{"id":13924,"date":"2020-07-20T10:00:01","date_gmt":"2020-07-20T09:00:01","guid":{"rendered":"https:\/\/www.riskinsight-wavestone.com\/?p=13924"},"modified":"2020-10-05T08:31:54","modified_gmt":"2020-10-05T07:31:54","slug":"wavestone-publishes-its-2020-belgian-cybersecurity-startup-radar","status":"publish","type":"post","link":"https:\/\/www.riskinsight-wavestone.com\/en\/2020\/07\/wavestone-publishes-its-2020-belgian-cybersecurity-startup-radar\/","title":{"rendered":"Wavestone publishes its 2020 Belgian Cybersecurity Startup Radar"},"content":{"rendered":"
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For several years now, Wavestone’s different offices have been periodically identifying startups active in the field of cybersecurity. Wavestone Brussels office has therefore carried out its very first census in this field:\u00a0the 2020 Belgian Cybersecurity Startup Radar<\/strong>.<\/p>\n

 <\/p>\n

A proven and pragmatic methodology<\/h2>\n

This study starts with a global overview of the Belgian cybersecurity ecosystem based on a first mapping of companies active in this field. To that end, we consulted\u00a03 main sources<\/strong>. The first one are\u00a0databases<\/strong>\u00a0specialized in the identification of startups, then\u00a0co-working spaces\u00a0& incubators<\/strong>\u00a0and finally\u00a0organizations & associations<\/strong>\u00a0supporting cybersecurity startups.<\/p>\n

Only companies marketing a product (application, platform, hardware, etc.) were retained. Consulting companies are out of scope.<\/p>\n

The purpose of this first step is to establish a list of actors in order to then apply the\u00a0selection criteria<\/strong>\u00a0of the\u00a0Wavestone radar<\/a>. Those criteria allow us to establish the perimeter of the radar in accordance with those already carried out previously by our others offices.<\/p>\n

The criteria we select to map out the companies are\u00a0the\u00a0age<\/strong>,\u00a0the location<\/strong>\u00a0and\u00a0the size<\/strong>:<\/p>\n<\/div>\n<\/div>\n

 <\/p>\n

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The result of our 2020 Belgian cybersecurity startup radar<\/h2>\n

After having drawn up a list of companies active in Belgium and offering a product, we apply our 3 criteria.\u00a0The first census identified 30 companies,\u00a011<\/strong>\u00a0of which met our criteria.<\/p>\n<\/div>\n<\/div>\n

 <\/p>\n

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 <\/p>\n

The results of our study allow us to identify certain\u00a0trends\u00a0<\/strong>for the Belgian ecosystem. The typical Belgian cybersecurity startup is extra small, working in Brussels in the field of IAM.<\/p>\n

More than 1\/3 of the identified startups works in the field of IAM<\/h3>\n
<\/div>\n<\/div>\n<\/div>\n
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Identity and Access Management<\/strong>\u00a0(IAM) and\u00a0Application Security<\/strong>, which groups “Vulnerabilities”, “E-mail security” and “Surveillance” categories, are the two most important areas of activity and represent more than\u00a060% of the cyber ecosystem<\/strong>. The figure reveals also that the IAM seems to be the most mature sector in this ecosystem, echoing the figures from the\u00a0French<\/a>,\u00a0English<\/a>\u00a0or\u00a0Swiss<\/a>\u00a0startup radars, which show a similar trend.<\/p>\n

 <\/p>\n

More than 80% of the startups surveyed have less than 10 employees<\/h3>\n<\/div>\n<\/div>\n

 <\/p>\n

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The majority of the startups on our radar have few employees:\u00a0more than 80%<\/strong>\u00a0have less than 10 employees and none have more than 35 employees.<\/p>\n

In Belgium it is the\u00a0extra small<\/strong>\u00a0startup that predominates compared to the other radars of the group that see the medium-sized startups more numerous.<\/p>\n

 <\/p>\n

The cyber ecosystem is mainly concentrated in Brussels Region with almost 60% of startups, followed by Leuven and Antwerp by far<\/h3>\n<\/div>\n<\/div>\n

 <\/p>\n

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The majority of startups are located in\u00a0Brussels<\/strong>. No wonder, given that Brussels is the capital and one of the most dynamic economic centers in the country.<\/p>\n

 <\/p>\n

Focus on the analysis of the degree of innovation of startups<\/h3>\n

The next step in the analysis is to estimate the\u00a0level of innovation<\/strong>\u00a0of the companies on the radar. To do this, it is necessary to estimate a “degree of innovation” whether:<\/p>\n

\u2022 The company imagines a completely new security solution<\/p>\n

\u2022 The company reinvents an existing security solution<\/p>\n

\u2022 The company secures already existing uses (IoT, Cloud, etc.)<\/p>\n

Most Belgian startups are reinventing existing solutions or providing a tool to secure new uses.<\/p>\n

Quite logically, few startups work on a totally innovative project. This is also a trend observed in other international Wavestone radars, where the degrees of innovation are more or less the same as in Belgium.<\/p>\n<\/div>\n<\/div>\n

 <\/p>\n

\"\"<\/figure>\n
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The other trend is the low (or even non-existent) presence of startups active in the fields of “data security”, “network security” and “cloud security”. Several actors and employees of the startups met during this study confirmed the firm’s convictions on the subject.<\/p>\n

Firstly, the cyber market only rings the bell for\u00a0experts\u00a0<\/strong>or\u00a0insiders<\/strong>, which can repel investors. Then, cybersecurity is a complex field that often requires\u00a0special IT expertise<\/strong>\u00a0and\u00a0specific support<\/strong>. Finally, the current maturity of the market does not facilitate startups to find their customers.<\/p>\n

These observations may also explain why few contacted incubators support IT startups, and by extension the cyber field.<\/p>\n

 <\/p>\n

Conclusion<\/h2>\n

The 2020 Belgian Cybersecurity Startup Radar shows that the vast majority of\u00a0startups are located in Brussels, have less than 10 employees and work in the IAM sector<\/strong>. This study also reveals that the Belgian cybersecurity market is still in its infancy. Most of the startups encountered are either looking for financing, customers or are still in the testing phase.<\/p>\n

The objective of Wavestone is to follow the\u00a0evolution of this ecosystem<\/strong>\u00a0through new editions: new startups appearing during the year, possible disappearance, etc.<\/p>\n

In order to prepare these next versions, and for the purpose of improving and enriching this study,\u00a0please do not hesitate to\u00a0contact us<\/strong> if you know any company that might join our radar.<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

For several years now, Wavestone’s different offices have been periodically identifying startups active in the field of cybersecurity. Wavestone Brussels office has therefore carried out its very first census in this field:\u00a0the 2020 Belgian Cybersecurity Startup Radar.   A proven…<\/p>\n","protected":false},"author":1378,"featured_media":13926,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"page-templates\/tmpl-one.php","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[3266,2777,2790],"tags":[3367,3642,3640,3568,2772,3331,2826,3641,3567],"coauthors":[3569,3570],"class_list":["post-13924","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cloud-next-gen-it-security-en","category-cybersecurity-digital-trust","category-sections","tag-2020-en","tag-application-security","tag-belgian","tag-belgium","tag-cybersecurity","tag-iam-en","tag-identity-management","tag-network-security","tag-startups"],"acf":[],"yoast_head":"\nWavestone publishes its 2020 Belgian cybersecurity startup radar<\/title>\n<meta name=\"description\" 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