Foundation of the Max Planck Institute for Cyber Security and PrivacyeCAPITAL NEWS
In light of continuous changes in information technology (IT) and its applications, as well as the associated growing challenges to IT security, the new Max Planck Institute will address fundamental research in IT security and data protection, including not only technological but also economic, legal and social aspects.
With Professor Dr. Gilles Barthe, a world-renowned researcher in formal methods of software and systems security, cryptography and data protection (most recently engaged at the Institute for Advanced Studies in Software Development Technologies in Madrid), and Professor Dr. Christof Paar of the Ruhr-University Bochum, the Max Planck Institute for Cyber Security and Privacy has already won two experienced and leading experts as founding directors. Christof Paar is currently investigating defenses techniques against attackers on IT systems who invest extensive resources into the search of security vulnerabilities at their targets. Previously, he developed the resources-minimal cryptographic method PRESENT, which closes security gaps in small embedded computer systems, such as contactless smart cards or keyless entry systems. Paar also contributes his expertise as a Cyber Security Partner of eCAPITAL, which in cooperation with other cyber experts, experienced founders and a global network, has set up a specialized Cyber Security Fund. The fund was closed on December 31, 2018 and eCAPITAL now can provide a total of 50 million Euros of funding to young cyber security companies.
Until the Max Planck Institute for Cyber Security and Privacy Protection can move into its own building – which will be financed by the State of North Rhine-Westphalia – it will reside in premises of the Ruhr-University Bochum. The location is particularly suitable beacuse Bochum is since years a hot spot for research, education and comapnies in the IT security space. Therefore, Bochum is providing an already established and diverse cyber security ecosystem. Since 2001, more than 20 cyber security start-ups have been founded at the Ruhr-University Bochum and the affiliated Horst Görtz Institute for IT Security, among them VMRay and RIPS Technologies, two portfolio companies of eCAPITAL. With the new Max Planck Institute for Cyber Security and Privacy, this ecosystem, which is unique in Europe, will once again be significantly strengthened.
eCAPITAL is a venture capital firm that provides early to growth stage funding to technology companies in the fields of software & information technology, cybersecurity, industry 4.0, new materials and cleantech. Founded in 1999, eCAPITAL has a history of supporting entrepreneurs determined to build companies with lasting significance. Partnering with eCAPITAL means joining an international network of business leaders, entrepreneurs, technologists and potential partners. eCAPITAL is located in Germany and currently manages funds with over EUR 220 million under management.