Acceleration program for cybersecurity startups commence in Ukraine

Acceleration program for cybersecurity startups commence in Ukraine

The winning prize is USD 1mln

Incubator 1991, Hacken and Ukroboronprom set on organizing a six-month acceleration program for startups in the field of cybersecurity. The winner wiil receive up to USD 1mln financing.

20 international experts in the field of information security will be assigned to make assessments of the pitches. The jury formed from the representatives of the incubator 1991, HackIT, Microsoft, Dragon Capital, NSDC, Hacken will choose only five projects from the final presentations that meet certain criteria. Among these criteria, there are requirements for the solution of complex industrial tasks in the field of cybersecurity of Ukraine and the availability of a scalable idea with a focus on the global market.

The Acceleration Program, called 1991 Cybersecurity Program, is intended to help early stage start-ups to test their products in cooperation with large Ukrainian enterprises so that they can scale ideas up for the global markets.

The winner of the demo-day will receive USD 1mln. Other participants may seize an opportunity to implement the solution in accelerator partner companies, but without funding.

The program will be financed in the frames of the ICO of the Hacken project, and the volume of investment will actually depend on the results of the ICO, the organizers explain.

The 1991 incubator will also provide access to the services of their partners, the cost of which amounts to about USD 120K if paid. The project of the state concern Ukroboronprom Cyber ​​Guard will afford the start-ups an opportunity for obtaining an expertise from the National Security and Defense Council, the Cyberpolicy and the Security Service of Ukraine.

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