QUARTERLY UPDATE: 24th March 2016
The beginning of the year was a time of consolidation of our existing team, as well as expansion. In January we hired experienced Grant Manager Dr Helen Marsden, and existing team member Indy Dhami took on a new role as Director of Cybersecurity Consulting. Our team now includes industry experts in all of our key areas of specialty; Cybersecurity, HealthTech, FinTech as well as Military & Defence.
In February we were laying the groundwork for a busy March as well as submitting two major proposals. In early March Crypta Labs was one of 6 companies chosen by UK Trade & Industry to represent the ‘Best of British’ FinTech as part of a ‘mission’ to San Francisco.
Whilst there, Joe met with with venture capitalists and financial services industry leaders, including those from the financial giants of Wells Fargo and Silicon Valley Bank. Visiting San Francisco, and the diverse FinTech cluster of Silicon Valley, gave Crypta Labs an opportunity to learn about the key drivers for innovation in this area as well as a chance to grow within the ecosystem through networking.
UKTI representative, Shaul David, who travelled with the group, said of the mission, “The UK FinTech sector has developed phenomenally in the last few years. UKTI continues to support the long term sustainability of the sector and we are delighted to have offered six of the most exciting British companies, including Crypta Labs, an opportunity to pitch to, and learn from, the Silicon Valley venture capital industry."
Joe made the most of his trip to the West Coast, and also attended the RSA Conference, the world's foremost cybersecurity conference. The debate over the FBI’s request for a “backdoor” into the iPhone operating system (#AppleVSFBI) dominated this year’s conference, and you can read our thoughts on the argument, here. Joe also had the opportunity to pitch Crypta Labs to the US Dept. of Defense and the Dept. of Homeland Security.
We are currently following up with interested investors Joe met with on his trip, including Wells Fargo, who we are in discussions with over a potential investment in Crypta Labs through their accelerator programme.