Sector: Cyber security
Number of employees: 5
Cryptolab has developed encryption systems that supersede current industry standards, allowing secure data transactions for companies of all sectors. Its innovative cloud security solutions, allowing calculations and research on encrypted data without knowing its content, solve the problems of data storage for large public administrations such as governments. The other core product is a patented solution to prevent common attacks on banks.
Why they could be giants?
Engaging with the US market, Cryptolab’s solutions give them strong possibilities in the billion dollar cyber security market. It is also working on a system (Fully Homomorphic Encryption) that will speed up Cloud adoption in all industries, in particular in those industries where there are issues related to compliance and security, such as Healthcare and Financial services. If the company can establish its products as the defacto technology for secure transactions globally it will be a major business opportunity and highly profitable.
Where’s the risk?
For the technology that has been proven, the challenge will be to get scale. Cryptolab needs a strong go to market strategy and the right contacts to become a global company, and create the market place for its new potential market changer.
What it means for Europe?
With more and more technology and digital start-ups requiring maths, science and computer graduates, the challenge for Europe is to ensure its education system is producing enough to meet the demand.
This information announced reflects the company at time it is published and does not reflect any subsequent changes since then. The European Business Awards and its sponsors do not support or recommend investment in any of the companies based on the information that is included in this listing.