Competition to discover new security technology announces five finalists
21 September 2006 - THE organisers of a competition to find some of the world’s most promising security technologies today named five finalists.
The Global Security Challenge (GSC) is organised by MBA students at the London Business School and sponsored by Smiths Detection, part of the global technology business Smiths Group, the US Navy’s Office of Naval Research and University College London.
The winner of the $10,000 prize will be announced at the GSC Conference in London on October 26.
The five finalists have developed technologies that can identify people by the way they walk, prevent passport counterfeiting, protect databases, detect bioterrorism agents and carry out accurate surveillance at a distance of up to 5,000 feet in the dark.
The competition aims to find the most promising security technology start-up business and is the first business school competition to feed the growing market for new security technology.
Simon Schneider, co-director of the GSC and a former homeland security consultant with IBM, said: “This annual competition is a measured response to the terror threats we face and an innovative way to advance technology in this growing sector.”
The finalists were chosen from around the world by a panel that includes scientists, entrepreneurs, venture capitalists and a London Business School professor.
Stephen Phipson, Managing Director of Smiths Detection, said: “Technology has driven the growth of Smiths Detection. Contributions from academia and start-up businesses give us a competitive edge and help us to develop a world-leading business serving the homeland security sector. We are delighted to be associated with this exciting new global initiative.”
In addition to the cash prize, the winning business will also receive mentorship by Siemens Venture Capital, to help them bring their product to market, and will be invited to the Security and Resilience Forum being held by Smiths Detection in London on October 31.
The GSC has been welcomed by senior political figures in the US as a creative approach to foster entrepreneurship and encourage security advancements.
The US Senate Majority Leader Bill Frist said: “The GSC is an example of the innovative thinking we need to stay ahead of the security curve.
“It is a unique approach to uncover the entrepreneurs working in their garages on the next wave of technologies that will make our nation safer.
“Often these entrepreneurs do not even know about the potential security application of their inventions and the GSC will provide a great forum to bring innovators, government and industry closer together.”
The five finalists are:
Global Security Challenge
The Global Security Challenge (GSC) is an annual competition to find the most promising security start-up in the world. The students behind the project have gained experience in the security technology sector with IBM, the US Army, CISCO Systems, the British Army and the National Security Council at the White House. The mission of the Global Security Challenge is to stimulate technological innovation that will make us all safer without encroaching on civil liberties. For more information visit www.globalsecuritychallenge.com
Simon Schneider Telephone: +44 (0) 20 7000 7251
Smiths Detection is one of four operating divisions of Smiths Group. Smiths Detection offers technologically advanced security solutions to detect and identify explosives, chemical and biological agents, weapons, and contraband, plus specialist applications for life sciences and food manufacturing industries. Employing trace detection technology together with Smiths-Heimann x-ray imaging, Smiths Detection provides security solutions for customers in homeland security and defense markets worldwide.
Contact: Richard Bayliss. Tel: +44 (0)1923 658106
London Business School
London Business School’s vision is to be the pre-eminent global business school. The London Business School is ranked 1st overall in the Financial Times assessment of European graduate business schools. The school graduated over 800 MBAs, Executive MBAs, Masters in Finance, Sloan Fellows and PhDs from over 70 countries last year, while the executive education department serves 6,000 executives and corporate clients on its programmes. For more information visit www.london.edu
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