More AustCyber Projects funding announced

The second round of AustCyber Projects funding has been announced by the federal government.

The government’s aim is to help the cybersecurity sector to grow and create new jobs, with businesses to share in up to $8.5 million in funding.

Minister for Industry, Science and Technology Karen Andrews encouraged companies that can make a significant contribution to the sector to apply.

“Australia’s cybersecurity industry is continually growing and this funding will further boost our ability to become a global leader in the field, creating more Australian jobs while also making the nation more cyber resilient,” she said.

“According to a report released by AustCyber last year, the global cybersecurity market is projected to be worth almost US$250 billion by the year 2026.

“This funding will assist the cybersecurity industry to upskill and expand the sector, and harness the enormous opportunities available to Australia.

“The Morrison government is committed to supporting the cybersecurity industry to reach its full potential by capturing a significant share of the global market and creating jobs for the future.”

Matched funding for individual projects ranges from $100,000 to $3 million, totalling up to 50% of eligible project costs.

Previous funding of $6.5 million has resulted in innovative advancements, including unique smart barcode technology that enables people to identify and verify the quality of products they buy through their smartphone, and technology that allows for independent authentication of personal data stored and managed on mobile devices.

AustCyber was established in 2017 as part of the Australian Government’s Growth Centres Initiative.

The Industry Growth Centres are part of the Coalition’s plan to drive innovation and productivity to grow the economy and create 1.25 million new jobs over the next five years.

Applications close on Friday, 12 July. For more information on the AustCyber Projects Fund, visit www.austcyber.com/grow/projects-fund.

Image credit: ©stock.adobe.com/au/James Thew

Please follow us and share on Twitter and Facebook. You can also subscribe for FREE to our weekly newsletter and quarterly magazine.