The names of the participants of the CyberAccelerator UA—the first in Ukraine acceleration program for product and service companies in the field of cybersecurity—revealed.
Based on USAID Cybersecurity for Critical Infrastructure of Ukraine Activity’s market assessment the volume of the Ukrainian domestic cybersecurity market in 2019 was estimated to be about $ 100 million. Half of this amount is the procurement of the public sector and state-owned enterprises with the leading share of hardware products. The critical areas for cybersecurity development are public-private cybersecurity infrastructure development projects, outsourcing, outstaff cybersecurity services, and cybersecurity products/services for export.
The USAID Cybersecurity Activity is a 4-year project aimed at strengthening Ukraine’s cyber preparedness and cyber resilience. The project aimed, in particular, to support the development of small and medium-sized businesses in cybersecurity and promote partnerships and investment ties.
“The global market for cybersecurity products and services is expected to grow to $ 250 billion in 2-3 years. We are helping Ukrainian cybersecurity companies gain market share and hope they succeed,” said Tim Dubel, USAID’s Cybersecurity Activity.
What the CyberAccelerator UA is
The CyberAccelerator UA is one of the components of the USAID Cybersecurity of Critical Infrastructure of Ukraine Activity. Implements the acceleration program SocialBoost, headed by data protection expert Halyna Vasylevska, Master of Laws in Technology and Entrepreneurship (Cornell Tech), CIPP / US.
During the three-month CyberAcelerator UA program, the selected product and service companies receive mentoring support and assistance from cybersecurity and business development professionals. During the acceleration, participants are expected to develop a clear strategy and business plan to promote their cybersecurity solutions in the market.
Here is the first cohort of accelerator:
- Cyberlands BV
Cyberlands offers companies and corporations replicated and scalable cybersecurity tests and audits, and forms and trains teams capable of conducting security audits. Specializes in API & Mobile Security Assessment (iOS, Android), Kubernetes.
The team actively works with partners—solution distributors and integrators and sells technologies in white-label format, i.e. with the ability to use the brand of the intermediary.
- H-X Technologies
The second participant in the program, H-X Technologies, conducts audits, implements information security standards, helps maintain their implementation, working with the full cycle of the process for industrial security. The company offers its customers Security Operations Services (SOC) on the SaaS model. Additional benefits of the service include elements of IT risk insurance. They offer services to banks, fintech and blockchain companies, businesses in the SaaS, automotive, IoT industries, critical infrastructure companies and more.
- Intelli Group
The IntelliGroup team is a kind of outsourced IT department. Build and maintain all processes in the client’s company related to the IT component, eliminating the need to hire several specialists with different expertise. The peculiarity of the project is that it focuses on working with small and medium-sized businesses. The founders note that SMEs in Ukraine often cannot afford information security services, so they set themselves the task of developing a standard of protection that will be available to small businesses.
- ITEXE
The ITEXE team is from the financial sector and fintech business, so they offer security services to banks, credit institutions, insurance, brokerage companies, stock exchanges, and payment services. They have three key areas. The first—pentests on the principles of black/gray/white labels. The second is an audit of the system and security processes. The third is the introduction of Security Operations Centers (SoC) on the principle of SaaS, by subscription. Such a center provides security control of all systems and monitoring of incidents and intrusion attempts 24/7.
- once.REST
once.REST works on data anonymization and encryption tools. Among the solutions offered by the team is, in particular, counteraction to unwanted interference, available to customers without special training. This is one of the few projects in the acceleration program that works in the B2C segment: once.REST products are of interest not only to companies that operate on sensitive data but also to individuals—anyone who may be forced to issue cryptographic keys.
- Radar
Radar monitors the appearance of personal user data in the darknet to warn of a leak as soon as possible. The company notifies the user that the data has been compromised and gives recommendations for protection: password changes, blocking of bank cards, etc.
In the near future, the team plans to test a new business hypothesis, offering services to companies—those who risk financial and/or reputational losses due to data leakage of their customers.
- Sekurno
Sekurno is an IT service company that is developing a whole range of security services. These are pentests, security process audits and compliance with the implementation of international standards GDPR, ISO27001, ISO9001, SOC2, consulting and implementation of cybersecurity processes in the development process, security operations support. Offers services primarily to technology businesses and companies working on business process automation. Sekurno services are also in demand by companies that work with personal customer data and are subject to mandatory regulation, and those who work as a vendor with an Enterprise-level business.
- Security Steps
Security Steps—a service of automated training, verification and monitoring of knowledge in the field of protection against information attacks. This is an educational project that helps to teach information and cyber hygiene to employees of various departments. In this way, the company reduces the chances of stealing commercial information or customer data, in particular—by methods of social engineering. The course administrator can monitor the course, see the level of awareness of employees—individually or in groups—identify weaknesses and fill gaps in team knowledge to secure the company’s network.
- Ukrainian Interbank Payment Systems Members Association ЕМА
The Ukrainian Interbank Association of EMA Payment Systems Members is developing an online service for tracking unauthorized payments with web and API interfaces based on Anti-Fraud HUB within the acceleration program.
The target audience is primarily banks and various financial services that can exchange information in order to stop such payments in time and return the money to the client. The product may also be of interest to law enforcement, simplifying and speeding up the investigation of cybercrime crimes. And users of banking and payment services, in turn, will be able to increase the chances of a refund.
- Unlink VR Inc.
Unlink VR is an integrated post-quantum encryption system. Builds secure information exchange channels using post-quantum cryptography and the principles of quantum physics. The team plans to provide a service based on SaaS models with a package subscription, pay as you go with payment for an API call. The target audience of the project is banking and financial institutions, stock exchanges, traders, telecom. The company offers special conditions and discounts for government agencies, institutions and enterprises.
The CyberAccelerator UA team announced the involvement of international level specialists with specialized expertise in cybersecurity and business development. Also, graduates of the program are promised access to the Seed Grant Fund from USAID, the total amount of which is up to $ 3 million, plus assistance in attracting investment from partner funds.
Details about the selection for the second cohort of participants of CyberAccelerator UA will be announced in the near future, along with news about the success of the current recruitment teams.
