Intrinsic ID Awarded EU Grant under Horizon 2020/SME Instrument Phase 2 Program for INSTET Project

SUNNYVALE, Calif., United States and BRUSSELS, Belgium -- March 26, 2018 -- Intrinsic ID, the world’s leading provider of digital authentication technology for Internet of Things security and embedded applications, announced today it has been awarded an SME Instrument Phase 2 grant by the European Commission as part of the Horizon 2020 SME Instrument program. The 1.7 million Euro grant will fund Intrinsic ID’s INSTET project, a program to develop unique fingerprinting technology for securing the IoT.

“We are exceptionally gratified to receive this recognition by the European Commission, and that it has seen the value in our INSTET project, which we believe will leverage European innovation to deliver scalable security for IoT devices,” said Pim Tuyls, chief executive officer of Intrinsic ID. “This award is all the more significant given the highly competitive field of entrants. I am immensely proud of our team.” More than 1,100 companies applied in the SME competition, with less than 2 percent receiving grants.

INSTET is a security solution based on Intrinsic ID’s SRAM PUF – Static Random Access Memory Physical Unclonable Function – technology. It is intended to protect chips that are widely present in IoT devices by making them physically and cryptographically secure, and thereby very resilient to advanced attacks. INSTET will work as a root of trust – a set of core software components that are always trusted by the chip, and which provide a trust foundation for the IoT device and distributed IoT systems.

“The risk of attacks to IoT-connected devices represents a growing concern in Europe and throughout the world,” said Bernd Reichert, Head of SME Instrument. “We are pleased to support the INSTET project as Intrinsic ID continues its important work to develop security technology that protects consumers and businesses.”

The SME Instrument is part of Horizon 2020, the European Union framework program dedicated to innovation and research managed by the European Commission. Its purpose is to support high-growth and highly innovative SMEs with global ambitions.

About Intrinsic ID

Intrinsic ID is the world’s leading digital authentication company, providing unclonable identities for all Internet of Things devices in the world. Its security solutions, based on Intrinsic ID’s patented SRAM PUF technology, can be implemented in hardware and software, and are used to validate payment systems, secure connectivity, authenticate sensors, and protect sensitive government and military systems. Intrinsic ID’s award recognition includes the Frost & Sullivan Technology Leadership Award and the EU Innovation Radar Prize. Intrinsic ID security has been proven in millions of devices certified by Common Criteria, EMVCo, Visa and multiple governments. Visit Intrinsic ID online at http://www.Intrinsic-ID.com.