6th Annual Summer Kickoff Mixer July 14 at SPACES, Toronto

Security advice for emerging tech companies and investors

CPNI and National Cyber Security Centre | Jun-Jul, 2021

Security advice for emerging tech companies and investors - Security advice for emerging tech companies and investors

The following is a list of actions that your startup can take to reduce the likelihood of falling victim to a more common security attack and lay the foundation for strong security as your company grows:

Security guidance for emerging technology companies

  • Set the tone for a positive security culture
  • Determine what you need to protect
  • Build security into your environment
  • As you increase collaboration, do so with security in mind
  • Check and understand as you expand internationally into new markets
  • As your team grows and you can no longer rely  on personal relationships alone to build trust
  • Minimize damage caused by  a breach with a well-planned response

Download the 21 page PDF report --> here

 

Security advice for emerging technology investors

The following questions are intended to help you engage with emerging technology startups that you are considering investing in.  These should be used to inform your due diligence investigations and to encourage companies to take a security-minded approach that will better protect your investment.

ISED: Cyber Security and Policy Statements

You may seek to incorporate some of these as conditions on which your investment depends to minimise risk  of a security incident and maximise the chance of a return on your investment.

What to expect from your portfolio companies

  • As you conduct your pre-investment due diligence
  • Does the company have any overseas investors associated with a country which may be viewed
  • as hostile to the UK or one which has different democratic and ethical values f rom our own?
  • Could the involvement of other investors inhibit future fundraising or the sale of the company because of legal, ethical or compliance issues, particularly in relation to sanctions, the National Security and Investment Act or export control?

See:  Fintech Fridays EP52: Technology Due Diligence Process and Cyber Security Risks

Now the startup is up and running, are you satisfied that:

  • Security is owned and discussed at Board level?
  • The company has identified its most valuable assets and conducted a risk  assessment to determine what mitigations should be in place around those assets?
  • Intellectual Property (IP) protections are in place?
  • Access to information and assets is controlled and limited to just those trusted individuals who need it?
  • Essential security measures have been built into the IT setup?
  • The company has sought suppliers whose security arrangements meet company requirements?

See:  OFSI Publishes Draft Guidelines on Technology and Cyber Risk Management

Protecting your investment

  • As the startup increases collaboration
  • Expands into new markets and through further investment
  • Takes on additional staff
  • In preparation for security incidents

Download the 16 page PDF report --> here


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