Fulton, MD, August 16, 2023 — DataTribe, a global cyber foundry that invests in and co-builds next-generation cybersecurity and data science companies, today opened its call for applications for the 2023 Cybersecurity Startup Challenge. The deadline for submissions is September 23rd.
The competition identifies pre-series A, technology startups with a vision to disrupt cybersecurity and data science. Three finalists will split $20,000 in prize money, and one winner will be eligible to receive up to $2 million in seed capital from DataTribe. Over the past five years, DataTribe has made seed investments in six Challenge winners. Last year's winner, BalanceTheory, secured a $3 million funding round in December 2022. Code Dx, the 2019 Challenge winner, was acquired by Synopsys in 2021.
"Over the past five years, the DataTribe Challenge has helped to accelerate the development of several innovative cyber startups," said John Funge, managing director of DataTribe. "We are looking for visionary entrepreneurs on a mission to use their expertise of offensive cyber and over-the-horizon technologies to build the next generation of cyber defenses."
"The Challenge is designed to be as founder-friendly as possible. Unlike other pitch competitions, founders that participate are truly fundraising — with a chance to get a significant seed investment," said Mike Janke, Co-founder of DataTribe, "We believe this approach provides tremendous value to founders, leads to applicants of the highest quality, and is a big reason why the Challenge has grown to be one of the premier cybersecurity startup competitions in the world."
DataTribe invites contestants who have developed a robust concept and/or have initiated the development of a minimum viable product. The Challenge receives applications from founders with a wide range of cybersecurity backgrounds including from national security, defense, national laboratories, organizations specializing in cybersecurity and data science R&D as well as commercial firms.
DataTribe will review submissions for technical merit, market potential, and team readiness. On October 12, 2023, DataTribe will announce up to three finalists. These teams will then have two weeks to refine their pitch and prepare for final judging, with assistance from DataTribe’s team of startup veterans. In a live event, finalists will present a pitch and answer questions from judges on November 2, 2023.
"Winning the 2022 DataTribe Challenge was a significant step forward for us," said Greg Baker, Balance Theory CEO and Co-Founder. "DataTribe's approach to co-building with us has proven to be huge. Between the resources, expertise, and network, we have gotten so much more out of the relationship than just capital. DataTribe is way more than just an investor."
To apply for the 2023 DataTribe Challenge, please visit https://datatribe.com/challenge.
DataTribe is a startup foundry that invests in and co-builds world-class startups focused on generational leaps in cybersecurity and data science. Founded by leading investors, startup veterans and alumni of the U.S. intelligence community, DataTribe commits capital, in-kind services, access to an unparalleled network, and decades of professional expertise to give their companies an unfair advantage. DataTribe is headquartered in the Washington-Baltimore metro area, in Fulton, Maryland. For more information, visit https://datatribe.com.