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News

Entries Invited For The Fifth 500k Dollar Global Security Challenge

Global Security Challenge : 21 June, 2010  (Company News)
Start-ups and SME companies are eligible to submit their security innovations to the latest Global Security Challenge
The fifth annual Global Security Challenge competition, the largest and leading international competition for security innovators, is open for entries. The competition offers security entrepreneurs the opportunity to showcase their inventions and compete for over $500,000 in cash support sponsored by TSWG of the US Government.

The competition aims to identify, explore and foster innovation in the field of homeland security technology. The goal is to support the development of innovative technologies and ensure their success. Applicants can enter the competition, on the GSC's website, in two categories depending on the maturity of the idea. Entry is free and all submissions will receive feedback. The deadline for applications is July 7, 2010.

Top contenders from previous Global Security Challenge competitions have subsequently raised over $78 million in new capital.

Kromek the 2009 winners secured $18.9M in funding following their triumph. TRX Systems, the 2008 winners of the Most Promising Security Start-Up award, secured $2.0M in new investment, growth and further development of their security technology since winning the award. Phil Davies from Noble Peak Vison the 2007 winner added: "Customer interest in our night vision technology soared from the publicity we received after winning the 2007 GSC. As a direct result we are now developing new camera systems with major OEM's and systems integrators."

The 2010 competition will include a number of regional semi-finals held in Europe, Asia and America and will culminate with the Grand Final in London on November 11th and 12th. Now over two days to include more time for networking, presentations and speakers. Not only do the winners of the final will receive cash grants, mentorship and networking opportunities but they also secure invaluable publicity and exposure.

Commenting on the competition, Richard Wilson Director of the GSC said: "The Global Security Challenge is proving to be a very successful competition. Each year we have seen increasing numbers of entries with the entrants gaining access to a deep network of government, venture capital and corporate organisations as well as academics."

"Technological innovation is the key to staying ahead of the threat to international security posed by terrorism. However, innovation doesn't always come from large established players, which is why a forum like the Global Security Challenge is so important. No other organisation offers start ups and SME's the platform and visibility that the GSC does."
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