This Blog "Sarb on Innovators" is to introduce innovative start-ups solutions to enterprise decision-makers to solve important and urgent challenges facing their businesses.
Not all of yesterday's solutions are able to solve tomorrow's challenges, we must consistently be ensuring that we are ahead of the challenges that lie before us, not behind them.
About the Blog?
The Blog will provide start-ups with an opportunity to present their Proof of Value information directly to decision makers. Start-ups are able to explain their innovative solution and demonstrate their willingness to work with experts in enterprises. This way they can demonstrate their solutions are enterprise ready, tested and proven to work.
We have an open invitation to start-ups interested in presenting their Proof of Value. We work with start-ups at any stage of development and maturity with their minimum viable product (MVP). The mix of different maturities is aimed at appealing to the different enterprise requirements and risk appetites, as well as their ability and willingness to work at finding the solution they need.
Any start-up interested in taking part in presenting their Proof of Concept on SaRB on Innovators will be required to understand their solution and how a Proof of Value (PoV) would work in practice and what they are willing to offer to make it work in an enterprise setting.
Why we set up this Blog?
We believe that the world and especially cyber risks and threats are changing faster than ever before and to be able to deal with them in the future there is a need to stimulate further innovation, and that such innovation will only thrive to provide lasting solutions if those start-ups are able to succeed at the Proof of Value phase quicker and more efficiently.
We see our role in first instance at helping start-ups prepare for enterprise PoV's, secondly in getting start-ups a PoC project and finally in promoting the benefits of working with start-ups to enterprises.
We hope that we are able to stimulate and enable the best and most effective solutions to combatting the shortfalls of all aspects of cyber security and technology.
Every year governments around the world talk about the number of new businesses being set up as an indicator of economic growth, they don't often talk about the numbers that don't survive as startling as the failure figures are. The percentage of technology related start-ups has been growing faster as more and more businesses rely less on employees and more on technology for business transformation.
For example, figures for the UK indicate that 90% of ecommerce businesses fail in the first 90 days. There are many reasons for this including:
- Poor online marketing - 37%
- Lack of online search visibility - 35%
- Little to no market for their products or services - 35%
- Running out of cash - 32%
- Price and costing issues - 29%
- Got outcompeted - 23%
- Retail giants dominating a large share of the market - 19%
- Lack customer service - 16%
- Poor team around them - 14%
- Product mistiming - 11%
The figures from the US are similar to the UK, with 90% of start-ups ending in failure. This research paints a different picture than the one we have seen for many years which talk about 80% that fail within the first three years. Extracts from: https://www.enterprisetimes.co.uk/2019/07/19/90-of-uk-ecommerce-startups-fail-within-120-days.
Cyber security start-ups have benefited (up to a point) in being able to both create new hardware or software, as well as new services on top of existing products and services provided by others. The industry is full of examples of companies that have been around since its infancy and have responded well to follow trends like cloud delivery models to meet the needs of individuals and enterprises more efficiently.
However, the growth in the total number of tech start-ups, have done nothing to change the fact that most applications and code within products and services are still not implemented using secure (or Privacy) by design principles. This has led to an increase in not only the total number of data breaches but also the severity in many cases. Many cyber security start-ups have spotted gaps in the market exposed by the new ways criminals are impacting people and technology.
In the meantime, the rate of growth in the number of apps and products that have programmable code in them has grown must faster than the overall percentage of code that is written with security and privacy in mind.
The most obvious guess we can make from this is that the number of data breaches is likely to continue to grow further unless someone does something to impact this. Such efforts will be compounded by newer businesses models law enforcement have observed in cyber-crime activities, and that there are more entrants into cybercrime lured by the ease in which the tools and business models work to protect them.
We believe that the world and especially cyber risks and threats are changing faster than ever before and to be able to deal with them continuously, there is a need to not only stimulate cyber security innovation, but to ensure that such innovation thrives and is sustainable for the long term. This may mean that cyber security businesses need to be treated differently than other start-ups, in that good solutions are not just left to fail on their own.
For start-ups to thrive they need to get their solution into enterprises quicker and more efficiently. Further, they need to ensure that their Proof of Value is able provide the value that an enterprise wants from such solutions.
Our role in Virtually Informed and this Blog is to:
- Help cyber security innovative start-ups prepare themselves for enterprise PoVs;
- Help cyber security innovative start-ups in getting an enterprise PoV project;
- Promote the benefits of working with start-ups in enterprises;
- Promote innovative cyber security solutions to enterprise decision makers;
In fulfilling our role, we want to stimulate greater cyber security innovation and create sustainable sectors for the long term.
How to get involved?
If you are a senior decision-maker, you can find out about how you can benefit from Sarb on Innovators by registering here.
If you are a start-up, you can find our you can find out about how you can benefit from Sarb on Innovators by registering here.
If you have an interest in start-up innovative solutions and would like to register to rate and review the solutions presented, you can register here.