IMSYS is awarded research grant to develop its AI technology for applications in Cybersecurity for IoT
Vinnova, the Swedish Innovation Agency, has on 2 July 2021 awarded a research grant to Imsys AB, for a project in the area of "Cyber Security for Advanced Industrial Digitization", with designation "Smart and secure Gateway for the Internet of Things". The project "Smart and secure Gateway for IoT" is coordinated by RISE (www.ri.se). Uppsala University, Imsys AB, Wittra Sweden AB and IoT Bridge AB are participating in the project.
The project proves a breakthrough for Imsys ALICE platform, which in the project serves as the projects platform in developing AI applications for Cyber Security solutions on IoT Gateways. The need to develop smart Cyber Security solutions is ever increasing. We have recently witnessed unwanted damage from global hacker attacks underlining the never ending demand for better Cyber Security. The application area is commercially interesting.
In April 2021, Imsys was invited by a leading research group at Uppsala University to collaborate with Wittra Sweden AB and IoT Bridge AB in an innovation project within IoT under the coordination of RISE. RISE, Research Institute of Sweden AB, is a Swedish state owned research institute, which collaborates with universities, business and society for promotion of innovation development and sustainable growth.
Vinnova approved the application on 2 July 2021. The project will commence immediately and plannss for summit in August 2023. The budget is SEK 6.0 million, of which Vinnova's research grant covers 5.0 M. Imsys' share of the project budget amounts to SEK 2.0 million, of which SEK 1.4 million is Vinnovas research grant.
The project is conducted with the objective of improving Cyber Security in IoT Gateways by utilizing Artificial Intelligence (AI) and is based on Imsys ALICE accelerator platform. To Imsys this research and development process opens up for important opportunities of innovative collaboration with Uppsala University and with leading Swedish companies.
- I see the project as an important recognition and breakthrough for Imsys ALICE platform. The project is based on the ALICE platform, which will now be used in qualified research and in commercial contexts. I am both happy and proud of this success for Imsys. AI and IoT are both important application areas for Imsys, says CEO Magnus Stuart.
It is equally important and inspiring for Imsys with opportunities to contribute to society and for commercially interesting collaboration with leading researchers and Swedish industrial companies. The project verifies Imsys technology in a new, very expansive area of AI applications in Cyber Security Solutions.
This press message is a translation from the original which was published in Swedish, prior to this English version. In any and all legal considerations, the press message published in Swedish serves as the company's official version.
This PM contains forward-looking statements which reflect the Company's current view of future events and the Company's operational and financial performance. Although the Company believes that the expectations reflected in such forward- looking statements are reasonable, there can be no guarantees that these expectations will prove to be correct. Forward-looking statements only express the Company's assessments and assumptions at the time of the PM. The Company makes no commitment to publish updates or revisions of forward-looking statements as a result of new information, future events or similar circumstances other than as required under applicable securities laws or regulations or applicable stock exchange rules.
For more information, please contact:
Magnus Stuart, CEO [email protected] +46 706 211 350
IMSYS IN SHORT
Imsys AB (publ) is a Swedish based high tech microprocessor company with focus on AI, founded in 1981. The company is a lead designer and developer of high performance, low energy consumption, flexible microprocessor solutions for AI applications. Imsys ALICE technology offers advantages in EDGE AI applications for automotive, security, computer centers, 5G mobile communication, block-chain and image recognition.
The company's shares are listed on NGM SME market
Göteborg Corporate Finance serves as Imsys appointed mentor and is available on telephone +46 31 13 82 30.
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