IAR Systems Group launches business incubator to boost security innovation in IoT
Stockholm, Sweden—February 13, 2019—IAR Systems Group AB (publ) (”IAR Systems”) announces that the Group is dedicating an investment fund and efforts to help grow innovative startup companies within IoT and security solutions. Through the Ymir business incubator, the Group will support companies who have new innovative ideas and high-growth potential.
Security is becoming a crucial success factor for many companies providing electronic products, and as a result, there are a large number of startup companies entering the field with new innovative solutions for simplified and strengthened security implementation.
According to the report “IoT Global Forecast & Analysis 2015-2025” from Machina Research, there will be 27 billion IoT connections in 2025. This rapidly growing market is facing major security challenges, enabling attacks such as IP theft, counterfeiting and overproduction, as well as data theft and potentially life threatening sabotage. Despite these threats, secure products today constitute only 4 percent of the total number of IoT products available on the market, according to ABI Research (IoT Perspective - From Design to Life Cycle Management). According to ABI Research, the total market for secure microcontrollers for IoT can reach 1.2 billion dollars in value in 2022. The same year, secure IoT products are predicted to represent almost 20 percent of new IoT units.
In 2018, the global IoT security provider Secure Thingz became part of IAR Systems Group. Founded and headed by renowned security experts, the company strengthens the Group with exceptional expertise within the fields of device security, embedded systems, and lifecycle management.
“By investing in new technology, we will gain greater insights into new technologies and a strong position for extending our security value,” comments Stefan Skarin, CEO, IAR Systems Group. “Within Ymir, we will go for an initial limited ownership with open possibilities to grow, divest and acquire these startup companies.”
“We are taking a leading role in IoT security and this is the next step on that journey,” says Haydn Povey, CEO, Secure Thingz. “By investing in technology startups, we will be able to provide innovative solutions on top of our existing security offering and gain a powerful engineering foothold to defend our position as frontrunners in this expanding industry.”
Through Ymir, IAR Systems Group will take an active ownership role with board representation in the selected startup investees. The Group is currently evaluating the first set of candidates. New candidates can apply at www.ymirinvest.com
IAR Systems supplies future-proof software tools and services for embedded development, enabling companies worldwide to create the products of today and the innovations of tomorrow. Since 1983, IAR Systems’ solutions have ensured quality, reliability and efficiency in the development of over one million embedded applications. The company is headquartered in Uppsala, Sweden and has sales and support offices all over the world. IAR Systems Group AB is listed on NASDAQ OMX Stockholm, Mid Cap. Learn more at www.iar.com.
Stefan Skarin, CEO, IAR Systems Group AB