Autonomy founder Mike Lynch has revealed that his next investment project is likely to be in the cyber-security space and claimed that none of the market incumbents can truly solve businesses' security problems.
In a speech last night at the Cass Business School in the City of London, the technology entrepreneur dropped hints as to where the $1bn Invoke Capital fund he founded a year ago might look to invest next. Lynch (pictured left) picked out augmented reality and genetics as two areas of interest. The dawn of the wearable computing era represents "a radical way in which we are moving on from [simply using] text-based information", he explained.
"With genetics... there has been a lot of excitement about the ability to sequence DNA; it is not about sequencing, it is about the data we can get from the sequencer," he added.
But the security sphere seemed to emerge front and centre as the former software chief's primary area of interest. He outlined that "cybersecurity is an amazing area" that is attempting to address problems that are "completely unsolved at the moment".
"The IT industry will sell you whatever it can, rather than what you need, and the IT industry has told you that you need to build a big wall," added Lynch. "You cannot build a wall around [an entire city] and, in any case, everybody's already inside that wall; you need something more like a biological immune system. There is a real business need and nothing that is around at the moment is going to solve it."
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