Through the Ymir business incubator, IAR 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 start-up companies entering the field with solutions for simplified and strengthened security implementation.
According to a recent report “IoT Global Forecast & Analysis 2015-2025” from Machina Research, there will be 27 billion IoT connections by 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 constitute only 4 percent of the total number of IoT products available on the market today, according to ABI Research (IoT Perspective - From Design to Life Cycle Management). According to ABI Research, the total market for secure microcontrollers for IoT could reach $1.2billion 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 the IAR Systems Group. Founded and headed by security experts, the company has helped to strengthen the Group with its 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,” commented 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 start-up 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 start-ups, 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 start-up investees. The Group said that it was currently evaluating the first set of candidates.
