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Siemens Venture Capital partners with global security challenge
Competition seeks startup solutions to help fight war on terror

London, June 8th 2006: The Global Security Challenge – a ground-breaking business competition hosted by London Business School – is proud to announce a prestigious new partner. Siemens Venture Capital will generously support the Challenge and its goal of helping business and technology make the world a safer place.

The Global Security Challenge aims to find the world’s best new security technology businesses. The Challenge has been founded in the belief that entrepreneurs, and private sector technology solutions, have a key role to play in winning the war on terror and crime. Entries are now being accepted, with the winners to be announced at a Grand Final in London on 26th October 2006.

Siemens Venture Capital appreciates the importance of technology in the security sector and will support the Global Security Challenge with sector expertise, and by offering mentorship and business advice to the winner of the Challenge as a prize. Although entrepreneurship is a key agent for innovation, entrepreneurs have found it difficult to make inroads in the security sector, citing high barriers to entry and the difficulty of reaching out to government procurement channels. Dr. Uwe Albrecht, Managing Partner of Siemens Venture Capital, says: “the Global Security Challenge offers a chance for entrepreneurs to overcome these hurdles and find partners and customers.”

Entry to the Global Security Challenge is open to individuals and young companies offering technology-based security products. Entrants must submit executive summaries of their businesses and products, before June 30th 2006. The winning entrants will receive prizes, mentorship, and unparalleled networking opportunities and media coverage.

For further information, please contact Nadine Yahchouchi at the address above, or email

About the Global Security Challenge: The Global Security Challenge is organized by graduate students at London Business School with the support and participation of key players in the government and venture capital sectors. The team has gained significant experience in the security technology area with IBM, the US Army, CISCO Systems, the British Army and the National Security Council at the White House. The mission of the Global Security Challenge is to stimulate technological innovation that will make us all safer without encroaching on civil liberties. Truly unique technologies tend to come from entrepreneurs, yet this market, unlike others, can be very difficult for start-ups to enter. The Global Security Challenge exists to give ideas and concepts the attention needed for them to succeed.

The Security Market: Homeland Security is a fast growing market that is estimated to be valued at $57.6 billion in 2006, growing to $105.7 billion worldwide in 2010 (Source: Homeland Security Research Corporation). But while this market is growing in size and importance, it is still difficult for new ventures to break through the barriers of government buyers and to appear on the radar-screen of large integrators. Governments currently tend to buy security solutions from large companies with proven track-records, that have been able to meet the bureaucratic requirements.

Process: The Global Security Challenge is, subject to legal restrictions, open to companies based anywhere in the world. Potential entrants are encouraged to visit for detailed information, including entry criteria and instructions on how to enter.

  • Eligible entrants must submit executive summaries before June 30th, 2006.
  • Venture capitalists, business academics and graduate students will select the 20 best executive summaries.
  • Those entrants who are successful at this stage will be invited to submit fullyfledged Business Plans for a second round of judging in August.
  • Five finalists will then be selected to present to a pan

    Publisher Contact Information:

    Siemens Venture Capital GmbH (SVC)
    +44 (0)77 3800 9161

    Company profile of Siemens Venture Capital GmbH (SVC)
    Past press releases of Siemens Venture Capital GmbH (SVC).

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