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Investors Increase Funding for Big Data Start-Ups

Big data

Today’s IP news roundup highlights some of the latest headlines in big data, network security and more:    

  • Big data has attracted nearly $5 billion in funding over the past five years. Now’s a good time to be a big data start-up. Yahoo! Finance reported that 2012 was the best year for big data funding so far, as the number of deals grew 19.5% from 2011. The article featured an interview with Roger Ehrenberg, founder of venture capital firm IA Ventures, who discussed what he looks for in companies that he partners with.

When it comes to big data trends, Ehrenberg states, “One area that’s particularly interesting is reshaping manufacturing. Why would an IT-oriented invest[ment] firm want to get involved in that? A lot of the innovation that’s happened has not filtered down to the shop floor. They have these proprietary systems that are disgustingly expensive, very inflexible, and that they’re shackled to. Eventually that has to change because of the trend toward serialization.” He also said, “Cyber[security] is scorching hot right now, especially with the infiltration of mobile.”

For more information on big data investment trends, see the Yahoo! Finance article.  

  • According to the 2013 Business Software Alliance (BSA) Global Cloud Computing Scorecard, Canada is becoming more cloud-friendly. This year’s scorecard ranked Canada as number nine out of the world’s 24 leading IT economies when it comes to facilitating the proper legislative, policy and privacy frameworks for cloud computing. According to an article on, Canada has moved up from number 12 last year. The article also quoted Matt Reid, BSA senior vice-president of external affairs, who said, “It’s encouraging that Canada has risen in the rankings by adopting policies that are conductive to cloud innovation — but there remains room for improvement … it’s imperative for Canada to focus on improvements in cybercrime and security in order to improve its standing and help grow the global cloud.” For more information, see the article or click here to download the 2013 BSA Global Cloud Computing Scorecard 
  • Cisco poses a network security challenge for small to mid-size businesses (SMBs). If you are integrating wireless into your SMB’s network, it is critical to protect your network from hackers, malware and other threats. The Cisco Canada Blog states that “using outdated protocols for wireless security, like WEP (Wired Equivalent Privacy), should be avoided as best as possible. Today, small and mid-size businesses have access to newer, safer alternatives for network security, so it should never be an afterthought. Securities such as WPA (Wi-Fi Protected Access) and WPA2 help safeguard against hackers and are providing necessary security precautions.” The blog post also suggests using a virtual private network and a wireless security suite to protect against security threats.  
  • And finally … a surprising number of organizations don’t respond to security warnings and leave sensitive data unprotected on the web. The Computerworld Healthcare IT blog reported that network security experts recently tried to warn a Pennsylvania hospital that its staff and patient data could be easily accessed online. However, no one from the hospital responded to the repeated warnings. The blog post states that this behaviour is more common than you may think. For more information on organizations’ failure to act on security warnings, see the Computerworld article.

What is your take on today’s news? Feel free to share your opinions below.

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