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Wednesday 29th May 2024, 2:00 PM (BST)

Kaspersky launches new cybersecurity startup accelerator

A new accelerator aimed at cybersecurity startups has been announced by Kaspersky Labs.

The launch of another cybersecurity accelerator highlights the rising popularity of this industry for investment, this time coming from the well-established security firm, Kaspersky Labs.

It’s a canny move that will keep Kaspersky close to any new potential business ideas while giving the participating investors a chance to grab those seed-stage businesses that look promising, especially since cybersecurity investment is gathering speed.


Popular cybersecurity accelerators

Kaspersky’s Security Startup Challenge (SCC) is the new kid on the block and this accelerator-cum-startup competition also has backing from Mangrove Capital Partners and Russian venture capitalist firm, the ABRT Fund.

SCC is a three-month acceleration program to provide startups with a cybersecurity solution the chance to get advice from industry expert mentors, with the chance for three startups to win a prize out of the £50,000 prize pot.

This latest accelerator follows hot on the heels of Cyber London, a not-for-profit organisation that was launched in the UK’s capital to create a hub for cybersecurity startups.


Data shows growing trend of investment

It seems the hot investment opportunities over the last five years are coming from cybersecurity firms, according to data from CB Insights.

Recent research from the analyst firm notes that around £4.7 billion has been invested in private cybersecurity startups over the past five years. Furthermore, around £2.7 billion of that was invested during 2013 and 2014 alone, which is nearly six-tenths of all funding in the last five years.

The growing trend is further illustrated if you take into account that between 2013 and 2014, investment in cybersecurity grew by 36 per cent.


Rules are changing

The cybersecurity landscape has evolved since the high-profile attack on Sony Pictures in November, according to analyst Gartner.

Sony’s breach has prompted many companies to reevaluate their own defences against attacks, but furthermore, it’s also making the industry reconsider what the best form of defence is.

Companies will now surely need to have formal plans of action in place to deal with aggressive attacks, the likes of which could seriously impact business activity. Moreover, instead of merely blocking and detecting the attack, key focus is now shifting over to detecting and responding to attacks.

The damage to a company following such an attack could last for some time, with ripples being felt throughout the industry, especially if confidential details were stolen during the breach.

That’s why Gartner expects the number of companies who have a formal plan of action in place to soar to 40 per cent by the end of 2018.



Top image: Kaspersky

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