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Security Technology Institute, CyberPoint International, and Vir2us Usher in New Wave of Tech Growth for Maryland

"Cyber Security and other related security technologies represent an unparalleled economic development opportunity for Maryland," says Allen C. Shay. STI's Chief Executive Officer.

STI, a non-profit, public-private partnership headquartered in Baltimore, plans to help Maryland capitalize on its strategic location near many of the nation's top federal agencies by launching programs that will position the State as a global epicenter for the rapidly expanding cyber security technology industry.

"Leveraging as seed capital some of the $30 billion in federal spending projected for cyber security, STI is focused on recruiting promising new security technologies and technology companies to Maryland, and assisting in the development of new homegrown technology companies that ultimately will create vibrant domestic and export markets for their products and services," Shay continues.

The STI team returned yesterday from the U.K. after meeting with 17 promising new security technology companies as guests of the U.K. Trade Ministry. Other outreach programs already are planned in both the United States and abroad for the first quarter of 2010.

Of the two other firms now calling Maryland their corporate headquarters, CyberPoint has the deeper roots in the region. The cyber security-related engineering and technical services company was founded by Karl Gumtow, a long-time Maryland resident who previously served as Vice President and Director of SRA International's Intelligence and Space business unit and Chief Operating Officer of RABA Technologies.

CyberPoint currently has 10 employees, but plans to add "more than 100 new positions over the next two years," says Gumtow. "We believe that the cyber security market opportunity ultimately will be what delivers on the vision of the Digital Harbor." CyberPoint will open its Inner Harbor office January 1, 2010.

Vir2us, Inc. is relocating to Maryland from California's Silicon Valley. A stealth-mode company, Vir2us is committed to changing the game in computer security through innovation. Vir2us initially will be headquartered in Baltimore City's Emerging Technology Center.

Vir2us CEO George L. Heron, the former Chief Scientist at McAfee, brings not just his company but a wealth of expertise to this growing market. Heron notes, "Our decision to move was in large part due to the support we received from STI and its programs, which we plan to take advantage of in order to capitalize on the government market opportunity."

Those STI programs include "Rapid to Revenue," a program designed to help both U.S. companies lacking U.S. government market expertise and foreign companies to gain rapid and cost effective access to the U.S. government market for security-related products.

Delivered through a partnership of more than a dozen experienced security technology companies, "Rapid to Revenue" is designed to help address the many hurdles that might otherwise prevent a commercial technology or tech company from successfully entering the government market.

A second STI program, "Cyber Soft Landing," will be launched in the first quarter of 2010. This cyber-specific program will offer Maryland business incubation services including facility, legal, and accounting support, financial services, and human resource development. This program will make Maryland a compelling location of choice for companies looking to establish a foothold in this market.

Collectively, these three companies represent more than just hundreds of new jobs for Maryland. According to Shay, "These companies are the beginning of a wave that, with the help of the Security Technology Institute and its partner companies and sponsors, will turn into an economic development tsunami for the State of Maryland."

Security Technology Institute (STI)
Ray Weiss, 443-451-7144
rweiss@weissprassociates.com
or
Jessica Trzyna, 443-451-7144