Finalists split a $20,000 prize and winner is eligible for up to $2 million in seed financing.
DataTribe, a global cyber foundry that invests in and co-builds next-generation cybersecurity and data science companies, announced the launch of its fifth-annual DataTribe Challenge. The competition is poised to identify and curate Pre-Series A, high-technology start-ups with a vision to disrupt cybersecurity and data science.
Three finalists will split $20,000 in prize money, and one winner will be eligible to receive up to $2 million in seed capital from DataTribe. In 2021, the Challenge had two winners: Quickcode.ai and ContraForce. Quickcode.ai helps non-technical experts build machine learning training data with unprecedented speed and accuracy while ContraForce is the only platform to make comprehensive cybersecurity easy, effective, and accessible for the small to midsize enterprise.
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“Over the last five years, the Challenge has evolved into an excellent platform for entrepreneurs to not only get exposure and feedback — but to actually fundraise. For the winner, it could take care of their entire seed round. We’re always humbled by the quality of submissions — as founders look over the horizon to chart the future of cyber. The Challenge is a lot of fun and we look forward to working with participants.” said John Funge, Managing Director of DataTribe.
Mike Janke, Co-founder of DataTribe said, “The Challenge is the top cybersecurity startup competition in the world. We are inspired by the founders that participate and the innovations they present. We’re honored to be able to use all the resources we have at DataTribe to co-build with entrepreneurs, giving them an unfair advantage and creating the next generation of market-leading companies.”
In June 2021, Synopsys acquired the winner of the 2019 Challenge, Code Dx, a software security testing orchestration, correlation, and prioritization platform. The exit was a demonstration of the Challenge’s ability to draw top cybersecurity solutions, as well as of the success of the DataTribe model of partnering with over the horizon technology coming out of national security agencies.
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DataTribe invites contestants to join the Challenge who have developed a robust concept and/or initiated development of a minimal viable product (MVP) – i.e., a product developed with sufficient features to entice early adopters. The firm anticipates a strong showing from teams with experience working in national security, defense, national laboratories, or at organizations specializing in cybersecurity and data science R&D.
Applicants will have until August 31, 2022 to enter an application. DataTribe will review submissions for technical merit, market potential, and readiness of the team. On October 12, 2022, DataTribe will announce up to three finalists. These teams will then have 3 weeks to refine their pitch and prepare for final judging, with assistance from DataTribe’s team of startup veterans. In a live event, finalists will present a pitch and answer questions from a panel of esteemed judges on November 3, 2022.
“Winning the 2021 DataTribe Challenge was a major catalyst in achieving the product and market momentum necessary to grow our customer base,” said Stan Golubchick, ContraForce Co-Founder and CEO. “DataTribe is more than just an investor. Their unique foundry approach is a true partnership, adding the experience, support, and knowledge of successful company-builders to our team.”
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