Home Security Aussie cybersecurity mission to RSA

Aussie cybersecurity mission to RSA

Australia’s cyber security capabilities and researchers will be showcased to global players attending the RSA Conference in San Francisco from 13 to 17 February 2017.

The mission will enable Australian companies to receive  briefings from key American cybersecurity experts, industry updates, and connections to leading companies with potential business opportunities.

Alastair MacGibbon, special adviser to the Prime Minister on Cyber Security, and Craig Davies, the recently appointed chief executive of the Australian Cyber Security Growth Network, will jointly lead the delegation.

Austrade WatkinsonNicola Watkinson, Austrade’s Senior Trade and Investment Commissioner for North America, said the US was recognised as the global leader in cybersecurity, with four of the top five cybersecurity vendors headquartered in the US.

“The industry is based around technology centres which are mapped out in our recently released Cyber Security US Clusters Report. The US federal government is the primary driver of the US cybersecurity industry, followed by the banking and finance, healthcare, critical infrastructure and ICT industries.”

The US federal government’s initiative to improve cyber security for critical infrastructure positions it as the biggest spender and supporter of cybersecurity in the US, with US$19 billion (A$25.1 billion) budgeted for 2017.

Outside the government, the banking and finance sector spends the most on cybersecurity, which is projected to exceed US$68 billion between 2016 and 2020. In 2015, JPMorgan spent US$500 million on cybersecurity, while Bank of America has announced cybersecurity is its only division without a spending limit.

"Recently I had the opportunity to visit the Citibank Cyber Fusion Centre," said Watkinson. "The way in which leading private-sector players are grappling with cyber threats provides some great examples of industry best practice and a chance for Australian solution providers to see where the trends are heading and how they can capture a piece of this growing business.’

San Francisco’s Bay Area is a cybersecurity hotspot in the US and receives the most venture capital investment in the country. A total of US$12 billion (A$15.8 billion) was invested in the first two quarters of 2016.

Watkinson said leading global cyber security firms Symantec, Intel, Palo Alto Networks, Cisco and FireEye all had their headquarters in the Bay Area and had established a presence in Australia.

"This provides Australia’s cybersecurity businesses with an added advantage. We are also assisted because Australia is a popular testbed for technology, as well as the home of some of the best cybersecurity research institutions, making us an attractive ecosystem," noted Watkinson.

"Beyond The Bay, other established clusters are found in DMV (Washington DC, Maryland, and Virginia), Massachusetts (Boston), the New York Tri-State Area and the San Antonio-Austin Corridor.

"US companies across finance, defence, critical infrastructure, and healthcare are rapidly gearing up to address cybersecurity threats. Australian companies looking to grow their business should consider working with Austrade to tap into market trends, new government initiatives and the extensive network of contacts available to capture this market opportunity," said Watkinson.

RSA Conference 2017 marks the 26th anniversary of the world’s leading information security conference, which attracted over 40,000 attendees last year.

The Australian mission also builds on the ongoing initiatives being implemented by Australia’s Landing Pads programme managed by Austrade, which commenced when San Francisco was established as the first of five global locations in February this year.

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Ray Shaw

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Ray Shaw ray@im.com.au  has a passion for IT ever since building his first computer in 1980. He is a qualified journalist, hosted a consumer IT based radio program on ABC radio for 10 years, has developed world leading software for the events industry and is smart enough to no longer own a retail computer store!