Govt and industry pour millions into new cyber security research centre

Govt and industry pour millions into new cyber security research centre

The combined value of investment is worth close to $140 million

The Federal Government, local private sector players and research organisations are pooling more than $139 million worth of investment into a new cyber security cooperative research centre (CRC).

The Government revealed on 22 September that it will invest $50 million over the next seven years to establish the Cyber Security CRC, the latest such cooperative research centre in the Government’s initiative to better collaborate with industry.

The Government’s funding is set to complement more than $89.8 million in investment – both cash and in-kind – from a total of 25 industry, research and government partners.

“This investment will contribute to Australia’s reputation as a secure and trusted place to do business, enabling industry to attract and increase investment, trade and commerce and delivering broad economic benefit,” the Federal Government’s Assistant Minister for Industry, Innovation and Science, Craig Laundy, said.

According to a joint statement by Laundy and Australia’s Minister Assisting the Prime Minister for Cyber Security, Dan Tehan, cyber security is a strategic priority for Australia’s national security.

“This will give the Australian community confidence they are safe and secure as they conduct their business online,” Laundy said. “The Cyber Security CRC will deliver solutions to increase the security of critical infrastructure and that benefit businesses and their customers.”

These include frameworks, products and approaches that will service existing and future ICT enterprises across a broad range of platforms and operating systems,” he said.

The Australian Cyber Security Growth Network (AustCyber), part of the Government’s Industry Growth Centres Initiative, will work closely with the Cyber Security CRC to facilitate collaborative research that meets the needs of Australian industry.

News of the new Cyber Security CRC comes almost 18 months after the Federal Government unveiled its Cyber Security Strategy, which came with 33 cyber security initiatives worth around $231.1 million.

The Government’s Cooperative Research Centres (CRC) Program, from which the new Cyber Security CRC emerges, aims to support industry-led collaborations between industry, researchers and the community.

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