SOURCE: HSIEC

HSIEC

September 17, 2009 11:15 ET

America's Midwest Top Security Start-ups Compete for a Spot in the Final of the Leading International Technology Competition

CHICAGO, IL--(Marketwire - September 17, 2009) - Six high-tech, innovative companies have been selected as finalists in the American Midwest Regional Final of the Global Security Challenge Competition. The finalists will battle it out for cash grants totalling $500,000, plus a mentorship from venture capitalists. The event will be held on Tuesday, September 22 at the Chicago campus of Northwestern University.

The Global Security Challenge LLP (GSC), the organizers of the international competition, seek to highlight the world's most promising security technologies that create safer environments for airports, cities and enterprises without encroaching on civil liberties. GSC's goal is to support and promote researchers, infant companies and other inventors; and ensure valuable new technologies can develop and prosper.

The two winners of the American Midwest Regional Final -- in the Best Security SME and Most Promising Security Start-up categories -- will compete against winners from five other regional finals across North America, Europe and Asia, at the grand final hosted by London Business School on Friday, November 13, 2009.

The Homeland Security Innovation & Entrepreneurship Center (HSIEC) at Northwestern University will be hosting the Midwest part of this international competition, with Underwriter Laboratories as Local Sponsor and TechAmerica as Marketing Partner. "It's an honor to be part of such a prestigious international event," said Bret Johnson, Director of Illinois HSIEC. "We welcome GSC, the Midwest finalists and the many other participants. I anticipate a well-executed competition, complete with compelling presentations and groundbreaking ideas." During the event, business plans will be presented to a panel of judges, consisting of leaders from TSWG of the US Government; Cisco Systems; venture capitalist firms MVC Capital and Dunrath Capital; and Northwestern University.

The founders of the GSC, Simon Schneider and Janeen Chupa, commented in a joint statement: "The competition aims to empower innovation in security and this year, we were pleased to receive a record number of submissions from innovators in the Midwest region. We are also proud that our top contenders from previous competitions have subsequently raised more than $55 million in fresh capital."

About Global Security Challenge LLP

The Global Security Challenge LLP (GSC) is a forum for security innovators, start-ups and investors. It provides a valuable launching pad for security innovation and each year over $500,000 USD is awarded in its world leading competitions to entrepreneurs and researchers within the security technology field. The mission of the GSC is to stimulate technological innovations that make airports, cities and enterprises safer without encroaching on civil liberties.

Simon Schneider and Janeen Chupa founded the GSC while studying at the London Business School, and gained experience in the security technology sector at IBM and the US National Security Council respectively. The GSC is supported by Accenture, BAE Systems, Blue Star Capital, Control Risks, London Business School, ONR Global, Smiths Detection, TSWG, UKTI and the US Department of Homeland Security, among others.

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