SCOTTISH Enterprise has supported a new cyber security business project from Edinburgh Napier University (ENU) with a major cash injection.
TrueDeploy, a project from the School of Computing, Engineering & the Built Environment (SCEBE) at Edinburgh Napier University (ENU), has secured £199,952 in additional support from the Scots funding agency.
The project has received the funding as part of Scottish Enterprise’s High Growth Spin-out Programme (HGSP).
It was previously awarded £73,418 from HGSP and £31,973 from Innovate UK’s CyberASAP programme.
TrueDeploy helps enterprises improve their software security and protect privacy through distributed ledger and Self-Sovereign Identity (SSI) technology.
This latest funding puts it on course to launch next year.
The technical team who developed the project has been led by Pavlos Papadopoulos and supported by Professor Bill Buchanan OBE, Dr Nick Pitropakis, Dr Owen Lo, and Mwrwan Abubakar.
The commercial team has been led by Nanik Ramchandani (Imagine Ventures) and Matthew Burdge (Head of CPD and consulting at ENU).
The team submitted its first patent related to the project in May and is currently working towards its second patent application.
Mr Papadopoulos said: “Our solution will help multiple customer segments, including government and defence, regulated industries in finance and healthcare, and even smaller technology start-ups.
“We want everyone across the software supply chain to feel more secure about the software that is driving their organisation.”
The software supply chain relates to the development and supply of software for use across all organisations and systems.
It needs to be managed according to regulatory requirements to ensure that systems are not compromised by threats like cyber-attacks.
Mr Ramchandani added: “We have one of the best technical teams in the UK and are delighted to be involved in building one of Scotland’s most exciting businesses of the future. Scottish Enterprise’s support in commercialising pioneering research is world leading.
“We can’t thank them enough for their foresight and vision.
“This incredible backing from Scottish Enterprise will allow us to launch our solution in 2023 and dramatically augment software security for the most vulnerable enterprises.”
Professor Buchanan commented: “With our Blockpass ID Lab, we have developed a strong research focus on creating trusted environments, and this forthcoming spin-out is one of the major advancements from the lab.
“Our previous spin-outs of Zonefox, Symphonic and Cyacomb – each supported by Scottish Enterprise in their early stages – have all been major successes.
“A key element of this was the core leadership team and the enterprise support from Scottish Enterprise.
“With Pavlos and Nanik leading this work, we have an executive team who has both the technical skills and business leadership to drive TrueDeploy forward.
“It cannot be underlined enough, though, the support that Scottish Enterprise bring in supporting the advancement to a high-impact spin-out company.
“Scotland is truly one of the best places in the world to create a high-growth technology company.”
Leah Pape, Head of High Growth Services at Scottish Enterprise, said: “We’re delighted to provide True Deploy with further support and continue our fruitful relationship with Edinburgh Napier University’s School of Computing.
“Both the company and its parent department deserve huge amounts of credit for the inroads they’re making into enhancing security in the digital age.”
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