California-based Cyber Security firm Trend Micro has announced a $100 million startup fund for companies looking to strengthen their finances to explore business opportunities in the field of Internet of Things. Thus, by doing so, the company which is world renowned for offering software for threat detection and antivirus wants to encourage companies having ideas, innovations, and approaches to prevent frauds in cyberspace.
As Gartner estimates 26 billion devices being connected to the internet by 2020, Trend Micro wants to offer a financial backup to tech startups to build a global threat intelligence.
Trend Micro has a history of never making financial losses from past 18 years and so finds itself financially well positioned to invest funds in research and corporate advancements.
By funding startups, the Tokyo-based company wants to enhance its learning into emerging ecosystem of opportunities, disruptive business models, market gaps and skill set shortages. This, in turn, will influence the Trend Micro’s Cyber Security planning across the company.
Trend Micro’s President and Chief Operating Officer Wael Mohammad said that the fund will be dispersed as an ‘ Initial $100 Million’. Means the funding can be increased on a gradual note over time as a top up.
Usually, Trend Micro makes around 15-20 investments per year in different business verticals. But this year, the company is planning to increase the investments list to 25-30 and the new funding to backup up cyber security startups is said to assist it in its vision.
As an initial area to focus, Trend Micro plans to invest in companies leading in IoT field. Then the security software provider headquartered in Japan wants to focus on AI, cloud security, and other fields.