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
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.
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?
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?
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