Nicholas Pisciotta and Chris Sharkey pitched Sicuro Innovations at Penn State's annual Supply Chain Pitch Competition this April.
Chris and Nick presented to a large panel of judges from Rockwell Automation, Walmart, Wegmans, DOW Chemical, Kane, Lansdale, and Chainalytics.
Their presentation to judges throughout the 10 minute period included a break down of how Sicuro's software solutions impact the world of connected devices in the global logistics and supply chain industries.
The discussion was presented with respect to how the security solution mitigates systematic risk. Systematic risk incorporates the costly parts of a business that are always present and the hardest to predict. It is the most common and most costly type of risk and cyber incidents have become apart of systematic risk.
Sicuro's Osmium and Hades platforms reduce the total operating risk along the whole supply chain. As the efficiently of the supply chain increasingly relies on the nominal operation of IoT, the amount of unchecked systemic risk increases.
As the amount of risk increases, the cost to reduce that risk does as well. However as more money is spent to implement cyber solutions in the IoT space, the risk can be dramatically reduced.
Sicuro's solutions compound risk reduction through constant threat intelligence sharing, machine learning processes, and endpoint threat mitigation.
While the global supply chain is responsible for trillions of dollars of international trade, cyber incidents like the one that hit Maersk can cost time, money, and reputation.
The judges of the competition awarded Sicuro Innovations $1,500