Sep 15 2014

Virginia Incubator Accepts New Class of Cybersecurity Startups

The six startups are focused on a range of cyber-related issues, including secure Facebook messaging and incident response simulations.

Another round of startups are settling in at MACH37, a public-private cybersecurity accelerator in Virginia.

The fall cohort of companies is focused on a range of cyber-related challenges that plague individual Internet users and large enterprises, including email encryption, cryptographic software and services personnel training, as well as refining procedures for cybersecurity incident response.

“Our fall class of companies brings an impressive, innovative collection of solutions to vexing security and business issues,” announced Rick Gordon, managing partner of MACH37. “We actively engage security innovators globally who bring fresh approaches to thwarting an increasingly aggressive worldwide cyber threat.”

For example, CypherChat touts itself as a “secure messaging app for Facebook users who aren't security experts but demand a simple way to chat privately with their friends.” Another startup, SecureDB, focuses on next-generation encrypted cloud identity. In other words, its goal is to securely store authentication credentials, credit card information, personally identifiable information, and other data in the cloud or on premise.

Six companies were selected for the 90-day program, which aims to create cybersecurity startups by allowing participants to develop their ideas, with the guidance of security and business experts and entrepreneurs, and then present them to investors to attain funding. The Center for Innovative Technology in Herndon received $2.5 million in state funds to operate the accelerator.

Under the program, startups receive a $50,000 investment “to develop and launch their ideas into emerging, investable companies,” according to a media release from the center. In a July white paper, the cyber accelerator noted that last year “venture capital firms invested nearly $1.4 billion in 239 cybersecurity companies.

You can view a list of current and past startups at MACH37 here.