One Plymouth teen gets a big boost as he looks to build a startup software firm.
A Plymouth teen’s startup business was chosen to receive a $50,000 investment as part of an experiment for young people who want to build things instead of sitting in a classroom.
Alec Ryncavage, 19, received the investment for his Wilkes-barrebased software company CYBIOT. The money was provided through the 1517 Fund’s Invisible College. The 1517 Fund is a Silicon Valley-based venture capital firm.
Hundreds of applications were submitted and Ryncavage was the first applicant interviewed. His Northeast Pennsylvania business was the first to receive a check.
Ryncavage, the youngest Plymouth Borough Council member ever voted into office, has been building technology products in cybersecurity since 2014.
At 15, the Wyoming Valley West graduate had his own business, his own office and his own invention: a computer virus removal product that won him an award in the annual Tecbridge Business Plan Competition.
CYBIOT is a software company that develops cybersecurity technology.
“By replacing network security engineers and equipment, we make it affordable and simple for businesses, storefronts and offices who cannot hire a team of network engineers or purchase enterprise-grade hardware to be protected against 65% of all cybersecurity attacks that target them,” Ryncavage said.
CYBIOT and its team of four partners, five engineers and now three investors are all part of a program coined “The Invisible College,” which features young people working outside of tracked institutions, he said.
Sometimes, he said college dropouts and opt-outs will trade “Zoom University” for a $50,000 investment to work full time on their idea over
four to six months. By the end of those experiments, the companies are expected to receive a “pre-seed investment” of $250,000 to $500,000, he said.
Ryncavage said there is a lot of competition in the cybersecurity industry but he believes the “people who will win at cybersecurity will be the ones who make it the simplest to interact with and understand.”
‘We make it affordable and simple for businesses, storefronts and offices ... to be protected against 65% of all cybersecurity attacks that target them.’
Alec Ryncavage, a 19-year-old from Plymouth, received a $50,000 investment for his software company CYBIOT. The investment came as part of an experiment for young people looking to gain immediate firmbuilding experience outside the classroom.