Tag: Investment

TrustNet is an important network initiative to keep pace with- and capitalize on- growth opportunities related to securing technology and critical infrastructure. Whereas the market for frontier technologies (AI, IT, OT) is projected to grow rapidly from $2.5 trillion in 2023 to $16.4 trillion by 2033, and the market for AI assurance is expected to double every year (108% CAGR), TrustNet represents a significant strategic opportunity to differentiate Norwegian companies and technology ecosystems on trust.

Norway’s private sector and research institutions have the expertise required to ensure digital trust, but digital infrastructure and innovation ecosystems for data sharing and AI are fragmented across sectors and domain silos. Norway could be an ideal innovation testbed for next-generation digital infrastructure, but coordination across public and private sectors with investors and research institutions is needed to enable trust in technology, and with it, capital and procurement channels for growth.

TrustNet is supported by leading experts and stakeholders in secure IT-OT integration, including SMEs, municipalities, investors, and research partners, notably SFI NORCICS, NESIOT and the European Cluster for Securing Critical Infrastructures (ECSCI). 

Akershus Fylkeskommune has provided funding to establish TrustNet as a business network, and the TrustNet Secretariat and Board of Advisors are additional grant applications to finance coordination of national and international collaborations in R&D, marketing, investment, and distribution/export of Norwegian technology and expertise over the next 3 years.

TrustNet’s members are involved in national and international R&D proposals with a total cost budget of about 680 MNOK. An already approved EU innovation project “AI-Cyber” has an estimated cost of €31 million with collaboration partners in 12 countries, and 4 use cases in Seaport Critical OT, Banking, Critical Telecommunications, and Industrial Automation OT. In addition, TrustNet members are developing proposals in Norway for use cases in Healthcare, Finance, Energy, Maritime, and Dual-Use.

Call to Action, Requirements and Benefits

• TrustNet is calling on stakeholders, involved with critical infrastructure and digital transformation, to join the initiative and provide non-binding letters of intent (LOI) as an entry ticket to participation in upcoming project proposals, funding applications, access shared infrastructure, pilot demonstrations, networking events, and delegations to promote and export expertise and solutions for secure IT-OT integration.
• LOIs indicate areas of interest (e.g., provide/receive expertise, tech) and will serve as a basis for planning activities, assembling consortia and task forces where applicable. 
• TrustNet will provide each partner with an overview of relevant opportunities at least annually. 
• Indicative partner financing and/or personnel and technology contributions can be applied to receive benefits of at least equivalent value (e.g., access to services, products, financing).

No obligations or payments are binding until specific activities and benefits are confirmed.

To express interest in the TrustNet initiative, please contact the TrustNet Secretariat at trustnet@venturenet.no.

For more information, feel free to contact any TrustNet representative, e.g., Christian Haukaas, Sokratis Katiskas, Habtamu Abie, and Inge Kampenes.