PQShield awarded Innovate UK smart grant

Author: Ben Packman
Topic: Comment, Events, News

We are delighted to announce that we have won our third direct award grant as a part of Innovate UK’s Smart Grants program that invests in world leading ideas that have fast commercialisation potential and can deliver economic return for the UK economy.

Overall this is the fourth PQC related grant that PQShield has involvement in, a testament to our role as a leader in providing post-quantum cryptographic (PQC) solutions. The grant is a recognition of the company’s cutting-edge research and development in post-quantum cryptography hardware, particularly in combating the broader security threats from side-channel attacks (SCA).

PQshield will be using the Innovate UK grant to support development of a PQC signature scheme developed by our in-house experts. This signature scheme allows the application of SCA countermeasures at a minimal cost, eliminating the need to compromise between efficiency and security, and making it viable for resource constrained platforms, such as mobile/IoT devices.

By adopting our PQC solutions, the UK economy will be helping to mitigate the impacts of future cybercrime and cyber espionage which costs the country £27Bn annually by compromising national security, eroding business competitiveness, distorting trade markets, and reducing quality-of-life for the general public that rely on critical infrastructure in their everyday lives.

The award of the grant is an endorsement of the company’s expertise and the effectiveness of its solutions, and it is a strong indication of PQShield’s position as a leader in the post-quantum cryptographic market.