IT security: start-ups and opportunities in Bavaria
German companies’ losses due to cyber attacks amount to roughly EUR 55 billion a year according to the latest estimates of the Federal Office for the Protection of the Constitution (Bundesamt für Verfassungsschutz). Bavarian IT security start-ups want to do something to counteract this figure under the motto “Safety first”. Entrepreneurs are to be protected against identity theft, extortion and espionage attacks thanks to their innovative solutions. All of this is aimed at driving the digital transformation forwards – without having to think about cyber crime.
At the same time, the issue of IT security is a vast field that requires several measures for secure digital work: whether it’s the complex and sensitive networking of Industry 4.0 or handling big data and the Internet of Things. The solutions from the Bavarian start-ups are therefore dealing with protection against extortion, industrial espionage or identity theft as well as securing customer payments with online payment systems and protecting intellectual property. The flexibility that start-ups bring with them help companies respond to changing threats in an agile manner. Close cooperation allows start-ups in turn to get to know the companies’ requirements inside out and tailor their solutions to these.
Aspiring and established companies
Bavaria’s range of start-up ideas offers the following solutions, for example:
- Crashtest Security: a safety test for SMEs who work in an automated manner in real time to provide targeted protection against cyber attacks.
- Boxcryptor by Secomba GmbH: end-to-end “Made in Germany” encryption for Dropbox, Google Drive and co. For this, data is provided with zero-knowledge encryption before synchronising it to the cloud.
- Alyne: SaaS solution combining IT security and RegTech. Allows companies to develop both IT security and risk management as well as compliance skills and measure the implementation’s level of maturity.
Established firms, like Brainloop AG, a leading provider of cloud-based solutions for working with confidential documents or the Bavarian company Rohde & Schwarz Cybersecurity, which protects public institutions and firms worldwide from attacks, speak first and foremost for the young start-ups chances of success in Bavaria.
Opportunities and networking for start-ups
To support the development of start-ups, Bavaria provides them with funding through various programmes and institutions. These include the Security Network Munich, which has the remit from the Bavarian Ministry of Economic Affairs to invest in IT security and promote exchange between companies and research institutions. And the Security Network is implementing this, for example, with the annually organised TechDays. Innovative start-ups, global successful corporations, first-class research and a creative digital scene are meeting under the motto “Digital Innovation” on 13 and 14 May, 2018 at Muffatwerk in Munich. Interactive formats are to bring visitors and stakeholders together and encourage dialogue. The programme includes panels, tech talks, workshops, live hackings and a symposium with a high-calibre line-up. In addition, there is an exhibition area for start-ups, a demo zone where product innovations are presented and the innovation gallery with the latest projects from universities and research institutes.