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Disruptive Indoor Tracking Solution Wins Global Security Challenge 2008
TRX Systems was awarded a $500,000 grant sponsored by the U.S. Government for winning the 3rd annual


TRX Systems, a spin off from the University of Maryland in the USA is a leading innovator in the development of personnel tracking solutions. TRX Systems created an advanced personnel tracking system that provides first responders with accurate and real-time locations of individuals deployed inside a building. TRX’s technology is self-contained, requires no pre-existing infrastructure and can even create virtual floor maps in real-time. (www.trxsystems.com )

Speaking at the awarding ceremony, John Reid, MP and former Home Secretary of the U.K. stated:
“The healthiness of our appetite for risk is so important. Overcoming behavioural barriers is the virtue of leadership; enabling people to innovate and creating the confidence to embrace innovation as a continuous rather than an intermittent process. What I would ask of you – and advise – is that you always consider the capacity of organisations to make innovation happen.”

Jeff David, the Deputy Director of TSWG at the U.S. Department of Defense and Chairman of the GSC Judging Committee said: “Disruptive technology is the key to staying ahead of international threats to our airports, enterprises and infrastructure. The Global Security Challenge is so important because it reaches the new, small, non-traditional players that so frequently drive innovations. We are proud to sponsor the award for the GSC winner because the GSC is an effective launching pad for security entrepreneurs.'
Before coming to London, the six finalists had already made it through two rounds of judging. The last of which were regional competitions held in Washington DC, Singapore and Brussels. The other finalists have developed technologies that can remotely protect sensitive data, detect concealed information in the human brain, enable real-time decision making, translate Arabic-language documents with “artificial intuition” and more accurately predict earthquakes.
The judges at the Grand Final were:
• Jeff David - Deputy Director of TSWG at the U.S. Department of Defense;
• Stephen Bonner – Group Head of Information Risk Management at Barclays;
• Mike Chalfen - General Partner at Advent Venture Partners
• Dr. Alastair MacWillson - Global Managing Partner of Global Security Practice at Accenture; and
• Jon Wills – Director of Security & Resilience Programmes at BAE Systems.

The Global Security Challenge was founded by MBA students at London Business School and is supported by Accenture, Booz Allen Hamilton, BAE Systems, ONR Global, PegasusBridge Fund Management, Smiths Detection, TSWG, Cap Vista and the US Department of Homeland Security, amongst others.

The directors of the GSC, Simon Schneider and Janeen Chupa, commented: “The entrepreneurial companies that pitched in the GSC Final are all winners as they were selected from hundreds of applicants and already went through three stages of screening. The GSC has become an effective launching pad for security start-ups, as our top contenders from the previous two finals multiplied TSWG’s $500,000 into over 40 million Dollars in needed investments. According to our research, over 500 million Dollars have been invested in security start-ups by venture capitalists from around the world so far in 2008, indicating the continued need for innovation in this sector and hence the strength of this market.”


Publisher Contact Information:

Global Security Challenge
077 38 00 9161
press@globalsecuritychallenge.com

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