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Press Release: Crossword Cybersecurity Plc : UK/US Collaboration Mission Report

   UK/US Collaboration Mission Report 
   October 20, 2016 
   In May 2016, Crossword Cybersecurity plc led a group of leading UK cyber 
security academic researchers on a week long mission to the US, funded 
by the UK Government Department of Culture, Media and Sport (DCMS). The 
objectives were to meet with counterparts at world class US institutions 
to gain insights into the commercialisation process within the cyber 
security research domain and to understand the US approach to 
commercialising academic research relative to the wider cyber ecosystem. 
   The UK group represented a range of cyber security research interests 
and institutions, all at different stages of exploring whether to 
commercialise their research activities. The mission was hosted by the 
University of California (UC) Berkeley, Stanford University, Harvard 
University and the Massachusetts Institute of Technology (MIT), with a 
number of external speakers participating such as the Department of 
Homeland Security, SRI International, start ups and venture capital 
investors, in addition to the university research staff and technology 
transfer representatives. 
   This note is our summary of findings that resulted from the mission, 
with a particular focus on drawing out key insights relating to the 
commercialisation of cyber security research. These insights, in our 
assessment, fall under five headings. 
   -- Fostering a culture of innovation and entrepreneurship with a particular 
      emphasis on changing attitudes towards failure. 
   -- Reflecting on time, by moving with real urgency at one end of the 
      spectrum whilst simultaneously taking the long view. 
   -- Moving away from the lone "hero" entrepreneur towards a more team based 
   -- Crafting smart rewards that serve to foster spin out activity rather than 
      restrain it. 
   -- An open and commercial mindset towards licencing models, including open 
      source approaches. 
   In our opinion there is a rich seam of world class cyber security 
research in the UK. Whilst the scale of cyber activity in the US is huge, 
with US Government expenditure in the region of forty times the UK 
Government cyber budget, we estimate that over 250 cyber security 
research projects have been conducted or are on-going in the UK since 
2007, leveraging in excess of GBP200m in grant funding. There are some 
very positive examples of cyber security research being commercialised 
in the UK and several UK universities are already world class in their 
technology transfer activities. With the huge amount of outstanding 
cyber security research going on, the potential to scale up the UK's 
cyber security commercialisation activities is vast. 
   We hope that by applying some of the learning that emerged from this 
important mission, the UK cyber academic research community can unleash 
the next wave of cyber ventures that will have a major impact on cyber 
innovation in the UK and beyond. 
   To read the full report please go to the Crossword Cybersecurity plc 
   Further information, please contact: 
   Tom Ilube 
   CEO, Crossword Cybersecurity 
   Tel: +44 (0) 20 8973 2350 
   ISDX Corporate Advisor 
   Nick Michaels and Jon Isaacs, Alfred Henry Corporate Finance Limited 
   Tel: +44 (0) 207 251 3762 
   ISDX Corporate Broker 
   Claire Louise Noyce - CEO, Hybridan LLP 
   Tel: +44 (0) 203 764 2341 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
   Source: Crossword Cybersecurity Plc via Globenewswire 

(END) Dow Jones Newswires

October 31, 2016 08:54 ET (12:54 GMT)