Six startups pitched their business models to a group of over 600 potential partners and investors at gener8tor’s premiere night in Milwaukee.
The companies, which participated in the accelerator’s 12-week mentoring program, were:
* Third Party Trust, a monitoring and rating system for gauging third-party vendor risk levels.
“Think of LinkedIn married to FICO scores,” said Karl Gouverneur, a Northwestern Mutual representative who introduced the company as an official mentor.
According to Anders Norremo, CEO of Third Party Trust, third party vendors that work for a variety of industries represent an enormous data breach risk. His company, he says, changes that situation.
He brought up data breaches at Target and Home Depot, which both occurred because of vendor insecurity, as prime examples of how corporations and smaller companies are leaving themselves exposed. In these breaches, information from over 100 million credit cards was stolen.
“The cost can’t really be measured,” said Norremo. “Why? Because it involves the most important thing that was lost, and that’s trust from your customers.” Read the full story here.