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Cyber security specialist Trend Micro launches $100m venture fund

 960 640 Stuart O'Brien
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Trend Micro has launched a corporate venture fund to explore emerging technology markets with an initial investment of $100 million.

The fund will nurture a portfolio of startups that are incubating ideas in hyper growth markets, such as the Internet of Things (IoT).

Japan-based Trend Micro cites Gartner data, which estimates 26 billion devices will be connected to the Internet by 2020

Eva Chen, founder and chief executive officer for Trend Micro, said:”Trend Micro’s vision has always been to make the world safe for exchanging digital information. The explosion of devices is transforming how the world works, thinks and acts. It is clear that the ecosystem is still evolving and there is work to do to ensure organisations and individuals can operate and live safely in this new reality.”

Trend Micro’s venture will offer companies financial backing, access to its global threat intelligence, strategic alliances, as well as its channel of more than 28,000 partners.

In return, the company says working with these investments will uncover insights into emerging ecosystem opportunities, disruptive business models, market gaps and skillset shortages – influencing its cybersecurity solution planning.

“We have a 29-year history of successfully anticipating technology trends to secure all types of environments,” said Chen. “The first mega wave we caught was the growth of the PC marketplace; we committed early on to endpoint protection and remain a Leader in Gartner’s Magic Quadrant for Endpoint Protection Platforms today2. The second mega wave was all about the cloud; we made a bet early on to securing the cloud and so far we have secured over two billion workload hours on Amazon Web Services (AWS) alone. Now, we believe the next wave has arrived with IoT; our fund will help us harness this opportunity.”

 

Tim Cook

Apple and Cisco team up for cheaper corporate cyber security insurance

 960 640 Stuart O'Brien
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Apple and Cisco Systems have teamed up on an initiative they claim should enable businesses to secure cheaper cyber security insurance.

The tech giants shared a stage in Las Vegas to pitch the idea that if companies are using a combination of their respective technologies, which both claim are more secure than rivals such as Android, then this should be reflected in the pricing of premiums.

There were few details of how this would work in practical terms, but Apple CEO Tim Cook (pictured) said: “The thinking we share here is that if your enterprise or company is using Cisco and Apple, the combination of these should make [cyber-security] insurance cost significantly less. This is something we’re going to spend some energy on. You should reap that benefit.”

Cisco elaborated a little further in a blog post, stating that the partners were “collaborating with insurance industry heavyweights… to offer more robust policies to customers.”

One area the company is looking at is continuous security monitoring, with checks and balances available to insurers so they can see if systems have been set up and configured correctly.

It’s an interesting development, which will almost certainly illicit a response from rivals in the corporate IT and software sectors.