An Australian “ethical hacking” cybersecurity startup has just scored a major win in Asia.
Brisbane’s Entersoft was the only Australian company among eight selected in Hong Kong last Monday to be admitted to the SuperCharger FinTech 2.0 accelerator. The startup will enter the 12-week program early in the new year.
“We are keen to use this accelerator experience to help position cybersecurity as an integral part of what is expected to be major growth in the fintech industry in Asia,” said co-founder Mohan Gandhi.
“[The accelerator] will help us build our networks and customer base into the growing fintech hubs of Hong Kong, China and Singapore.”
Entersoft sells itself as a cybersecurity provider that goes on the front foot to prevent incidents. It does this with “white hat” hacking — deliberately probing a customer’s systems to find vulnerabilities.
The startup also says it builds “a security-conscious culture” within the customer organisation, by educating and training the corporate leadership and software developers.
“The fintech industry can only exist with a strong cybersecurity culture and practice and our unique business model seeks to ingrain these elements into our clients,” co-founder Paul Kang said.
The developer intervention model is comparable to Secure Code Warrior, a Sydney company that trains executives and programmers to eliminate security loopholes as software is developed.
As corporate hacks and privacy breaches hit the headlines on a daily basis, cybersecurity is one sector that presents opportunities galore, especially for companies like Entersoft and Secure Code Warrior that work on human behaviour as much as computer code. The Cybersecurity Market Report forecasts that the worldwide market will grow as much as 15% annually for the five-year period from 2017.
Entersoft, with branches in Singapore and Bangalore, has already had 300 customers since launching in early 2014. The startup also won the “Best Innovation in Cyber Security and Anti-Fraud” gong at the first Fintech Awards earlier this year.