Taiwan Cybersecurity Outperforms Competition at 2021 SelectUSA Investment Summit

Taipei, Taiwan — 17 June 2021 — Two Taiwan-based companies outperformed all other competition in the 2021 SelectUSA Investment Summit held earlier this month, claiming both first and second place in the cybersecurity industry category.

SelectUSA, the successor to Invest in America, is a summit held by the International Trade Administration of the U.S. Department of Commerce. The summit’s goal is to encourage and promote foreign direct investment (FDI) in the U.S.

The summit historically draws more than 3,000 attendees and over 1,200 global business leaders from approximately 80 international markets.

Since 2017, investment projects directly tied to the summit total over 44 billion USD and have promoted and driven innovation, supporting over 37,000 American jobs.

In the wake of the SolarWinds’ security breach, cybersecurity positions are in demand more than ever before. The U.S. Bureau of Labor Statistics estimates the American cybersecurity workforce to grow by 31% between 2019 and 2029, far exceeding the average forall other occupations.

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Taiwan cybersecurity could be the answer America is looking for.

Taiwan faces a unique security milieu due to its special geopolitical situation, in that it frequently encounters the most sophisticated, persistent and aggressive threats and actors before the rest of the world. These actors, often the largest state-sponsored or criminal syndicates, focus their efforts on Taiwan to try out the newest, most subtle and malicious techniques to further their agendas. Taiwan cybersecurity has learned cyber resilience in one of the toughest places. The Taiwan government has also invested 11 billion NTD (400 million USD) in its local cybersecurity industry development.

It should be no surprise then that two Taiwan companies outperformed all other competition in the 2021 SelectUSA Investment Summit held earlier this month, claiming both first and second place in the cybersecurity industry category — CYBAVO and CyCraft Technology respectively.

CyCraft Technology, a cybersecurity firm based in Taiwan, delivers innovative autonomous security for endpoints, data centers, cloud, and hybrid environments to help small, medium, and large organizations secure their assets and data via their proactive, intelligent, and adaptive security platform, CyCraft AIR.

CyCraft AIR reduces SOC workload by leveraging its AI-powered technology to unify threat intelligence, detection, forensics, response, and remediation into one simple-to-use security platform. Since its founding in 2017, CyCraft has experienced rapid growth, expanding across Southeast Asia, including Singapore, Japan, Thailand, Vietnam, and Malaysia.

"Building off of our sustained excellence in the MITRE Engenuity ATT&CK evaluations and detection and response space, CyCraft has also been utilized in many emergency investigations in Japan. In addition, more than 30% of financial institutions in Taiwan are current CyCraft customers."— James Cheng, Chief Operating Officer of CyCraft Japan

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“CyCraft strives for human-AI collaboration in cybersecurity. In two years, we developed and put into operation an innovative AI-powered SecOps platform, CyCraft AIR — effectively orchestrating endpoint telemetry, MITRE ATT&CK context, global threat intelligence for optimized situation awareness, and efficiently managing millions of endpoints from government and enterprise customers in the Asia-Pacific region.”— Benson Wu, CyCraft Founder & CEO

CYBAVO, founded in 2018, provides organizations with blockchain, business-ready applications, helping them secure their digital assets and manage them with ease. CYBAVO VAULT is a cryptocurrency storage and wallet management system that allows organizations to manage multiple wallets and perform multiple streamlined blockchain transactions securely.

“Bitcoins thrive from the blockchain community, and they have faith in returning 100% freedom back to people by letting everyone own their own private keys, but owning keys comes with great responsibility and great risk. CYBAVO wants to free people from taking care of the private key.”— Paul Fan, CEO at CYBAVO