Luke Ritter Discusses the American Security Challenge

January 12, 2009

The 2009 American Security Challenge will take place on May 21, 2009 at the Ronald Reagan Building and International Trade Center in Washinton, DC. The Challenge will host the competition in conjunction with the Homeland Security S&T Stakeholders Conference East, presented by the National Defense Industrial Association with subject matter support provided by the Science & Technology Directorate of the U.S. Department of Homeland Security.  The Challenge is chaired by Roger London.

In 2008, more than 75 companies presented their business plan for consideration to win the $100,000 award money to help them quickly speed their emerging technologies to market. 

One of the reviewers of last year’s competition was Ridge Global Principal Luke Ritter, who recently discussed what he looked for when evaluating company submissions:

Technology available now. “I was looking for technology solutions that were more than a science experiment and a slick PowerPoint brief. Lab science and R&D are always important in the long run, but the security market needs compelling, commercially available technologies right now to address a host of challenges.”

Business AND security benefits. “Real return on investment can be realized when investments in security initiatives result in enhanced security as well as other associated operational business advantages.”

Excellent management. “Executive leadership, security subject matter expertise, sales and marketing acumen and effective technology are all mutually inclusive when it comes to successfully commercializing security solutions—the team charged with managing the firm is critical.”

Show me the money! “Security technology business plans have to accurately and efficiently highlight the compelling financial proposition related to the solution. Too many business plans drone on endlessly about the science and don’t adequately analyze the true commercial potential.”

Technologies that match real requirements. “The best security technology business plans are those that clearly identify the requirements, applications and market demand for the product. Investors don’t want to back technology research projects…they want to put money behind solutions that have marketable commercial benefits.”

To learn more about the American Security Challenge, click here. Contact the Challenges’s executive director here.

Ridge Global Contact: Michele Nix +1-202-833-2008