BALTIMORE, July 21, 2014 /PRNewswire/ -- Northrop Grumman Corporation (NYSE: NOC) and bwtech@UMBC celebrated the latest graduating cyber startup from its Cync Program last month in a ceremony at the Cyber Incubator on the campus of bwtech@UMBC.
KoolSpan, developer of a suite of patented, hardware-based mobile security encryption solutions, joins previous Cync graduates AccelerEyes (now ArrayFire), Five Directions and Oculis Labs in completing the 18-month scholarship program and launching cyber businesses to help national and global customers combat the growing cyber threat.
"We congratulate KoolSpan on its phenomenal success," said Chris Valentino, director of strategy, Cyber division, Northrop Grumman Information Systems. "With today's reliance on mobile communications, KoolSpan's approach to encrypting mobile applications is allowing customers to thrive in a secure business environment.
"The Cync program is addressing a critical need for innovative technologies that are keeping us ahead of the threat; we are proud to continue our partnership with bwtech@UMBC on this much-needed initiative," said Valentino.
Established in 2011, Cync is a unique global partnership between Northrop Grumman and the Cyber Incubator at bwtech@UMBC that nurtures cyber startups with an eye toward commercializing next-generation technologies.
Since being accepted into Cync, KoolSpan - based in Bethesda - has grown from eight to 40 employees, bolstered its intellectual property portfolio to more than 20 patents, and expanded into more than 55 countries. The company also earned a spot on the Federal Computer Week "16 hot companies to watch" list and won the "Emerging Firm of the Year Award" from the Tech Council of Maryland.
"We're excited about KoolSpan's growth while in the Cync Program," said Ellen Hemmerly, executive director of bwtech@UMBC Research and Technology Park. "Cync has proven to be an exceptional way to jump-start high potential technologies. We continue to accept applications to cultivate solutions that will make a difference in staying ahead in cybersecurity and information technology."
While in the Cync Program, KoolSpan honed its TrustChip technology, a micro secure digital (SD) chip-based encryption engine that slides into most smartphones and tablets to protect data and voice communications over network-connected devices including voice communications, text messaging, instant messaging and file sharing.
Current occupants at Cync include iWebGate, Perth, Australia; DB Networks, San Diego, California; Light Point Security, Baltimore; CKVS Virtual Enclave, Inc. Baltimore; and Ayasdi, Palo Alto, California.
For more details about previous Cync graduates, view their press release: https://www.globenewswire.com/newsarchive/noc/press/pages/news_releases.html?d=10050310
The Cync program is a highly competitive national scholarship initiative that looks for innovative technology-driven startup companies that address critical market needs in one or more of the following areas of interest: cyber, data sciences, big data, secure mobility, and cyber physical systems/critical infrastructure protection. For more information about applying, go to www.bwtechumbc.com.
bwtech@UMBC is a 71-acre research and technology community at the University of Maryland, Baltimore County (UMBC). With more than 500,000 square feet of office and laboratory space, it is home to nearly 120 technology and life science companies at all stages of development. bwtech@UMBC offers collaboration with university faculty and students and enjoys a strategic and convenient location, close to downtown Baltimore, BWI Thurgood Marshall Airport, and Washington, D.C. Its annual economic impact on the state is estimated to be more than $300 million.
Northrop Grumman is a leading global security company providing innovative systems, products and solutions in unmanned systems, cyber, C4ISR, and logistics and modernization to government and commercial customers worldwide. Please visit www.northropgrumman.com for more information.
SOURCE Northrop Grumman Corporation