NSW launches cybersecurity innovation node

NSW will receive a cybersecurity innovation node to help accelerate the growth of this industry.

The node will be a partnership between the NSW Government and AustCyber, the national Australian Cyber Security Growth Network.

This follows the launch of the NSW Cyber Security Industry Development Strategy and a cyber strategy focused on protecting government data services.

“The NSW cybersecurity innovation node announced today will focus on building our industry and helping our cyber companies grow and create jobs,” said Minister for Trade and Industry Niall Blair.

“Cybersecurity is a fast-developing sector that knows no market boundaries. We don’t just want NSW to be at the front of Australian efforts, we want our companies kicking goals on a global scale.

“NSW is in a strong position with Australia’s largest ICT and start-up sectors. The node will create the right conditions for the industry to prosper, and ensure anyone who wants to work in the cyber industry has all the support they need in NSW.”

There are about 19,000 people employed in Australia’s cybersecurity sector. Australian businesses spend $4.3 billion a year on cyber security (with most activity in NSW), and industry revenue is forecast to reach $6 billion by 2026.

The NSW cybersecurity innovation node will be coordinated by the NSW Cyber Security Network, which is supported by the NSW Government and universities, and aligned with AustCyber’s national agenda of sector growth.

“The node will develop and run programs bringing together industry, government and research organisations to take our cybersecurity industry forward,” Network Director Todd Williams said.

“We will focus on growing our businesses and exports, building R&D links, encouraging innovative technologies and developing industry skills.

“The node will also connect cyber companies with NSW initiatives like the Boosting Business Innovation Program, which links businesses to universities for R&D projects, and Business Connect, which provides advisory support for businesses.

“We will work with NSW agencies including the Department of Industry; Department of Finance, Services and Innovation; and the Office of Chief Scientist and Engineer, who will also contribute to the node and industry growth efforts.”

AustCyber CEO Michelle Price said global spending on cybersecurity products and services is expected to increase by 88% over the next eight years, from around US$131 billion today to almost US$250 billion in 2026.

“An AustCyber Node in NSW will help local cybersecurity companies of all sizes — not just start-ups — connect into the broader national cybersecurity ecosystem. AustCyber will help them find customers and investment, improve commercialisation, connect to export markets and grow a more coordinated founder community.”

Dr Maria Milosavljevic, the NSW Government’s Chief Information Security Officer, said, “The NSW Government’s cybersecurity capacity will be enhanced over the long term by the node’s work on cybersecurity industry development, including having a point of contact for collaboration between government, research and industry organisations.

“This work will also benefit our own efforts to uplift cybersecurity capability across NSW Government as part of our broader goal to create a cyber-safe NSW.”

Image credit: ©stock.adobe.com/au/REDPIXEL

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