Global cybersecurity challenge for Filipino entrepreneurs

MANILA, Philippines - Young Filipino entrepreneurs are now given the chance to build their knowledge in cybersecurity and win $50,000 or over P2 million prize fund as Kaspersky Lab recently announced a brand-new global initiative designed to identify and nurture new talent for the security industry.

Kaspersky Lab invites Filipino cybersecurity-savvy entrepreneurs to compete in its Security Startup Challenge (SSC) and have an opportunity to learn and develop a technology startup. Kaspersky Lab will also give a post-program support to the winning team aside from the prize fund.

The second and third place winners will take home $20,000 and $10,000 (or more than P800,000 and P400,000), respectively.

Online registration for the workshops and the main program is now open to interested participants aged 18 to 35 at www.SSC2015.org. The closing date for application is on Apr. 28.

SSC is a mentor-driven acceleration program developed and implemented by the Kaspersky Academy, in partnership with venture industry leaders Mangrove Capital Partners and the ABRT Venture Fund.

It will provide startups with projects in cybersecurity and related areas, such as financial tech, healthcare, mobile, the Internet of Things, and the Cloud, access to cutting-edge business, cybersecurity and cross-industry expertise from around the world.

“As the cyberthreat landscape becomes more and more dangerous, the world needs new ideas, new concepts and new approaches to cybersecurity. As a result, there’s been a significant increase in venture funding of early-stage startups in the industry,” said Eugene Kaspersky, chairman and CEO of Kaspersky Lab. “Young entrepreneurs today have an excellent chance to build a truly successful company. Technology startups have been massive wealth-generators for their owners and for society as a whole over the last few decades. Our company was a startup not that long ago, and I can confirm that it feels great to fight the bad guys and build your own business from scratch while doing so.”

Cyberthreats have become a global problem and their number and sophistication continue to evolve significantly. Kaspersky Lab currently detects 325,000 new malicious files every day. Last year, the company’s products detected and neutralized a total of 6,167,233,068 threats. 

Running from March to August, the Security Startup Challenge 2015 will comprise a preliminary series of two-day workshops, in Jerusalem, Berlin, San Francisco, Singapore and Moscow.

This will be followed by a three-month acceleration program which will include distance team work and two bootcamps in Luxembourg, culminating in a grand finale event at the Massachusetts Institute of Technology in the US.

 Applicants are required to submit individual proposals upon registration. A special committee will conduct the selection process, identifying the individuals and teams with the most promising, innovative or exciting proposals. Young entrepreneurs picked for the Security Startup Challenge will be informed through email or phone by Kaspersky Lab.

Selected participants will meet in Luxembourg where the groups will be formed. Members of each team will have to get in touch with each other through online. SSC challenge participants will also be required to check in with their supervisors on a weekly basis during the duration of the three-month program.

Under the guidance of more than 30 experts, participants will gain a deeper knowledge of the cybersecurity industry, extend their business and startup skills, and learn how to harness the two areas to build a successful business.

The program offers access to cybersecurity professionals, venture capitalists and seasoned entrepreneurs to help new businesses create a global professional network.

“Technology megatrends such as mobile, cloud computing and the Internet of Things are leaving consumers increasingly, and unwittingly, exposed to cybercrooks. Perhaps more worrying is the fact that criminal syndicates operating on the Internet are as scalable as any other Internet-enabled business,” said Michael Jackson, partner at Mangrove Capital Partners. “We need to innovate our approach to cybersecurity to meet the demands of this new hyper-connected world. This accelerator, the first of its kind, will bring together cybersecurity startups from all over the world and ensure that those which hold the most promise receive all the help and support they need to grow at Internet speed,” Jackson added.