Symantec and Frost Data Capital partner to incubate cyber security and IoT startups

Date: Mon, 08/03/2015 - 12:53

Partners to launch and grow up to 10 security and IoT analytics startups per year
Symantec and Frost Data Capital partner to incubate cyber security and IoT startups

Jeff Scheel, SVP, Strategy, Alliances and Corporate Development at Symantec

Image credited to Symantec

Symantec and Frost Data Capital announced a partnership to fuel innovation in cyber security analytics, big data and Internet of Things (IoT) security. Symantec and Frost Data Capital will create and seed early-stage startups with funding, resources and expertise. These startup companies will receive access to Frost Data Capital’s data analytics ecosystem and deep knowledge and will have the opportunity to collaborate with Symantec to solve the most complex challenges shaping tomorrow’s threat landscape.
“We’re taking a fresh look at driving innovation in the market and this partnership will enable Symantec to transform raw ideas and concepts into meaningful security companies,” said Jeff Scheel, SVP, Strategy, Alliances and Corporate Development at Symantec. “By collaborating with Frost Data Capital, we create an environment primed to incubate new, innovative and disruptive startups in cyber security – especially in the realm of IoT technologies where verticals like process control, automotive, health care and energy require specialized skills.”
The partners will take nontraditional steps to confront the next generation of threats targeting emerging technologies by incubating up to 10 companies per year that will deliver advanced cyber security analytics. Frost Data Capital underpins the incubator with seasoned entrepreneurs, proven innovation methodology and process, and deep expertise in big data analytics, IoT, industrials, and healthcare.
“We’re seeing a huge opportunity in the IoT security market,” said John Vigouroux, managing partner and president of Frost Data Capital. “We’re excited to work with Symantec to bring cutting-edge, relevant security analytics solutions to market rapidly, in order to prevent next generation cyber attacks on corporate infrastructures. Symantec brings to the table world-class security technology, global presence and strategic relationships that will be instrumental to launching these startups.”
Recent Symantec research shows cyber attackers are leap-frogging defenses in ways companies lack insight to anticipate. Further complicating security efforts, criminals are increasingly leveraging legitimate technology, like enterprise software and corporate management tools, as well as emerging technology, such as, connected devices, to carry out attacks.
"New ways to protect enterprises from targeted attacks are needed, and startups are accepting the challenge," wrote Tyler Shields, Jennie Duong, and Rick Holland in a report from Forrester Research . "CISOs have an opportunity to take a more proactive stance in working with startups by driving their technology road map and communicating security needs."

Source: Forrester - RSAC Innovation Sandbox Finalists Spur Ingenuity In Security April 20, 2015 By Jennie Duong, Tyler Shields, Rick Holland with Stephanie Balaouras, Josh Blackborow


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