Enveil CEO Ellison Anne Williams offers her insights on the venture landscape in 2020 and what it’s like to run a startup in a COVID-19 world.
An analysis of global investment activity for the first half of 2020 provides insight into the enduring strength of the industry, with the combined value of venture capital deals relatively robust, according to a new report penned by PitchBook for Mastercard Start Path, the award-winning engagement program for later-stage startups. Alongside publication of the report, which highlights data from the world of venture investing through the time of COVID, we spoke to Start Path founders to get their insights on the venture landscape in 2020.
“The need for physical separation in recent months brought technical solutions to the forefront, accelerating the shift that may very well have happened in the near future to one that is taking place today,” says Ellison Anne Williams, founder and CEO of Washington, D.C.-based Enveil, a Start Path company that protects Data in Use to enable search, sharing and collaboration. “Both businesses and consumers have been forced to seek out a new normal and thankfully, in many cases, technology was ready for them. The increased activity ultimately serves to affirm the significance of the fintech sector itself.”
Even before COVID-19, says Enveil’s Williams, there was a growing awareness of data privacy and a call for privacy-enhancing technologies, and the pandemic — with the sudden shift to remote work and an increased need for secure collaboration as well as contact tracing — has fueled that narrative.
“While innovation is awesome, it is important to ensure that convenience and efficiency never eclipse security,” she says. “That understanding has been prioritized, thanks to an increase in privacy regulations on a global scale. But businesses need to also start acting based on business needs and consumer demand. Security and privacy protections need to specifically be designed into the system rather than added later just to check a regulatory box.”
Read the full article at Mastercard.