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10/23/2018
04:25 PM
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Barclays, Walmart Join New $85M Innovation Coalition

Innovation incubator Team8 recruits major partners, investors to create new products that help businesses 'thrive by security.'

A new coalition of major finance, retail, aerospace, and technology firms has secured an $85 million capital investment to build new companies and products that are secure by design and drive "digital transformation." 

The coalition is led by Team8 — the Israel-based innovation incubator that generated threat deception company Illusive and IoT security company Claroty. Walmart, Airbus Defense and Space, Dimension Data, Munich Re, Moody's, Barclays, Softbank, and Scotiabank have all joined. The effort's $85 million capital investment is being provided by Team8's existing investors, including M-12, Microsoft's venture capital arm, Nokia, Cisco Investments, Bessemer Venture Partners, Temasek, and Innovation Endeavors. 

"Thrive By Security" is the coalition's mantra. Because many companies find security to be a barrier to the adoption of new technology, the coalition aims to create companies that enable the adoption of new technology. Its approach will focus on using cybersecurity as a catalyst for growth and building security into infrastructure and data science.  

Any companies spun out of this project will operate independently and share ownership with investors.   

Read more details here and here.

 

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ChristopherJames
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ChristopherJames,
User Rank: Strategist
10/30/2018 | 10:46:15 PM
Re: I think that
Companies are bound to benefit from this coalition especially as they aim to thrive in this modernizing era. Cybersecurity poses its own risks and it becomes a crucial aspect of running a business to maintain to avoid losses in the long run. Every effort matters to stay ahead of advancing cyberattack techniques.
UdyRegan
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UdyRegan,
User Rank: Apprentice
10/29/2018 | 1:18:10 AM
I think that
I think that it will be wonderful to see what kind of innovations are going to be coming out of this think tank. At the moment, it looks like there are a lot of exciting things that are going to be developed. Hopefully it will be something that the smaller companies will be able to take part in. At the end of the day, it's the small guys that lose out of such technological advancements so it would be good if they were accommodated in these developments!
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