Official Press Release
The virtual accelerator will engage a select group of Canadian cyber startups, providing them with U.S.-based market intelligence and mentorship to advance expansion goals
New York – June, 2021 – SOSA, the global open innovation company, announces its second year of partnership with the Canadian Technology Accelerator (CTA), a global initiative led by the Government of Canada’s Trade Commissioner Service, to launch the next CTA Cybersecurity, Privacy & Compliance Virtual Program in New York. Last year’s program included mentorship and training workshops by industry leaders including American Express, Checkpoint, JPMorgan, Team8, and Morgan Stanley.
New York and Silicon Valley are two of the largest technology accelerator ecosystems in the U.S. With considerably more people working from home, cyber-attacks and malware have become significantly more sophisticated and damaging for the economy, most notably over the last year. The need for a strong and coordinated cybersecurity industry has become essential. This challenging context has presented a dynamic opportunity for Canadian cybersecurity companies looking to promote their innovative solutions and expand their reach, particularly in the U.S.
SOSA’s partnership with the CTA will allow seven cutting-edge Canadian cyber-startups to immerse themselves in New York’s tech cyber ecosystem and equip them with the tools needed to expand into the U.S. market. The selection committee, composed of SOSA’s innovation team alongside representatives from the Canadian Consulate General in New York, NYU Tandon Data Future Lab, and venture capitalists, chose a diverse set of promising startups to participate in this year’s CTA cohort. They include Byos, Crypto4, Global Intelligence, Kings Distributed Systems, MONDATA, PrivateAI, and TrojanAI. The CTA Cybersecurity Virtual Program will be tailored to address the unique potential of each startup, both in business and technology, and help them advance their expansion goals.
The 11-week program will offer them access to multinational corporations, VCs, investors, and tech experts. Participants will gain training, mentorship, business introductions, insights, and practical workshops to help them develop a successful product-market fit alongside meaningful business growth and investment opportunities.
The partnership comes on the heels of 2020 CTA alumni Qohash securing eight million dollars in Series A funding after working closely with SOSA and the CTA program in 2020, helping it tailor its product and strategy for the U.S.
“As the need for cybersecurity continues to grow exponentially, supporting and nurturing Canadian startups is critical for the industry to effectively combat incoming challenges,” says Uzi Scheffer, CEO of SOSA. “With stories like Qohash, our program has already shown an effective and workable path for startups looking to develop and optimize their processes from within.”
“I am excited to welcome this cohort of Canadian companies to New York. They represent the best of Canada: diversity, innovation, and ambition and are eager to tackle the U.S. market,” said Khawar Nasim, Acting Consul General of Canada in New York. “I have been amazed by the resilience and creativity of our founders throughout these challenging times. At the Consulate, we are committed to their success and hope to introduce them to impactful networks and unparalleled industry expertise.” “Participating in the CTA Cyber Program in New York helped us understand how to chart a successful strategy for entering the U.S. market,” says David Shipley, CEO of 2020 CTA cyber alumni Beauceron Security. “Since the conclusion of the program, we’ve signed a major new channel partner to help us reach the U.S. market, as well as made invaluable connections in key markets for us, including banking.”
SOSA is a global open innovation company. SOSA builds pragmatic cross-vertical open innovation programs and even stronger relationships within the tech ecosystem. By identifying advanced technology solutions and innovative models, SOSA works with corporations and public entities to implement solutions that lead to business growth and successful digital transformations. SOSA Innovation Centers in Tel Aviv, New York, and London support the open innovation programs and serve as the meeting place for governments, corporations, and tech entrepreneurs. It is where leaders in innovation participate in demo days and roundtables and meet their next business opportunities. SOSA’s partners include multinational corporations such as HP, SwissRe, RBC, Siemens, Rafael, Tokio Marine and governmental entities such as the NYC Economic Development Corporation, the Australian Government and the Basque Government.
About The Canadian Technology Accelerator Program (CTA)
The CTA program is a global business development program by Global Affairs Canada’s Trade Commissioner Service. Established in 2009, the CTA program supports the international scale-up of high-growth, high-potential Canadian firms in the sectors of information communication technologies, life sciences and cleantech. The CTA program reports over 574 participants collectively garnering $646 million in capital, $238 million in revenue and the creation of 1,128 strategic partnerships and 2,529 new jobs. For more information, visit https://ctaconnects.com/.
Uzi Scheffer, CEO