On the 11th November two overall winners will be crowned at the GSC Grand Summit, with the best security start-up receiving $200,000 (£124,471) support and mentorship from Advent Venture Partners, while the winner of best SME will receive $300,000 (£186,707) and mentorship from the Carlyle Group.
The winners of the Cyber Security Challenge will be announced the next day on the 12th November, where there will be up to ten finalists in the running.
An annual business competition for security innovators and researchers, the GSC is now in its fifth year and has proven itself a key contributor to improving national and personal security through technology, and a catalyst for bringing some of world's best security companies to the attention of investors and customers.
There are thirteen finalists in the running for the GSC: iWebGate; Invincea; Biogy; Safend; DecaWave; BriefCam; ID-U Biometrics; mPedigree; Fotegrafik; ScanTech's Sentinel; MacroUSA; Lincoln Advanced Technology; and NIMTech.
Richard Wilson, director of the GSC, said: “Innovative companies are key to addressing changing threats without the need to encroach on civil liberties. Often excellent companies fall by the wayside because they don't have access to funding, whilst investors don't have the confidence to invest because the technology is so specialised. This competition solves that by getting experts to identify the world's most promising security SMEs and start-ups, then bringing them together to pitch their ideas to investors.”
Last year's Global Security Challenge winners were Kromek (UK) for best security SME and Adaptive Imaging Technologies (Israel) for most promising security start-up. Winners of the second annual CSC will receive a $10,000 cash award, sponsored by BAE Systems and exclusive mentorship by Accenture.