PRESS RELEASE: Business Finland has awarded a 1.3 million Euro R&D grant to SSH.COM for development of quantum-safe cryptography
For Immediate Release
Helsinki – May 4, 2020 – In connection with the national Post-Quantum Cryptography project, Business Finland has awarded SSH.COM a 1.3 million Euro grant for developing quantum-safe crypto technology. In addition to SSH.COM, the consortium comprises leading Finnish cybersecurity companies and research institutions, as well as international partners. Key national security agencies also participate in the project.
The project is a part of the Digital Trust Finland program by Business Finland focused on driving collaboration between Finnish companies and the globally growing market of digital trust-based business models and solutions. The program supports also supports the assessment of the opportunities and threats posed by new technologies such as quantum computing.
The project consists of several work packages that focus on the research and development of PQC technologies. The project will also produce strategy advice on Quantum computing and Post-Quantum Cryptography and a policy brief to increase the awareness of decisionmakers and other stakeholders on these issues. SSH participates in several of the work packages, and it is the leader in a critical work package that creates a reference implementation of quantum-safe encryption to the SSH NQX product family, tests it thoroughly, and analyzes the gaps and effects for successful implementation into national use.
SSH estimates that the funding will commence during the current quarter, and the project will run through the year 2022. The funding will be recognized under other operating income from 2020 to 2022 in proportion with incurred costs.
"The development of quantum-safe encryption technologies is vital for both the growth of SSH.COM and the national cyber-preparedness of Finland,” said Dr. Teemu Tunkelo, CEO of SSH.COM. ”Members of this consortium include leading Finnish players. In cooperation with them, we want to ensure the Finnish cybersecurity cluster remains a global leader and further increases its competitiveness compared to international competitors."
”The importance of quantum computing is constantly growing, and it is imperative we prepare for it from both the technology and national policy perspectives,” said Ms. Kirsi Kokko, Head of Digital Trust Finland at Business Finland. ”We are very pleased that the PQC consortium includes a large group of leading cybersecurity and cryptology experts from the private sector and research institutions.”
About SSH.COMSSH.COM helps organizations access, secure, and control their digital core – their critical data, applications, and services. We have over 3,000 customers around the world, including 40 percent of Fortune 500 companies, many of the world's largest financial institutions, and major organizations in all verticals. We are committed to helping our customers thrive in the cloud era with solutions that offer secure access with zero inertia, zero friction, and zero credentials risk. SSH.COM sells online; through offices in North America, Europe, and Asia; and through a global network of certified partners. The company's shares (SSH1V) are quoted on the NASDAQ Helsinki. For more information, visit www.ssh.com.
About Business Finland
Business Finland is the Finnish government organization for innovation funding and trade, travel, and investment promotion. Business Finland's 600 experts work in 40 offices globally and 16 regional offices around Finland. Business Finland is part of the Team Finland network. www.businessfinland.com
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