Innosphere client company, Terafence, selected to pitch at the prestigious Electric Power Research Institute (EPRI) Venture Day
Innosphere, Colorado’s incubator program dedicated to accelerating the success of science and technology-based companies, has announced that Israeli-based cyber security startup company, Terafence Ltd., has been selected to pitch at the prestigious Electric Power Research Institute (EPRI) Venture Day in Chicago, IL on August 13th. Venture Day is a mix of startups and companies from across the globe interested in clean technology solutions.
Terafence is an Israeli startup company protecting buildings and systems from cyber threats. Each year, Innosphere provides business support to a limited number of international companies to help them achieve business success in the U.S. and to assist with commercialization efforts.
Each summer, the Electric Power Research Institute (EPRI) and Incubatenergy join forces to present innovative companies to the electric power industry. Terafence was recommended by Innosphere to EPRI’s Venture Day, which is a half-day pitch event with technology innovators and members EPRI’s nation-side network of utilities.
Increasingly, hackers are attempting to access global critical infrastructure such as power generation utilities and power transmission utilities to manipulate mission-critical equipment that controls the power generation network. Terafence has developed a hardware and software solution that prevents hackers from entering into networks at the operating system level. Terafence’s solution prevents hackers from accessing the front-line control technology essential for controlling the entire electric grid, which are called Programmable Logic Controllers (PLCs).
“Innosphere is excited to be supporting Terafence in their US market launch,” said Mike Freeman, Innosphere CEO. “The company is working on a critical technology for the electric power industry and we’re very pleased Terafence was selected to present at EPRI’s Venture Day.”Innosphere has a track record of working closely with international companies on customized support packages. Two examples include working with the Canadian Technology Accelerator that brings high-potential clean technology companies to Colorado for business support, and working with the Israel-Colorado Innovation Fund (ICI Fund) to support Israeli startups seeking to establish operations in the U.S.
“Many IoT devices are being compromised due to their inadequate protection from attacks,” said Freeman. “Terafence’s solution protects commercial buildings, critical assets, and systems from all types of cyber threats, making this a timely technology addressing cyber security.”
For more information, contact Innosphere CEO, Mike Freeman, at [email protected] or 970. 818.7736.
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Innosphere is currently accepting applications from science and tech companies to join the Fall cohort
Innosphere’s business incubation program is all about gaining customers, raising capital and scaling your startup. The Innosphere Fund will be evaluating all incoming companies of the fall cohort to be considered for seed stage investments of up to $150,000 at the beginning of the company’s Innosphere engagement. The initial 3-month program begins in September. Applications to the incubator program should be submitted by the deadline of August 21st, 2019 at innosphereventures.org.
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About Terafence:
Impenetrable protection of IoT Devices
Terafence is a team of professionals sharing a common goal – to make IoT and NoT safe and secure from malicious attacks. Their proprietary TFence™ firmware/microchip solution for cyber-secure connectivity ensures total protection from tampering – enabling data outflow while completely blocking entry.
Terafence has developed a unique ability to secure and completely control the direction of any data flow. The unique ability to secure and control the direction of data flow enables continued ongoing operation of the processes as intended, and dramatically increases the level of security. This capability is a cyber solution for operational networks and IoT areas (e.g. prevent hacking and cyber-attacks on IP cameras). The company currently focuses on smart cities, smart factories (Industry 4.0), utilities and critical infrastructures.
Industry: Cyber Security | Haifa, Israel | CEO and Co-Founder: Hezi Erez | www.terafence.com
About Innosphere:
Innosphere is Colorado’s leading science and technology incubator, accelerating the success of startup and scaleup companies. In addition to the program, Innosphere has real estate with office and wet labs, and a seed stage venture capital fund.
Innosphere’s program focuses on ensuring companies are investor-ready, connecting founders with experienced advisors and early hires, making introductions to corporate partners, exit planning, and accelerating top line revenue growth. Innosphere supports entrepreneurs in many industries, including but not limited to: bioscience; medical device; energy; hardware; B2B software; FinTech; smart cities; and artificial intelligence. Innosphere has been supporting startups for over 20 years, has locations in Fort Collins, Boulder, Denver, and Castle Rock, and is a non-profit 501(c)(3) organization with a strong mission to create jobs and grow Colorado’s entrepreneurship ecosystem. innosphereventures.org