Identity, Security, Payments, Biometrics, Smart Cards and Authentication News

Additional government funding in access control could benefit security startups

Monday, October 22, 2007

Security startups in the areas of smart cards, biometrics, and RFID could benefit from recent reports that the U.S. government plans to spend $345 million next year in upgrading secure access to federal facilities and put more concentration on verifying identities. Spending is expected to grow 6.2% annually to about $439 million in 2012. Reports claim that the government cannot handle all the technology and services needed which should trickle down to contractors and startups. The additional money could also generate interest in government contractors to buy out security startups in those areas.

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