Technology Mission fast-tracks data system launch

Enterprise Europe Network helps cyber security firm make connections with global security leaders through Innovate UK's GBIP programme.

Warden, a London-based cyber security start-up, has developed a new, faster way of helping organisations detect if their data has been lost or stolen.

It launched the system just weeks after taking part in a technology mission to Israel, organised by Enterprise Europe Network as part of the Innovate UK-funded Global Business Innovation programme.

The Global Business Innovation country visits are designed to help high-growth businesses explore and exploit opportunities in specific countries and in market or technology areas. 

In Warden’s case, EEN made the connections and introductions that could help bring their innovative technology to market more quickly.

Since the visit in February 2018, Warden has partnered with bespoke risk and resilience consultants Perimeter Group, one of the other companies taking part in the Israel mission. They have also started working with two Israeli suppliers of threat intelligence.

Co-founder and CEO Amadeo Pellicce said: “We’re delighted with how well the trip went. We had planned to take the business to market a few weeks after the visit so it was a big learning experience.

“The main benefit was being able to refine our ‘go to market’ strategy and to pinpoint which prospects we should target first. This saved us a lot of time and effort. Most importantly, it gave us the chance to see how our product is positioned within the global cyber security scene, which is very advanced in Israel.

“The visit also allowed us to peek into the future and get an idea of where the market is going to be in a few years’ time.”

Warden’s system can detect and contain data breaches up to 200 times faster than traditional methods.

Amadeo added: “On average, it takes 191 days for a business to realise there’s been a data breach. Around half of all breaches are caused by malicious third parties and these can be the most difficult to detect.

“Larger organisations can expect to experience a data breach at least once a year and, as well as suffering damage to their reputation, the financial costs can be huge – up to £2.6 million per breach.”

Warden creates fake identities for businesses to add to their data systems as dummy customers, a simple approach that does not require any changes to an organisation’s IT infrastructure or the sharing of data. When these identities are emailed by someone outside of the business, or their details appear anywhere on the internet – both the clear and dark web – Warden issues a potential incident alert.

The system can be up and running in minutes and is able to detect both external and internal corporate theft and espionage. It can also help businesses meet the new EU General Data Protection Regulation which requires businesses to 'have the right procedures in place to detect, report and investigate a personal data breach'.

Amadeo said: “It’s early days still but we’re very optimistic about the future.

“The Global Business Innovation Programme has introduced us to new suppliers and partners and connected us with world leaders in cyber security. I’d highly recommend it.”

 

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