IXUP selected for Austrade’s USA Landing Pad program
28 November 2019: IXUP Limited (ASX: IXU) (“IXUP” or the “Company”), the Australian technology pioneer that enables data to remain secure during compute and analytics, today announced it has been selected to join the Austrade Landing Pad program. The San Francisco-based hub provides corporate residency and advisory services to support IXUP’s growth into the USA – the world’s largest security market.
IXUP CEO Peter Leihn said: “We look forward to continuing to build relationships with potential customers and strategic partners in the United States leveraging Austrade’s business connections. San Francisco and Silicon Valley have nurtured many successful technology companies and the Landing Pad expedites access to our largest target market.”
“Many US companies and government agencies are now considering how homomorphic encryption may enable them to work more securely and productively. This Austrade supported program will enable IXUP to develop the appropriate legal structure to operate in the US and to convert our leading technology into commercial outcomes.”
IXUP’s platform addresses a deep flaw in current data sharing and analytics programs (such as loyalty schemes, population scale health and tax records and multiparty data lakes) which are architected on sharing unencrypted data or the encryption keys themselves with collaborating partners, researchers or regulators. IXUP allows analytics to be performed on data while it remains fully encrypted using homomorphic encryption. Reducing exposure to citizen or customer security and privacy risks is essential to industry and governments moving forward.
IXUP’s platform provides organisations an opportunity to obtain, share or develop insights from multiple data sources in a secure and rules-governed environment, driving increased monetisation, productivity and assurance.
IXUP CEO Peter Leihn also noted “IXUP has joined the homomorphic encryption consortium which includes Microsoft, Intel, IBM, Google and Mercedes Benz to create standards around this ground breaking technology which will change the way computation and analytics can be done securely. A presence in San Francisco will allow IXUP to actively participate in the consortium and development of industry and standards.”
The Landing Pads program provides market development capabilities and an initial residency in a co-working space to support outstanding Australian companies exporting into the global market.