The Ministry of Electronics & Information Technology (MeitY) and Data Security Council of India (DSCI) has recently launched the Cyber Security Grand Challenge for uplifting the cybersecurity startup ecosystem. The registrations for awards are currently open.
In this challenge, the participants have to come up with solutions for 6 defined problem statement areas such as IoT, Microservices, Biometrics, Hardware Security, etc. The total cash prize of Rs 3.2 crores will be distributed among the startups through this program.
The Grand Challenge will be regulated under DSCI with various mentorship workshops for the guidance of participants. The program will run for 9 months under different stages. 12 teams will be shortlisted in the final stage and awarded with Rs 5 lakhs each. Later in the MVP stage, 6 teams will get Rs. 10 lakhs each.
The winning team will get the grand prize of Rs. 1 Crore and the 1st and 2nd runner up will get Rs. 60 lakhs and Rs. 40 lakhs respectively. At the launch of the Cyber Security Grand Challenge, MeitY secretary Ajay Sawhney said, the connected systems and extensive use of smartphones have raised the risk of hacking and crime.
India is skilled in software solutions and services and has the potential to grow intensively in the cybersecurity sector with the support of budding cybersecurity startups and cyber hygiene.
He continues, the Grand Challenge is the initiative taken to encourage cybersecurity entrepreneurs to develop and innovate various unique solutions, provided with mentorship and guidance on multiple aspects such as building global solutions, technology, and market strategies, etc. provided by the best cybersecurity experts for critical cybersecurity problems and demonstrating capabilities.
CERT-In, the cybersecurity body of India had reported more than 3.13 Lakhs cases in 2019. Companies like Nykaa Fashion, Oyo, Just Dial, Bounce, Airtel, WhatsApp, and OnePlus were amongst the data breach case.
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