IAR Systems to fund business incubator for IoT security

IAR Systems to fund business incubator for IoT security

Business news |
By eeNews Europe

According to the report “IoT Global Forecast & Analysis 2015-2025” from Machina Research, there will be 27 billion IoT connections in 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 today constitute only 4 percent of the total number of IoT products available on the market, according to ABI Research (IoT Perspective – From Design to Life Cycle Management).

According to ABI Research, the total market for secure microcontrollers for IoT can reach 1.2 billion dollars 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 IAR Systems Group. Founded and headed by renowned security experts, the company strengthens the Group with exceptional 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,” comments 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 startup 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 startups, 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 startup investees. The Group is currently evaluating the first set of candidates. New candidates can apply at
IAR Systems –

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