FTC Offers $25K for Best IoT Security Solution

The Federal Trade Commission has announced it’s holding a contest to develop IoT security tools and is offering the winner $25,000.  The contest, called the IoT Home Inspector Challenge, asks contestants to create a tool that will find and deal with security vulnerabilities in IoT devices, particularly those with outdated software. The agency said the tool can be anything from a physical device to a cloud app.

“Every day American consumers are offered innovative new products and services to make their homes smarter,” said Jessica Rich in the press release. “Consumers want these devices to be secure, so we’re asking for creativity from the public — the tinkerers, thinkers and entrepreneurs — to help them keep device software up-to-date.”

The contest starts March 1 and submissions will be accepted until May 22. Winners will be announced in July. Twenty submissions will be selected in the first round, and those submissions will be narrowed down for the next and final round. The grand prize is $25,000 and several honorable mentions of $3,000 will also be awarded. A panel of five security and technology experts will judge the contest and select the winners.

This is the FTC’s fourth contest under the America COMPETES Act, and the first to focus on the IoT. Complete rules and instructions on how to enter will be published in the Federal Register and will be available on the contest’s webpage at Challenge.gov.

Related:

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