Should CISOs make friends with VCs-

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This week we’re focused on…

Why CISOs should build relationships with VCs.

Why? 

Because we asked Awwab Arif (CISO at Bank of Hope) how he builds positive relationships with the various partners and stakeholders he interacts with as a CISO. And he said this: 

“I also find it beneficial to forge relationships with venture capitalists, communicating our company's particular issues.” 

The benefits of building relationships with VCs

“When a VC encounters an entrepreneur proposing a solution aligning with our needs,” Arif went on, “they can facilitate an introduction, allowing us to evaluate the concept further and contribute to the development of a robust product that addresses broader industry needs.”

Putting in the effort to build relationships with VCs might not be top of the priorities list for a busy CISO. But it’s worth doing – because you can set yourself up to access the ideal solutions for your organisation’s security challenges. 

You could gain strategic influence over product development 

When you network with VCs and participate in venture capitalist communities, you may have the opportunity to influence product roadmaps and encourage VCs to invest in entrepreneurs and startups that align with your needs. 

Your involvement could allow you to influence product features and functions when VCs are collaborating with entrepreneurs to develop new products. And this is good for everyone – it helps ensure the startup has product-market fit, and it offers you a route to solve your organisational challenges. 

CISOs who proactively engage with VCs can also gain early access to emerging technologies – and this gives you a competitive edge. As the world of tech continues to change incredibly fast, CISOs face the major challenge of staying ahead of the curve. 

Adopting a VC mindset can improve your skills as CISO

Venture capitalists have a particular way of looking at the cybersecurity ecosystem: with an appetite for risk, an eye on the future, and a willingness to embrace new opportunities and fail fast. 

Interacting with VCs and embracing their mindset gives CISOs the chance to look at their work in a different way. You’ll learn how to very quickly evaluate new technologies and envision how they could work for you – and you’ll develop strategies to rapidly adopt new technologies that can solve key problems faced in your business. 

This ability to move quickly and take risks is valuable when you consider the fast-paced nature of the field of cybersecurity today: threat actors are evolving fast, security operations are evolving fast, and CISOs must be able to adapt and adopt new working models at speed. 

So where do you start connecting with venture capitalists? 

Join us in Riyadh for MEA 2024. You can connect face-to-face with VC investors who have a specific interest in cybersecurity, and plant the seeds of relationships that could enhance your work as a CISO. 

We recommend…

• Going wide and light. You don’t have to establish deep and meaningful relationships straight away – have a conversation, connect briefly, and exchange contact details.
• Keeping a networking record. Every time you meet a VC at BHMEA (or at any event), write their details down – and jot down what you talked about with them, too. This means you can follow up with an email after the event and include personal, memorable details about your encounter. This shows them you were paying attention, and lays the foundations for building a positive relationship over time.
• Be transparent about your goals. When you follow up after that first meeting, tell the VCs you connect with that you’re actively expanding your network of VCs and you’re interested in sharing insights from your work to support their strategic portfolio development. This relationship will be good for them as well as you – so don’t be apologetic about it. 

Read our full interview with Awwab Arif: A CISO’s perspective on relationships and UX.

Do you have an idea for a topic you'd like us to cover? We're eager to hear it! Drop us a message and share your thoughts. Our next newsletter is scheduled for 14 August 2024.

Catch you next week,Steve DurningExhibition Director

Join us at MEA 2024 to grow your network, expand your knowledge, and build your business.