Symantec (News - Alert) and Frost Data Capital have teamed up to start a tech incubator that is meant to fuel innovation in cybersecurity, especially when it comes to analytics, big data and the Internet of Things (IoT).
The two 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 help solve the raft of 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 of 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 cybersecurity – especially in the realm of IoT technologies where verticals like process control, automotive, health care and energy require specialized skills.”
The partners said that they 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 cybersecurity analytics.
“We’re seeing a huge opportunity in the IoT security market,” said John Vigouroux, managing partner and president of Frost Data Capital, which plans to contribute seasoned entrepreneurs, proven innovation methodology and process, and deep expertise in big data analytics, IoT, industrials and healthcare.
He added, “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 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," Forrester Research (News - Alert) noted in a recent report. "CISOs have an opportunity to take a more proactive stance in working with startups by driving their technology road map and communicating security needs."