Strong cyber security is essential to allow individuals and businesses to take advantage of the economic possibilities of the digital world. To create opportunities for businesses in the rapidly growing cyber security sector, the Turnbull Government is providing $30 million through to 2019-20 to establish a new industry-led Cyber Security Growth Centre to grow and strengthen Australia’s cyber security industry.

The global cyber security market is currently worth more than US$71 billion and is growing at around eight per cent a year. A Cyber Security Growth Centre will ensure that Australia is a global industry leader, able to export products and services in the global marketplace while helping Australian businesses and governments to address the growing threat of cyber crime.

What is it?

The new Cyber Security Growth Centre will:

  • bring together industry, researchers and governments to create a nation cyber security innovation network
  • develop a national strategy for Australia’s cyber security industry to become a global leader and attract investment from multinationals
  • coordinate cyber security research and innovation to reduce overlap and maximise impact.

It is the first initiative to be delivered under the Government’s Cyber Security Strategy, which was released on 21 April 2016 and sets out the Government’s philosophy and program for advancing and protecting our interests online. Read more about the Cyber Security Strategy.

When is it happening?

The Cyber Security Growth Centre is expected to be operational by mid-2016. It will be led by two of Australia’s most experienced IT executives, Doug Elix AO and Adrian Turner, as joint chairs. They will lead the Growth Centre in developing a national strategy for Australia to become a global leader in this $USD 71 billion cyber security industry. Read more about the Cyber Security Growth Centre Co-chairs.

What to do

 

World leading cyber security from Australia

In November 2015, Australian company QuintessenceLabs was named one of the top emerging security companies by the Global Security Innovation Network for its quantum cyber security technology. QuintessenceLabs has already attracted interest in its products from companies such as Westpac, IBM and Northrop Grumman.

A key to its success is working closely with Australian National University researchers to draw on cutting edge quantum networks research when developing solutions to significant cyber security challenges. Cooperation between businesses and researchers is critical to building a highly successful cyber security industry in Australia.

QuintessenceLabs’ technologies leverage the quantum properties of lasers to strongly safeguard sensitive data — personal, commercial or classified — as it is collected, communicated and stored.

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Information courtesy http://www.innovation.gov.au/