IQ and HEID Foundation Invest €1.5 million in Dutch Security TechFund
During the kick-off of the IT & Security Hub on 14 June, deputy mayor of the City of The Hague Saskia Bruines announced that InnovationQuarter and the 'Holdingfonds Economische Investeringen Den Haag' (HEID) are co-investing a total of €1.5 million in the Dutch Security Techfund. The fund focussus on Cybersecurity and IoT secured solutions and currently contains €18 million.
The urgency is high to invest in cybersecurity
The increase of cyberattacks and the growth of the number of connected devices pose a great risk to everybody’s security and privacy. The urgency to invest at an accelerated rate in start- and scale-ups that create solutions for this sector is high. That is why TIIN Capital founded the Dutch Security TechFund in 2018, in close collaboration with IQ and HSD Office.
The unique characteristic of this fund is that it does not limit its focus to (cyber)security ánd the cooperation, support and input from parties such as HSD, IQ and business partner KPN Ventures. These are parties that make knowledge available and are part of a large network.
“The cooperation with these parties allows us to establish a strong powerhouse that makes the difference in the cybertech community. We create an ecosystem where specific expertise in cybersecurity and investing comes together. This allows for a focus on successful investments in (cyber)security companies,” according to Michael Lucassen, partner at TIIN Capital.
Francis Quint, Head InnovationQuarter Capital: “Cybersecurity is an important growth market where the region of South-Holland has a strong position, both nationally and internationally. The Netherlands will profit from a strong security ecosystem and the availability of sufficient funding is important for success. TIIN Capital has the network and the expertise to let companies in the security sector grow.”
Impulse for IT & Security ecosystem in The Hague
The ecosystem for IT and Security is developing extensively and is concentrated at the IT & Security Hub near Laan of NOI station in The Hague. HSD and YES!Delft are already established in this area and The Hague Tech is moving here as well. Providing the oppotunity to work more closely together. More info about the IT & Security Hub
Read the official press release (in Dutch)
Picture by: Sacha Grootjans Photography