Cyberus Labs concludes the European Commission founded ELIoT Pro project.

Cyberus Labs concludes the European Commission founded ELIoT Pro project.

Press release

Katowice, May 29th, 2020

Cyberus Labs after completing its last technical deliverable due as part of the European Commission’s SME Instrument /Horizon 2020 programme has concluded two-years long journey.

The result of it was development and preparation for commercialization of the breakthrough, end-to-end cybersecurity solution for IoT networks – ELIoT Pro.

ELIoT Pro is to date the most comprehensive system providing protection of users, devices and data.

Overt last two years we have come a long way as a company. Thanks to the support from European Union’s SME Instrument in the framework of the Horizon 2020 research and development programme we were able to focus on work and development of our unique technology. It was a challenging, but also fascinating time for Cyberus Labs.

We have to say that working in the framework of the SME Instrument was great experience and the program was very well thought for SMEs. It not only gives financing necessary to develop the technology but also provides other services very useful to SMEs. One of those services is support, mentoring and coaching provided by experienced EASME Coach that we were able to choose ourselves from the rich EASME’s data base of industry experts available. This support included assistance in the product development roadmap, analysis of the competitive solutions and their offer, team building and company development and many other aspects of the company development so critical for the growth phase. We can say that the support and cooperation with the EASME Coach was one of the most valuable components of entire program.

This is one of the examples of the “smart money” that had been provided within the SME Instrument programme.

The other example are business development and investment opportunities offered to SME Instrument alumni. It is one of “the most wanted” services by any company and shows how the program offered different opportunities to project’s participants thinking also about the business development of the financed technology or product.

But it was not all. Being a member of the prestigious group of the SME Instrument awarded companies we have won the credibility and a position of one of the best and the most innovative European companies. That was and is very helpful in building company’s and ELIoT Pro’s brand and business development.  We need to add also that the SME Instrument is also very “user friendly” program form the point of view of management and reporting. We wish that also national programs were similar in that aspect to SME Instrument.

“On one side we are happy to conclude the project according to the planned schedule, on time with all tasks completed. We are proud of all members of our hard-working international team of engineers, business development professionals and industry experts. On the other side we are closing one chapter of the company’s development which is always a reason to reflect on the past. Now we are entering a new path of bringing our technology to the world. We are happy that during the project we have received already very positive feedback on ELIoT Pro from our partners, prospects and industry experts. It is a confirmation that the original, very courageous concept of ELIoT Pro, has the potential and answers the market’s needs as we expected.” says Marek Ostafil, co-founder of Cyberus LabsELIoT Pro project’s ideator and manager.

“The entire ELIoT Pro’s development project was possible only thanks to the bold approach of the European Commission that had funded it through the SME Instrument program. We hope that in the future the new edition of the Horizon Europe will create similar opportunities for the best European companies and that Cyberus Labs may be one of them in the near future.”, he added.

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About Cyberus Labs

Based in Poland, with proven Silicon Valley experience, we’re a team of cybersecurity specialists that fully understand the new cyber threats faced by your business or organisation, whatever your size.

From traditional sectors who have fully embraced the digital age like banking and e-commerce to the fast-growing world of IoT, your consumers are under threat from hacking attacks in the form of phishing, identity and data theft, and much more. Put simply, we eliminate the risk of stolen passwords or credentials for both your users and devices – with our unique password-free authentication using one-time transaction codes. And that makes your users, data and devices more secure than ever before.

About Horizon 2020 SME Instrument

Horizon 2020 funds high-potential innovation developed by SMEs through the SME instrument. The SME instrument offers Europe’s brightest and boldest entrepreneurs the chance to step forward and request funding for breakthrough ideas with the potential to create entirely new markets or revolutionise existing ones.

With SME Instrument and Horizon 2020 program European Commission acts as a courageous, bold and smart “angel investor”.  Because SME Instrument provides not only financing for the most outstanding European SMEs to develop their innovative solutions but also coaching and business development support. This is equally important to young and developing companies in their journey to success.

Cyberus Labs is the first Polish company selected for the SME Instrument grant in 2018, since the new evaluation process with pitching in Brussels was been introduced. To date, only 12 Polish SMEs have been selected as beneficiaries of the SME Instrument since its start in 2014.

ELIoT Pro joined the prestigious group of the most innovative European projects selected for funding from the SME Instrument (Horizon 2020) to complete development and bring the product to market as quickly as possible.