{"id":54745,"date":"2023-10-20T16:28:43","date_gmt":"2023-10-20T16:28:43","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/cryptophoto-hopes-to-cash-in-on-coin-prize-startupsmart\/"},"modified":"2023-10-20T16:28:43","modified_gmt":"2023-10-20T16:28:43","slug":"cryptophoto-hopes-to-cash-in-on-coin-prize-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/cryptophoto-hopes-to-cash-in-on-coin-prize-startupsmart\/","title":{"rendered":"CryptoPhoto hopes to cash in on COIN prize – StartupSmart"},"content":{"rendered":"
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Queensland-based online security startup CryptoPhoto<\/a> has received an exclusive place in the TCS Co-Innovation Network (COIN)<\/a> after being selected from six other tech solution companies at a forum in Sydney last week. <\/p>\n

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CryptoPhoto combines cryptography with a user\u2019s natural ability to match pairs of similar photographs to create a new login method that counteracts phishing hacks and neutralises malware.<\/p>\n

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Using the service, a photo is display on a website, and the user then selects that picture from a grid on an iPhone app or paper card.<\/p>\n

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The startup will now have access to the TCS global innovation ecosystem, including international VC funds, leading startups, academic institutions and mentors.<\/p>\n

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CryptoPhoto CEO and co-founder Chris Drake, who pitched at the forum last week, says this prize will have real-world consequences.<\/p>\n

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\u201cWe\u2019ve won a couple of awards before, but this one is different,\u201d Drake says.<\/p>\n

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\u201cIt comes with an endorsement from a big company that\u2019s going to do something with it. It\u2019s not just a pretty thing to sit on a shelf; I can see a place where it can lead to money.\u201d<\/p>\n

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As part of the prize, CryptoPhoto will receive membership into the COIN program, a fully-paid trip to Silicon Valley along with commercialisation and strategic management advice.<\/p>\n

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The competition was open to startups in Australia and New Zealand focusing on solving high-value business challenges.<\/p>\n

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Drake hopes the award will help solve the main challenge CryptoPhoto has faced since launch.<\/p>\n

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\u201cThe problem we\u2019ve been having is trying to get people to understand they need to use it,\u201d he says.<\/p>\n

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\u201cThere\u2019s some sort of weird paralysis going on in the security industry, they\u2019re stuck in a loop of getting the crap hacked out of them and then not understanding that there is a way to fix it.\u201d<\/p>\n

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He\u2019s spoken to \u201cover 150 big companies\u201d that have understood they need the product, only to have those conversations peter out.<\/p>\n

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\u201cWe\u2019re a small startup, so that\u2019s a difficult and risky thing, and because we\u2019re doing security it makes it twice as hard,\u201d Drake says.<\/p>\n

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\u201cBeing a security startup is just a nightmare basically.<\/p>\n

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\u201cWe\u2019re hoping the TSC involvement is going to give us access to a 300,000 plus strong company network, with an enormous reputation out the front.<\/p>\n

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\u201cThey\u2019ll be the people the customer sees and we\u2019ll be offering our technology.<\/p>\n

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\u201cIt takes out the whole small startup rubbish from the equation so people can look objectively at the fact we solve a massive problem.\u201d<\/p>\n

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Raising your <\/i>first round of capital<\/i><\/a>? Starting a <\/i>crowdfunding campaign<\/i><\/a>? Want to grow your business <\/i>with Instagram?<\/i><\/a> <\/i>StartupSmart School can help.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

Queensland-based online security startup CryptoPhoto has received an exclusive place in the TCS Co-Innovation Network (COIN) after being selected from<\/p>\n","protected":false},"author":2,"featured_media":58178,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,27,8,11,1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/54745"}],"collection":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/comments?post=54745"}],"version-history":[{"count":0,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/54745\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media\/58178"}],"wp:attachment":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media?parent=54745"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/categories?post=54745"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/tags?post=54745"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}