Last week I attended the RSA Conference (RSAC) Innovation Sandbox for the first time. Not only was I an attendee, but I also was fortunate enough to host a CTO panel during the event. For those that aren’t aware, the Innovation Sandbox is one of the more popular programs of the RSAC week. The highlight of the Innovation Sandbox is the competition for the coveted “Most Innovative Company at the RSA Conference” award. This is basically the information security version of ABC’s Shark Tank. If you want to learn about the up-and-coming vendors and technologies, this is one place to do it. To participate, companies had to meet the following criteria:
The product has been in the market for less than one year (launched after February 2013).
The company must be privately held, with less than $5M in revenue in 2013.
The product has the potential to make a significant impact on the information security space.
The product can be demonstrated live and on-site during Innovation Sandbox.
The company has a management team that has proven successful in the delivery of products to market.
Most of them are US startups initially backed by venture capital (VC). Some of them are now worth more than $1 billion; others are planning for an IPO; and a couple of them have been acquired for a lot of money while generating little (if any) revenue. Most originated in social media, in the collaborative economy, and pretty much all of them depend on mobile as a significant and growing part of their business. They represent the typical attendees at the LeWeb conference in Paris, looking to become the next Facebook or Amazon in the next 10 years. Some other smaller and less well-known startups competing in LeWeb's startup competition this year may join this list: http://paris.leweb.co/programme/startup-competition
In fact, what they really have in common is that they are all digital disruptors leveraging digital platforms to create new experiences on top of connected devices. They are taking advantage of open development tools and free infrastructure resources to overhaul products, invert category economics, and redefine customer relationships. They are more agile than traditional companies. As my colleague James L. McQuivey stated recently, digital disruption requires an organizational fix if you don’t want your company to be disrupted.