In today’s sophisticated threat landscape, innovation is a critical component to an effective defense strategy.
That innovation typically comes to bear at the tiny technology companies, whose goal, in most cases, is to create that next big thing, so the firm can go public or get acquired.
But with the economy in ruins, investors are growing increasingly wary of taking chances with their money. As a result, the funding needed to support startups – in our case, those focused on IT security – is drying up ever so quickly.
According to the Arizona Republic, venture capitalists nationally invested $7.1 billion in 907 deals this year compared to $7.8 billion in 981 deals last year.
So it was certainly good news to hear this week of plans by the University of Texas at San Antonio to launch an incubator inside its Institute for Cyber Security.
It works sort of like a hospital incubator might for a premature baby – IT security firms who face challenges that prevent them for launching on their own can turn to the incubator to “fast track their product development efforts and expedite time to capital, market and profitability.”
In return, participants must agree to “significant collaboration” with university staff.
While the incubator only stands to help a few companies at a time, hopefully it will encourage other universities to embark on similar missions. For more information, visit here.