3 Accelerators Solving Covid-19'sCybersecurity Crunch

Entrepreneurs and cybercriminals have at least one thing in common: a nose for opportunity. With attacks worsening, leaders need the talent and tools to fight back.

Hackers know companies weren't prepared for the shift to remote work forced by the pandemic. Since last September, the frequency of ransomware attacks has more than doubled. Even companies developing a vaccine for Covid-19 have been targeted.

The problem runs deeper than unprotected home networks and devices. Market-driven cuts to cybersecurity staff have left companies vulnerable. And with networking events cancelled, even those in the position to hire are having trouble sourcing talent.

To find cybersecurity staff and software they can afford, entrepreneurs are turning to accelerators. Here are three hotspots:

1. CyberTech|X Accelerator, Tampa Bay Wave

First founded as a meetup, Tampa Bay Wave is now a nonprofit that helps tech entrepreneurs build and protect their startups. With the launch of its latest cohort program, CyberTech|X Accelerator, it hopes to turn the Tampa Bay area into a nationally recognized cybersecurity hub.

With a $100,000 donation from local foundation Bellini Better World, as well as funding from EY and area cybersecurity giants A-LIGN and KnowBe4, the program kicked off in September. CyberTech|X Accelerator connects the region's tech startup community with other cybersecurity workforce development efforts, including the University of South Florida's cybersecurity degree programs.

"The CyberTech|X Accelerator idea was created to address the essential need to cultivate and develop tech and cybersecurity talent here in Tampa Bay," says A-LIGN CEO Scott Price. "We realized that to attract and retain this highly sought-after workforce, we needed to expand our tech and cybersecurity ecosystem to one that welcomes and attracts innovative startups and provides them with the resources they need to be successful."

Companies selected for the accelerator receive one-on-one mentorship from tech founders, including pitch coaching, investment readiness programs and introductions to prospective investors and customers. Its strategic partners at Cyber Florida, the University of South Florida's Muma College of Business, Aditum and Jabil also lend their expertise and networks to the program's cybersecurity startups.

2. Inventors to Founders

A new accelerator program out of Columbia University in New York is converting academics and students into cybersecurity entrepreneurs. Their mission? To make the internet safer for everyone.

I2F launched in February, following a $3.2 million investment from the New York City Economic Development Corporation's cybersecurity initiative, Cyber NYC. As James Patchett, chief executive of NYCEDC, told the Wall Street Journal, "This program is about getting the best ideas that are coming out of academia and turning them into companies that will create jobs and ultimately make the world a better place."

One of those world-bettering ideas comes from participant cohort NC-Hash. Founded by City College of New York professor Rosario Gennaro and a team of his computer science students, their solution was designed to stop users from disseminating revenge porn.

Inspired by a 2017 conversation Gennaro had with Alex Stamos, then chief security officer at Facebook, the project was completed in months. But while Gennaro was satisfied, student David Hadaller wouldn't rest until the team brought the tool to market - which they're now doing with I2F's help.

Prior to Covid-19, the Big Apple hosted dozens of startup accelerators, but never one whose entire focus was cybersecurity. I2F is changing that.

3. MACH37

Having launched in 2013, MACH37 is the granddaddy of this bunch. Then funded entirely by the Virginia state government and operating as a division of the Virginia-based Center for Innovative Technology, it's now a leading accelerator for information security entrepreneurs and cybersecurity startups. In 2020, it became fully owned and operated by VentureScope, a startup consulting firm.

MACH37 resembles other accelerator programs in that it provides participants with seed money, mentorship and access to professional networks in exchange for equity. Where it stands out from the rest is in its focus on validating product ideas and helping startup founders build relationships that will yield an initial customer base and pool of investors. In another standout move, it's made the wellbeing of startup founders one of the pillars of its program since 2018.

This past August, MACH37 announced its investment in Cervais, which develops products designed to provide endpoint protection to Internet of Things (IoT) devices. Cervais uses advanced data forensics and monitoring techniques to detect breaches. With such forward-looking investments, MACH37 retains its high standing among cybersecurity accelerators.

Like Covid-19, cyberattacks can make businesses feel they're besieged by an invisible foe. Luckily, cybersecurity solutions are out there, and these three accelerators are bringing them to light.

This Article Source is From : https://www.forbes.com/sites/johnhall/2020/10/18/3-accelerators-solving-covid-19s-cybersecurity-crunch/#5124a8301e71

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