Govt launches award to laud breakthrough startups in cyber security, Technology News, ETtech

With an aim to promote a culture of innovation and entrepreneurship in the Cyber Security startup ecosystem, the Ministry of Electronics & Information Technology (MeitY) and Data Security Council of India (DSCI) have launched the Cyber Security Grand Challenge.

The award will include a cash prize of Rs 3.2 crore to a startup doing breakthrough work in this area. Registrations for the award are currently open and DSCI will be administering the Grand Challenge and the whole process will run for nine months under various stages.

Launching the challenge, Ajay Sawhney, Secretary, MeitY, said, “The Grand Challenge is a first of its kind initiative encouraging cyber security entrepreneurs to innovate and develop solutions for critical cyber security problems and demonstrate capabilities. It is an opportunity to gain mentorship and guidance under the best cyber security experts. Start-ups will receive intensive mentoring on various aspect such as technology, building global solutions, go to market strategy, etc.”

Under Grand Challenge, participants need to create solutions around six defined problem statement areas which include Microservices, IoT, Biometrics, Hardware Security, etc. In the Idea stage, 12 shortlisted teams will receive Rs. 5 Lakh each and 6 teams will receive Rs. 10 lakh each in the MVP stage. Multiple mentorship workshops will be conducted to guide the participants throughout the grand challenge. The winning team with the best judged solution will receive a grand prize of Rs. 1 Crore whereas 1st runner up and 2nd runner up will receive Rs. 60 Lakh and Rs. 40 Lakh respectively.

Rama Vedashree, CEO, DSCI, said, “We are proud to partner with Ministry of Electronics & Information Technology to conceptualize and launch the Cyber Security Grand Challenge which endeavors to solve critical Cyber Security problems and give impetus to innovation and entrepreneurship in the Indian Cyber Security Start-up ecosystem. We had the privilege of working with the Government and Industry to curate compelling problems statements and orchestrate a first-of-its-kind Grand Challenge.

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