Introducing Snode Technologies, representing South Africa in the MEST Africa Challenge finals
This post was written by MEST Community Manager, Lundie Strom.
On February 28, 2019, MEST Incubator Cape Town welcomed over 100 people to watch the MEST Africa Challenge regional pitch competition. After assessing nine top startups based on their validated problem and solution, business model, market size, MVP, competitor analysis, go-to-market execution and team buildup, the judges were excited to announce the winner from South Africa was Snode Technologies, a cybersecurity and intelligence business that leverages mathematics to analyse data in real-time at scale.
Eight years ago, Snode Founder and CEO Nithen Naidoo decided that the way we approach defense is flawed because of how easy it is becoming to bypass security controls. The World Economic Forum lists cybercrime as one of the top ten risks facing mankind. By 2021, the global cybersecurity spend will be over $1 Trillion, and we would have lost $6 Trillion to cybercriminals.
Nithen decided a more innovative solution was required to address the risks associated with cybersecurity globally. He created Snode to gain insight into prevailing patterns, which are not visible to the human eye, allowing users to identify attacks before they happen.
Snode’s unique approach to cybersecurity leverages advanced mathematical algorithms and the power of machine learning to process dynamic data, in any format, at any scale, in real-time. Its target audience is varied, as its ability to passively defend infrastructure, without affecting critical business operations, has made it attractive to mining, logistics and telecommunication businesses.
When asked why people will be excited about their company, Snode told us, “This is an innovative African solution that has been embraced globally due to its effectiveness, efficiency and simplicity. It solves a serious global problem, in a truly African way, using our local creativity and ingenuity.”
Over the next 2–3 years, Snode hopes to scale to the rest of Africa, South East Asia and the Middle East, and says winning the MEST Africa Challenge finals would “give us the platform to access new African markets, build brand awareness and trust across the continent.”
MEST and Microsoft look forward to welcoming the Snode Technologies team to the finals at the MEST Africa Summit in June!