Israeli venture capital fund Jerusalem Venture Partners and New York City have listed ten finalists in the NYCx Cybersecurity Moonshot Challenge, a contest offering to fund worth over $1m. from JVP.
The cybersecurity competition, in an alliance with the Mayor’s Office of the Chief Technology Officer and the New York City Economic Development Company, lured over 160 cybersecurity start-ups from 18 nations, all presenting solutions to assist small companies in protecting themselves from cyberattacks.
Among the candidates, 37% of start-ups were based in the US, followed by 25% from Israel and 15% from South Korea. Candidates addressed a wide range of cybersecurity needs, including software security, authentication, cloud security, end-level, and network security, privacy, and IoT.
According to the latest investigatory report by Verizon, a total of 43% of data infringements involved small business victims.
Hailing from seven nations, the finalists have all pledged to expand their activities to New York. Along with the winner receiving a $1 million funding opportunity, all the selected finalists have been offered a spot at JVP’s “scalarator,” located at HUB.NYC. The winning firm would be declared in October when the hub is scheduled to open.
Finalists embody Akeyless, NeuraLegion and Perimeter 81 from Israel; Cyglass and Todyl from the US; Alpha Strike Labs from Germany; Nimesa Technology from India; Seald from France; VU from Argentina and Safety Platform from South Korea.
In October 2018, the NYCEDC declared the selection of JVP and Tel Aviv-based company innovation professional SOSA to lead the institution of a global cyber ecosystem in New York.