Silicon Safe (Cambridge and Adastral Park, UK), the cyber security company, today announces that it has been awarded a £25,000 Proof of Market grant by the UK’s innovation agency, formerly known as the Technology Strategy Board (TSB). This award will help fund market research into market requirements for protection against the theft of usernames, passwords, biometric data and other sensitive or critical data.
In recent months, cyber thefts at eBay (145 million records) and Anthem (80 million patient details) have highlighted the inadequacies of current software-based security solutions. The theft of customer data requires users to reset their login details and undermines brand confidence. For companies, cyber-attacks can severely damage business reputation, and are very costly and time-consuming to resolve.
In April 2013, ex-Citrix duo Dr. Will Harwood and Roger Gross invented a hardware-based authentication appliance specifically designed to protect logon credentials. Secrets are isolated at the hardware level – they can be stored and checked for accuracy, but it is impossible to steal them over a network connection to the appliance.
Roger Gross, CEO of Silicon Safe said “We know that these grants are competitive and want to thank the TSB for their support. The Proof of Market grant will enable us to assess the widest commercial viability of our products through market research, market testing and competitor analysis. Live customer trials of our technology start in March and we are keen to combine the TSB-funded research with specific feedback from Beta customer deployments before a commercial launch later in 2015.”
ENDS
For further information:
Nick Milner
Milner Strategic Marketing Ltd
nick.milner@milnerltd.com
+44 (0)1473 633124
Chloe Purcell
Milner Strategic Marketing Ltd
chloe.purcell@milnerltd.com
+44 (0)1473 633123
About Silicon Safe:
Silicon Safe is a hardware company specializing in the Cybersecurity market. Founded by experienced IT and security professionals in 2013, Silicon Safe uses a unique hardware design which is currently pending patent approval. The first product, Password Protect, is being deployed with Beta customers and is available to be tested via the company’s “Hacker Challenge” at https://challenge.siliconsafe.com/.
Silicon Safe was recognized with a runner-up prize in the Tech Trailblazers awards in 2015. The company is headquartered in St John’s Innovation Centre, Cambridge and has its technical facilities at Adastral Park, Martlesham.