Global Security Challenge's final to be held 13 November

Are you running a homeland security start-up? read on. The Global Security Challenge, the largest international security forum, offers $500,000 to innovative start-ups (unfortunately, the deadline for submission of entries was 15 June).

The competition offers security entrepreneurs the opportunity to showcase their inventions and compete for up to $500,000 in cash grants. Note that top contenders from previous Global Security Challenge Competitions have subsequently raised over $52 million in new capital.

The organizers say that the competition aims to identify, explore, and foster innovation in the field of homeland security technology. The goal is to support the development of innovative technologies and ensure their success.

TRX Systems won the GSC’s 2008 Most Promising Security Start-Up award and attribute a large proportion of their subsequent success to the Challenge. Dr. Carole Teolis, CEO of TRX Systems, commented “Winning the 2008 Global Security Challenge afforded us additional credibility in the investor community. The recognition also helped reinforce our competitive advantages within our customer base.”

The 2009 competition will include six regional semi-finals held throughout Europe, Asia, and North America and will culminate with the grand final at the GSC Security Summit held at London Business School on 13 November 2009. The winners of the final will receive cash grants, mentorship, and publicity and exposure. Mentors come from the world’s leading venture capital funds, including Hummer Winblad and Civitas Group.

The founders of the Challenge Simon Schneider and Janeen Chupa comment: “The Global Security Challenge has become the must-attend event for people who want to make deals in early-stage security technologies. We are proud that our top contenders from previous competitions have subsequently raised over $52 million in fresh capital.”