Cybersecurity firm Trend Micro today launches a $100 million global venture fund targeting startups in emerging technology markets. This new venture fund is aimed to help Trend Micro nurture a portfolio of startups that are incubating ideas in Internet of Things (IoT).
In addition to financial backing, portfolio startups will gain access to Trend Micro’s technology and its channel of more than 28,000 partners.
“Trend Micro’s vision has always been to make the world safe for exchanging digital information. The explosion of devices is transforming how the world works, thinks and acts. It is clear that the ecosystem is still evolving and there is work to do to ensure organizations and individuals can operate and live safely in this new reality,” said Eva Chen, founder and CEO – Trend Micro.
According to Gartner estimates, 26 billion devices will be connected to the Internet by 2020 and Founder and CEO Eva Chen call IoT as “the next wave” for the technology industry. She further says, connected devices are changing how the world works, thinks, and acts, adding that there is work to be done “to ensure organisations and individuals can operate and live safely in this new reality”.
Trend Micro is based in Tokyo Japan, where its current value is around $7.5 billion, but it was initially founded in the U.S. in 1988. At present, the company operate in more than 50 countries and have over 5,000 staff. It is best known for IT security products which include threat detection and antivirus. Now it is looking to the startup world for fresh ideas, innovation and approaches. The idea, in its own words, is “to dive into new areas without disrupting core business resources.”
Trend Micro admits that working with startups will allow it to unearth insights into new business models, market gaps, and skill shortages. These learnings will influence Trend Micro’s cybersecurity solution planning across the company.