CyberSecurity: A $370 Billion Opportunity to Boost Scotland’s Economy
An Industry Accelerator to further grow Scotland's success in the massive Cloud & CyberSecurity industry.
The global cybersecurity market is forecast to grow to $376.32 billion by 2029.
It’s an ever-evolving sector, with new challenges, innovations and policies continually hitting the market. For example the Whitehouse has recently launched their National Cybersecurity Strategy.
As such it presents a massive opportunity for Scotland, this scale of market plus this continuously refreshing business need means there is rich seam of product segments requiring new innovations.
Boosting Scotland’s Economy
Graham Turner writes for DIGIT that Cybersecurity is Key to Boosting Scotland’s Economy, and the nation has a very strong position in the sector.
Industry organizations include Cyber Scotland, a collaboration of key strategic stakeholders to help achieve the outcomes of The Strategic Framework for a Cyber Resilient Scotland, the Cyber Fraud Centre exists to ensure Scottish organisations are as resilient as they can be against cyber and fraud crime, and Cyber Scotland Week is an annual event showcasing expertise across the country.
For those seeking to enter the industry a number of academic courses are on offer, including from Robert Gordon University, Glasgow Caledonian and North East Scotland College, among others.
Startups in the sector have enjoyed considerable success. In particular Edinburgh Napier has proven to be a goldine, producing a portfolio of spin outs, including ZoneFox acquired by Fortinet and Symphonic acquired by Ping, as well as Memcrypt, Cyacomb and True Deploy, which is scaling the core work conducted from their Blockpass Identity Lab into real-life applications which protect software supply chains.
These successes are due to the world class industry experts in Scotland, including Professor Bill Buchanan and Dr Jamie Graves.
Other notable startups include Ionburst, a software solution that provides data defence-in-depth for any digital assets anywhere. Customers of all sizes and industries can use Ionburst Cloud to securely store and protect any amount of data for a range of use cases, such as cloud and secrets storage, web and mobile applications, backup and restore, archive, and enterprise applications.
The Accelerator will provide a vehicle for connecting Scottish startups to global partners and new markets, and building an IP base that helps cultivate and fast-track new ventures.