A cyber security startup accelerator program backed by Dimension Data Australia launched this week and is looking for five companies to join.
CyRise is calling for "early-stage security entrepreneurs and industry professionals" to sign up to the six-month program starting in September. Startups will be based out of the Teamsquare co-working space in Melbourne.
The five successful applications will receive $50,000 in capital to start, along with mentorship from cyber security experts, a trip to the US and Israel, and the opportunity to pitch for funds to investors.
Mentors include Dimension Data Australia CTO Debra Bordignon, chief executive of Australian Cyber Security Growth Network Craig Davies and COO Michelle Price, chief executive and co-founder of Culture Amp Didier Elzinga and chief executive and co-founder of Bugcrowd Casey Ellis.
CyRise chief executive Scott Handsaker said startups will also have access to Deakin Uni's researchers and Dimension Data's commercial experience.
“Victoria is fast becoming known as the best location in APAC for the cyber security industry. Where Australia is lacking in this space is in the commercialisation of ideas. There is so much talk around R&D, which is great to see, but how do we package up these findings and ideas in order to yield better commercial outcomes for the Australian economy?" he said.
“We want to help connect Australian corporates with innovative local founders who are building world class cyber security solutions. Our ability to open corporate doors for our startups will help them grow globally, while allowing corporate Australia a rare inside look at the best cyber security solutions this country has to offer."
Dimension Data was awarded $450,000 last year to establish CyRise as part of the Victorian government's startup investment fund LaunchVic.