European Security
Challenge Project

Security as a field of innovation is a keystone for protection of EU citizens and represents a strong market for new products, the worldwide size of which is estimated to be over €35 billion. Europe has been lagging behind in terms of developing innovation in its security technology industry. GSC and Forrester research into venture capital investment in security companies between 2008-2009 shows that 89% of IT-security venture funding happened in the USA, with only a meager share occurring in Europe.

Competitions are increasingly recognized as an effective way of promoting innovation. For the last twenty years the prize industry has boomed, increasing more than 15-fold. The US Space and Security authorities have been supporting world leading competitions for many years. The Obama administration has re-authorised the America COMPETES act to support innovation and innovators. Is it time for Europe to catch up?

The "European Security Challenge" project looks at innovation from a European perspective, investigating the opportunities on offer for EU policy makers and innovators through the use of competitions.

Press Release 1 March (pdf 2.2mb)

The "European Security Challenge" project will explore the benefits of the Prize Competition model for innovation and growth within the European security industry.

Global Security Challenge LLP heads up a consortium including world class research organization "Jožef Stefan Institute" and leading PR agency 3D Communication. One deliverable of the consortium is to investigate ways in which the power of prize competitions can help to drive and stimulate innovation and R&D within Europe's security sector.

On the 8th April 2011, the European Security Challenge launched at the Prize Summit and conducted a workshop exploring the value of competitions in innovation policy.

On Friday 8th April 2011 at London Business School, the European Security Challenge hosted a workshop on inducement prizes at the Prize Summit. Government, Industry and pioneering SMEs took part in debating the role of competitions in driving innovation.

Distinguished speakers and panellists included:
•   David Willetts, UK Minister for Universities and Science
•   Anne Glover, Chief Scientific Advisor to the Scottish Govt (Saltire Prize)
•   James Love, Director of Knowledge Ecology International

More information about this event can be found on the Prize Summit website.

The "European Security Challenge" project is an EU project conducted by Global Security Challenge LLP, in partnership with world class research organization "Jožef Stefan Insitute" and leading PR agency 3D Communication.

Global Security Challenge LLP is a central hub for security innovators, start-ups and investors and hosts competitions and events around the globe. The GSC aims to empower entrepreneurs in the security technology space.