76% Indian WFH security solutions offered by startups: DSCI2 min read . Updated: 06 Aug 2020, 08:42 PM IST
- The startups are competing directly with Indian IT companies who are also rapidly tapping into the demand for remote working solutions and security
The National CoE, a joint initiative by Data Security Council of India (DSCI) & Ministry of Electronics and Information Technology (MeitY) has found that 76.3% of leading companies in providing work from home (WFH) security and technology solution providers from India are startups.
The National CoE has released a report to cover a list of innovative technologies and security solutions for WFH which may emerge in the coming times and can be deployed immediately or in the near future. The report covers 39 companies from various IT hubs in the country, namely Delhi-NCR, Bengaluru, Hyderabad, Mumbai, Pune to name a few.
The start-ups are in different stages of their product/technology. Some are existing in the market, while others are in ideation stage, validation stage, or a prototype stage. The report found that 66% of the companies covered already have products commercially available in the market. Almost 90% of these companies are capable of rolling out solutions for the market within three months and 45% of them are growth stage startups. The top use cases covered by these companies include device security, identity and access management, multi-cloud security and data security. Over 57% of these companies are boot strapped while 10% have progressed beyond Series B funding.
“It is heartening to see that India has so many startups and technology companies offering global WFH solutions during the pandemic. Over 80% of these companies offer cloud ready security solutions which has helped them tap into the global demand rapidly during the pandemic," said Rama Vedashree, CEO, DSCI.
She added that the Covid-19 pandemic has allowed startups to explore many more use cases in security and remote working solutions which are in huge demand across enterprises globally. The report is meant to help businesses find companies and solutions effectively. The purpose of the compilation is to create visibility of the innovation and efforts made in this area, increase the awareness about the ideas & solutions to solve the problems of the new paradigm, enhance the market potential, explore opportunities for the investment and engage with government and start-up initiatives targeted at the COVID-19 pandemic.
In fact, the startups are competing directly with Indian IT companies who are also rapidly tapping into the demand for remote working solutions and security. Traditionally, the IT sector has invested heavily on productivity monitoring tools only for client billing purposes. The pandemic has helped them not only offer this solution to clients but also enhance it for more dynamic use.