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RSA Conference Announces New Investment Program to Support Cybersecurity Innovation
SAN FRANCISCO, Nov. 21, 2024 /PRNewswire/ — The RSA Conference, recognized as a premier event in the cybersecurity sector, has unveiled an exciting initiative set to commence in April 2025. The Top 10 Finalists of the RSAC Innovation Sandbox (ISB) contest will now receive financial backing to accelerate their innovative solutions aimed at countering emerging cybersecurity threats. This investment program is designed to empower startups with essential capital, supporting their endeavors to bolster defenses against an increasingly complex landscape of cyberattacks.
Celebrating its 20th anniversary in 2025, the RSAC ISB contest has become a vital platform for fostering innovation within the cybersecurity startup ecosystem. With an annual influx of approximately 150 applicants, the competition serves as a crucial avenue for showcasing groundbreaking ideas that have reshaped the cybersecurity industry. The event attracts over 750 participants, including investors, cybersecurity experts, entrepreneurs, and media representatives, all keen to witness the innovative presentations from the ISB finalists.
The prominence of the RSAC ISB contest has amplified the visibility and recognition for its Top 10 Finalists. Since its inception, these finalists have collectively attracted over $16.4 billion in investments and have been involved in more than 90 mergers and acquisitions. A distinguished panel of judges evaluates the submissions and selects the Top 10, who then showcase their business models at the RSA Conference in San Francisco, culminating in the selection of a winner.
Starting in 2025, each of the Top 10 Finalists will be awarded a substantial $5 million uncapped Simple Agreement for Future Equity (SAFE) investment, courtesy of affiliates from Crosspoint Capital Partners. Dr. Hugh Thompson, Executive Chairman of RSA Conference, emphasized the vital role of continuous innovation in cybersecurity, stating, “As attackers evolve their methods, cybersecurity startups must innovate to stay ahead. Our enhanced support for the ISB finalists will further fuel the next wave of cybersecurity solutions.”
Success stories from past participants underscore the significance of the ISB platform. Anthony Belfiore, Chief Security and Strategy Officer at Wiz, recounted their 2021 experience, noting the exposure garnered through the ISB helped accelerate their growth trajectory. He described the new investment program as a transformative opportunity.
The SAFE investment model is designed to provide startups with immediate capital while maintaining the flexibility needed for future fundraising rounds. Theresia Gouw, co-founding partner of Acrew Capital, highlighted the advantages of engaging with respected investors like Crosspoint Capital, noting that such partnerships can enhance a startup’s reputation and attractiveness to potential investors.
In addition to financial support, RSAC will establish the RSAC Founders Circle. This initiative aims to connect past and present ISB Top 10 Finalists with valuable resources, including mentorship, coaching, and networking opportunities with Chief Information Security Officers (CISOs). The Founders Circle will serve as an influential alumni network, with several previous finalists achieving substantial milestone successes as public companies or through strategic acquisitions.
Further details regarding the RSAC ISB submission process will be shared in January 2025.
RSAC’s Commitment to the Cybersecurity Community
The RSA Conference has a long-standing tradition of fostering key investments in the cybersecurity sector, evidenced by initiatives like the RSAC Innovation Sandbox, RSAC Security Scholar program, and various community engagement efforts. Proceeds from investments in the Top 10 Finalists will be reinvested to bolster further development and support within the cybersecurity community.
*Latest figures according to Crunchbase.
Additional insights from industry leaders illustrate the significance of the ISB competition:
Nasrin Rezai, SVP and Chief Information Security Officer, Verizon:
“CISOs like me are continuously weighing the influx of new cybersecurity solutions. The selection of Top 10 Finalists through a rigorous process effectively highlights which startups warrant further attention.”
Dean Sysman, Co-Founder and CEO, Axonius:
“Participating in the RSAC Innovation Sandbox contest is crucial for cybersecurity startups. The conference is a central hub for cybersecurity discussions, and recognition from the esteemed judging panel significantly enhances credibility.”
Rehan Jalil, CEO, Securiti AI:
“Competing in the RSAC ISB signals to the market our viability and potential, with judges assessing startups through varied perspectives, enhancing our overall standing.”
Oliver Friedrichs, Founder and CEO, Pangea:
“Being recognized as a finalist elevates a startup’s profile, attracting significant attention from investors and customers alike. The new investment initiative is a powerful endorsement of these companies’ potential.”
Dave Chen, Co-Head of Global Technology Investment Banking, Morgan Stanley:
“Many past ISB Top 10 companies have evolved into industry leaders. The contest is a launchpad for inspiring future successes in the cybersecurity space.”
Ben Colman, Co-Founder and CEO, Reality Defender:
“Winning the Innovation Sandbox contest sends a strong message to the broader market about the viability of a startup, and the new funding structure enhances our competitive edge.”
Paul Kocher, Independent Researcher, Investor, and Marconi Prize Winner:
“The Innovation Sandbox contest not only showcases innovative technology but also establishes crucial connections for entrepreneurs with key industry participants.”
About RSA Conference
The RSA Conference represents a premier series of events focused on cybersecurity, fostering discussions on current and emerging challenges while providing access to expertise for individuals and organizations alike. Through both in-person and virtual events, RSAC serves as a global stage for sharing insights, exploring innovations, and strengthening defenses against cyber threats. For further updates on the cybersecurity sector, visit www.rsaconference.com.
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