ProtectBox believes that security is a right that all startups and scaleups deserve. However, it can be difficult for those businesses to find the solutions that are appropriate for them. The company makes the buying of cyber security simple, fast, and personal with a proprietary algorithm that automates and prioritises the exchange of information between businesses and cyber security suppliers.
As well as information being inputted manually by businesses, the solution can also be plugged automatically into ProtectBox’s algorithm from the systems of corporate partners. Similarly, supplier’s product information can be manually inputted or plugged in from existing marketplaces. Saving time and money for all involved.
Having previously completed a pre-accelerator and accelerator, ProtectBox was attracted to the Cyber 101 programme as it is tailored to the needs of the participant, whether a startup or a scaleup.
With the last of the automation work requiring novel integrations to be carried out and marketplaces being notoriously difficult to get funding through traditional routes, ProtectBox’s main take out from the programme was to get help in finding the best way to receive required funding.
This involved determining the most appropriate funding structure, identifying and being connected to the appropriate target funders so as to procure the funding required.
The Cyber 101 Bootcamp provided a useful platform to help ProtectBox review its current progress in-the-round and roadmap the next steps to enable the business to scale globally.
During the Deep Dive workshop, advisors worked with ProtectBox to devise the most appropriate funding and investment plan and tailor its slide deck for the audience they’d be pitching to. In addition, at the Demo Day, ProtectBox was introduced to potential investors whose interest in them had already been qualified by the Cyber 101 team prior to the event. This helped the company connect with the right investor that would deliver the funding to further the project and also opened up new leads and support networks.
By participating in the programme, ProtectBox received personalised mentoring and got a clearer picture of where the business needed to go next. It also helped the company determine what it had done right and what was still needed to take it to the next level. In addition, the workshop further helped ProtectBox to further refine its messaging for the market.
Cyber 101 is a national programme running from January 2017 – March 2021 as part of DCMS funded activity to grow the UK’s cyber security sector and the capability of cyber security startups and scaleups. It is linked to the Develop strand of the UK Government’s National Cyber Security Strategy, a series of activities that will be supported by £1.9bn public investment over the next five years.
Reviewed scalability of the business model and export potential, with the help of government and industry experts.
Received guidance on how to tailor messaging to secure investment and sales
Were introduced to potential investors that had expressed genuine interest.
Increased its network that has allowed the company to line up several business opportunities for the new year.