A new Cyber Security Growth Centre was launched this week as part of both the Australian Government’s $1.1 billion National Innovation and Science Agenda and Australia’s Cyber Security Strategy.
The global cyber security market was worth US$74.5 billion last year, and is estimated to be worth close to US$170 billion by 2020, according to government figures.
The new centre, which will begin operating in early 2017, promises to drive the development of a vibrant and globally competitive cyber security industry in Australia.
The Growth Centre will work closely with industry sectors across Australia to rapidly build the quantity and professionalism of the nation’s cyber security workforce to become globally competitive and respected.
“It will bring together industry, researchers and governments to create a national enterprise that will provide the foundation for the development of next generation products and services needed,” said the Minister for Industry, Innovation and Science, Greg Hunt.
The centre, which will operate as a not-for-profit company known as the Australian Cyber Security Growth Network Ltd, will ensure Australian businesses can take advantage of this growing market opportunity, Minister Hunt said.
Craig Davies, former Head of Security for Atlassian with over 20 years’ experience and a reputation for delivering innovation in security, will be the Growth Centre’s Chief Executive Officer.
The government will allocate $31.9 million in funding for the growth centre from 2016-17 to 2019-20.
Dan Tehan, the Minister Assisting the Prime Minister for Cyber Security, said Cybercrime costs the Australian economy a conservative $1 billion annually and cyber security was vital and a government priority.
“Our commitment to improving cyber security will create opportunities for Australian businesses to grow their operations and reach new markets with their innovations,” Minister Tehan said.
Interested parties can register their details with the Australian Cyber Security Growth Network here.