Competition looks for the best security ideas

Do you think you have the hottest new technology for security? If so, swing on over to "Global Security Challenge," an international competition that strives to reward the best in security innovation and where top prize takes home a $500,000 cash grant. But you better hurry, because to enter the 2009 competition for the "Most Promising Security Idea" award (which has a cash grant of $10,000), your entries have to be received by Sept. 1, 2009. If you'd have rather gone for the $500,000 grant and strive to be winner of the overall Global Security Challenge, however, you'll just have to wait until next year -- the 2009 competition required those entries to be in by June 15.

The Global Security Challenge program tends to recognize security start-ups that have a technology applicable to homeland security. In 2008, the overall winner of the GSC competition was TRX Systems, which was developing indoor personnel tracking systems. At the same time, HOMErgent, a company that still is in the process of launching, and which wowed the judges with its "breakthrough technology, product line, and business model for delivering high-quality shelters to mass disaster victims, refugees, and the poor in a sustainable manner" was recognized as the company with the "Most Promising Security Idea." Previous winners of the overall competition have included companies developing no-light video surveillance (NoblePeak Vision took the 2007 competition) and laser-based authentication of materials like identification documents (Ingenia Technology won the 2006 competition).

Whatever technology or idea you have, this competition can be a great launching point. According to the Global Security Challenge founders Simon Schneider and Janeen Chupa, the top contenders from previous competitions have gone on to raise over $52 million in capital.

Put on your pocket protector and get to work; when you're ready to enter, bounce over to to get the details on entering this competition. Best of all, entering into the "Most Promising Security Idea" is free, and entrants gain feedback on their ideas from the judging panel.