Initiative Prize to Cryptomathic

by Cryptomathic on 22. November 2017

On the 9th of November, the Aarhus company Cryptomathic was awarded the Initiative Prize by the regional division of DI (Confederation of Danish Industry).

The company provides secure server solutions to a global market. Important for the decision was, among other things, the close relations to the research environment at Aarhus University.

Cryptomathic is a medium-sized and highly specialized company in Aarhus with a global reach out of the ordinary.

The company provides secure server solutions, applying strong cryptography to protect financial transactions efficiently, e.g. for banks and public authorities.

The company was founded in 1986 when leading cryptographers began to use so-called cryptographic algorithms for commercial purposes. Torben Pryds Pedersen, who holds a Ph.D. in Cryptology from Aarhus University, has been with the company since the mid-1990s and, as head of the R&D division, he manages the day-to-day running of the company.

“When I started, Cryptomathic had only a few employees and we primarily worked on smaller projects delivering software that implemented the then new cryptographic algorithms. Today we provide a range of products that apply cryptography for solving various problems”, says Torben Pryds Pedersen, who has taken over the role as Chief Executive Officer – according to him, a natural consequence of his university background and his understanding of the challenges in applying cryptography.

Brings knowledge and business life closer to each other

Cryptomathic has managed to be on the cutting edge of developments and is, therefore, able to deliver products today that meet the current and the future’s increased security requirements in electronic payment systems. In 2003, this resulted in a place on World Economic Forum’s top-40 list of the most innovative companies in the world.

According to DI, the company is a very good example of how knowledge and business life can be drawn together.

“Here we see a true example of how knowledge emanating from the university environment in Aarhus evolves into a company that successfully provides solutions for companies worldwide. Cryptomathic A/S is a role model that we gladly reward this year’s Initiative Prize”, says Chairman of the DI region East Jutland, Anders Strange.

Torben Pryds Pedersen emphasizes that the university has a very strong research group in the cryptography field.

“It enables us to hire Master and Ph.D. candidates who have done cryptography research and have highly specialized knowledge within this field. In the future, the most important thing for us is that the university continues attracting and educating these talents and keeps the level of education high”, says Torben Pryds Pedersen, who also appreciates his contact with the university through his work as an external examiner and a member of the Employers’ Panel.

With this prize, Cryptomathic is now among the 18 short-listed candidates for DI’s national initiative prize, which is presented on DI’s annual conference for small and medium-sized companies in January.

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