The competition, supported by BAE Systems, is open worldwide to researchers and small businesses with annual sales up to £5 million (GBP). Applicants must offer a technology innovation that can be used to prevent, defend against, recover from or cope with terrorist incidents and other criminal acts in the digital/online space. Entry is free and applicants can enter on the GSC's website: www.globalsecuritychallenge.com
Top contenders of previous Global Security Challenge competitions have subsequently raised over $52 million USD in new capital.
Janeen Chupa and Simon Schneider, the founders of the Global Security Challenge, said: "Cyber security is a problem costing the public almost $1 trillion (USD) and yet there is not even an accepted definition of it. This is why we, together with BAE Systems, will reward those who work to defend not only a citizen's, but a corporation's and a government's right to operate freely on the web." David Mullin of BAE Systems, a sponsor of the Cyber Security Challenge, said: "Cyber Security is a key area for us to further invest in, both because of the wide range of issues currently faced and the breadth of work being done in the space."
The importance of cyber crime has been rising as the global cost of cyber crime hit $1 trillion USD last year, according to a recent study by McAfee. For more information, or to apply, for the Cyber Security Challenge 2009 visit: www.globalsecuritychallenge.com. Entry closes on 15 May 2009.
Key dates Deadline for submissions: 15 May 2009. Announcement of finalists: June 2009, in London. Entry Criteria
About Global Security Challenge The Global Security Challenge LLP (GSC) is a central hub for security innovators, start-ups and investors. Its partnerships with leading universities and businesses offer a unique platform for security focused start-ups and researchers by lending business acumen and by linking innovators, industry leaders and government officials. The GSC is a valuable launching pad for security innovation and each year over $500,000 USD is awarded in its world leading competitions to entrepreneurs and researchers within the security technology field. The mission of the GSC is to stimulate technological innovations that make airports, cities and enterprises safer without encroaching on civil liberties.
Simon Schneider and Janeen Chupa founded the Global Security Challenge whilst studying at the London Business School, and gained experience in the security technology sector at IBM and the US National Security Council respectively. The GSC is supported by Accenture, BAE Systems, ONR Global, PegasusBridge Fund Management, Smiths Detection, TSWG, and the US Department of Homeland Security.
About BAE Systems BAE Systems is a global company engaged in the development, delivery and support of advanced defence, security and aerospace systems in the air, on land and at sea. We have major operations across five continents, with customers and partners in more than 100 countries. Within BAE Systems, Investment In Innovation supports inventors and entrepreneurs by offering a range of funding options, assistance and routes to market to accelerate the development of future capabilities. We work primarily with SMEs and academia to meet the requirements of BAE Systems' defence and security customers.