Victoria

Startups unveiled for first cyber security accelerator

The Victorian Government has unveiled the startups that have been selected to participate in Australia’s first cyber security accelerator program – CyRise.

Victorian Minister for Innovation and the Digital Economy Philip Dalidakis announced the group which includes Brooklyn Dynamics, CYDARM, NetCrypt and Cybercitadel.

CyRise is jointly backed by Dimension Data, Deakin University and LaunchVic – Victoria’s $60 million startup development agency.

The group of startups will participate in an intensive six-month program and be challenged to condense two years’ worth of growth into that six months. Each startup will receive $50,000 to support initial validation, product development, growth and scaling.

Participants will work alongside Deakin University researchers with tech expertise and travel to Israel and the US – two countries that are recognised around the world for their cyber security strengths.

CyRise received $450,000 in August 2016 to deliver a cyber security accelerator program from LaunchVic’s first funding round.

Victoria is rapidly emerging as a leading Asia Pacific hub for the $120 billion global cyber security industry.

Cybercrime costs Australia’s economy upward of $17 billion a year. More expertise will enable Victorians to be better prepared to protect their safety and privacy online, and boost the local economy.

Source: Vic Government