Why OmniCompete?

Our Experience | Our Networks | Our success stories | Our Competition Model | Our ability to instil trust in innovators

1. Our experience

   We have already successfully built an innovation competition and event company, called the Global Security Challenge, focusing on the security sector.  Founded in 2006, we achieved significant growth each year.  In 2010, the Global Security Challenge became the security division of OmniCompete Limited. 

   It has been the core business of our security division to run and organize competitions. We have an established track-record of success and brand in this sector.  We have challenged the brightest minds in research, start-ups and labs to address some of the most vexing security issues on earth and have created new networks of investors and governments interested in our start-ups.  This has effectively caused our security division (Global Security Challenge) to become a launching pad for security innovation.

   In the security sector, we have hosted or are currently hosting over 20 international competitions, with over $2.9M in prizes. We can count both public and private institutions amongst our clients and our innovators have gone on to generate more than $104.5 million in investment and acquisitions. Finalists have subsequently secured contracts with government clients, such as the US Department of Energy, the US Navy and the US Department of Defense, and with industry majors, such as Siemens and Bayer AG.  Recently, tenCube, an Asian regional Finalist which we unearthed in 2007, was acquired by McAfee.

   We have done consulting work for German and UK government agencies, advising them on innovation programmes.

   

2. Our networks

   • Over 4,000 start-ups, SMEs and innovators are active members of our internal network
   • Over 10,000 innovators and industry professionals subscribe to our monthly Newsletter
   • Over 900 industry professionals attended our worldwide events in 2010 in Asia, North America and the Middle East 

3. Our success stories

   • Our GSC Asia Finalist from 2007, TenCube, was acquired by McAfee in 2010 for $10m
   • Our Cyber winner 2009, Ksplice was acquired by ORACLE in July 2011
   • Our 2006 GSC Finalist Vumii, was acquired by Opgal in Israel in 2010
   • Our winners and finalists have gone on to generate more than $100 million in investment and acquisitions.
   • Our competitions always end with a physical meeting or event, and in 2010 we organized major events around the world that were attended by over 900 senior level security professionals.  We have previously achieved media exposure in the Financial Times, BusinessWeek, Reuters, Washington Post, the Guardian, Wall Street Journal and The Times.

4. Our Competition Model

   The OmniCompete model states that you don’t need to spend millions in order to run a high-impact challenge. Our model is as follows:

   1. Understand what motivates your audience – incrementally staged prizes can to spur innovations and create high impact
   2. Encourage the right kind of interaction – competitions should end with a physical event to encourage deals and facilitate further engagement
   3. Enforce a time constraint – by limiting the time that the competition is open, both the client and the innovators make progress towards their goals in an acceptable timeframe
   4. Keep the net wide – by requiring the lowest investment of time and cash you will receive a broader entrant pool from which the correct filters will help to identify the best fits – sometimes from surprising areas
   5. Apply the wisdom of the crowd by inviting the public to judging and sponsoring

5. Our ability to instil trust in innovators

   We understand that original ideas are among the biggest and most highly valued assets of innovators and small companies. Accordingly, our primary focus is rewarding and promoting good ideas through prizes and connections with industry and investors.

Homepage