden outbreak of the COVID-19 pandemic didn’t allow them to prepare for the ensuing remote and hybrid work culture.

They rushed through the transition to opt for mechanisms that could ensure the flow of productivity. And more often than not, they chose to ignore the essential security precautions taken by larger enterprises. The result was that several organisations became prone to cyber threats.

There are several downsides to cyber attacks. While the company incurs upfront financial losses, they also lose business and reputation. In addition to this, they have to face lawsuits and regulatory penalties as an implication of the breach. Most cybercrimes result in the loss of sensitive data, making it pertinent for the authorities to take action against the organisation.

Increasing cases of data breaches and cyber attacks

SMEs and startups readily embraced digital transformation over the last one and half years as it opened up new avenues for businesses, but it has also created opportunities for cybercriminals to target their weak or non-existent cybersecurity infrastructure.

According to an industry estimate, India is now second in global ransomware payouts in cyberattacks. The coronavirus pandemic emerged as the biggest challenge for businesses and IT organisations in 2020.

Amid the pandemic, the volume and sophistication of cyber threats and data breaches grew at a rapid pace and the biggest victim of these…

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