Okta Announces SaaS Startup Competition to Build New Identity Security Applications

Rhea-AI Summary

Okta, a leading identity and access management company, has announced its inaugural SaaS Startup Competition. The contest invites early-stage US-incorporated startups to showcase innovations in applications using identity, privacy, and security-enabled workflows. Three finalists will pitch at Oktane24 in Las Vegas, with the winner potentially receiving up to a $500,000 investment from Okta and access to a global network of experts.

The competition aims to leverage Okta's platform, which offers secure identity management, flexible authentication, and seamless integration capabilities. Startups will be evaluated on business potential, innovation, and utilization of identity-enabled workflows. The submission period ends August 31, 2024, with finalist selection around September 30 and the winner announced on October 16, 2024.

Positive

• Potential $500,000 investment for the winning startup
• Access to Okta's global network of identity management experts and venture capitalists
• Opportunity for startups to showcase innovations on a prominent platform
• Expansion of Okta's ecosystem through fostering new identity-enabled applications

Negative

• None.

SAN FRANCISCO--(BUSINESS WIRE)-- Okta, a leading identity and access management company, today announced an inaugural Okta SaaS Startup Competition. The competition invites early stage startups, incorporated in the US, that are building applications using identity, privacy, and security enabled workflows to showcase their innovations.

Startups in the Okta SaaS Startup Competition will be evaluated on business potential, innovation, and the utilization of identity enabled workflows in their product. Three finalists will pitch to a live audience at Oktane24 which takes place from October 15-17, 2024 in Las Vegas. The winner of the competition may receive up to a $500,000 investment from Okta and access to a global network of identity management experts and venture capitalists.

“Okta's platform helps startups develop identity-enabled applications. Startups can capitalize on Okta’s robust tools to free up time so they can focus on building new products and applications without the complexities of managing identity infrastructure. At Okta we never stop innovating - this is a core value of the company that allows us to push boundaries every day. This is an incredible opportunity for startups to showcase their creativity while building for the future,” Austin Arensberg, Senior Director, Okta Ventures said. “We look forward to seeing what new innovations are presented to us as we collectively work to build a world where everyone can safely use any technology.”

SaaS startups and enterprises are already innovating in the Okta Identity Cloud, leveraging its global network where thousands of organizations are securely managing identity with ease, flexibility, and reliability while helping their customers establish seamless user experiences, enhance cybersecurity measures, integrate authentication mechanisms, and more.

Okta’s platform provides many capabilities for startups–including secure identity management, flexible authentication, adaptive access policies, and seamless integration with a variety of applications–to help build differentiated applications, faster. Additionally, startups can leverage integrations with a broad range of technology partners in the Okta ecosystem.

Learn more about the Okta Startup Competition here: www.okta.com/saas-startup-competition or email: okta-saas-startup-competition@okta.com

NO PURCHASE NECESSARY. Open only to United States C Corps or LLCs legally permitted to enter. Submission period ends August 31, 2024; finalist selection will occur on or around September 30, 2024; winner selection will occur October 16, 2024. For Official Rules, see https://www.okta.com/saas-startup-competition-official-rules/

About Okta

Okta is the World’s Identity Company. As the leading independent Identity partner, we free everyone to safely use any technology—anywhere, on any device or app. The most trusted brands trust Okta to enable secure access, authentication, and automation. With flexibility and neutrality at the core of our Okta Workforce Identity and Customer Identity Clouds, business leaders and developers can focus on innovation and accelerate digital transformation, thanks to customizable solutions and more than 7,000 pre-built integrations. We’re building a world where Identity belongs to you. Learn more at okta.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240717111011/en/

Austin Arensberg

austin.arensberg@okta.com

Source: Okta

FAQ

What is the Okta SaaS Startup Competition and when is the submission deadline?

The Okta SaaS Startup Competition is a contest for early-stage US startups building applications with identity, privacy, and security-enabled workflows. The submission deadline is August 31, 2024.

What prize does the winner of the Okta SaaS Startup Competition receive?

The winner may receive up to a $500,000 investment from Okta and access to a global network of identity management experts and venture capitalists.

When and where will the finalists of the Okta (OKTA) Startup Competition pitch their ideas?

The three finalists will pitch to a live audience at Oktane24, taking place from October 15-17, 2024 in Las Vegas.

What criteria will be used to evaluate startups in the Okta (OKTA) SaaS Startup Competition?

Startups will be evaluated on business potential, innovation, and the utilization of identity-enabled workflows in their product.