NSW rises to cyber security challenge

27 April 2016

The Department of Industry and Data 61 recently hosted a Cyber Security Roundtable talk

New South Wales is playing a key role in furthering the Australian Government’s new $230 million Cyber Security Strategy.

Sydney's Australian Technology Park (ATP), where Prime Minister Malcolm Turnbull launched last week’s Cyber Security Strategy will be central to national cyber security efforts.

The NSW node of the Australian Government’s Cyber Security Growth Centre will be located at ATP. What’s more, Adrian Turner, CEO of CSIRO’s Data 61 research arm has been named as co-chair of this Growth Centre.

Sydney’s cyber strength

With over 45% of Australian start-ups based here, a rapidly expanding fintech community and a strong defence sector, NSW has the strong industry, academia and business networks to help power the national cyber security effort.

NSW is also Australia's premier market for digital creative and information communication technology (ICT) industries with the largest ICT sector and at more than 45%, the highest number of technology start-ups in Australia based in NSW.

This strong position within our nation’s cyber security sector gives our State enormous potential to capitalise on a global US$71 billion industry. It is a key catalyst for industry development and job creation.

Only last week the Premier returned from Israel with an Agreement on Bilateral Co-operation in R&D and Technical Innovation which commits NSW and Israel to invest $2 million into co-operative startup and innovation projects – including those focused on cyber security.

Risks and opportunities

The recent World Economic Forum noted 90% of the data we use today has been created in the past two years.

Cyber security threats to Australia and Australian businesses are increasing and the NSW Government is eager to play a pivotal leadership role in bringing together industry, researchers and governments to support this strategy.

The NSW ICT Strategy and Digital Information Security Policy provide a strong policy framework to manage government data and information, while Government Data Centres provide secure infrastructure that will support a new approach to procuring and using ICT services.

Cyber security Roundtable

In a recent Roundtable hosted by the NSW Department of Industry and Data 61, Dr Doug Maughan from the US Department of Homeland Security highlighted the importance of bringing together government, industry and academia in partnerships to tackle cyber security.

“The bad guys work well together, I think the good guys should work well together too,” Dr Maughan said.

‘We are not going back to paper and pencils - this digital thing is going to stay around forever,” he said.

“As we start putting systems online that were never supposed to be online before, all of a sudden you bring all these sorts of issues of privacy and protection.”

Industry leading the charge

The NSW Department of Industry is committed to growing NSW’s cyber security capacity for the benefit of all Australian businesses and industries, and is currently working with the Department of Finance, Services & Innovation to develop an Innovation Strategy for NSW to further cement NSW as a leading destination to live, work and build the industries of the future.

Support for National Fintech Cyber Security Summit

The NSW Government is sponsoring the inaugural National Fintech Cyber Security Summit in Sydney on 3 May.

The summit will bring together Leading financial institutions, innovators, government, and research organisations to accelerate the relationships and collaborations needed to build on Australia’s innovative capability in fintech cyber security.