ACSRIs Capital Injection

The Australian Cyber Security Research Institute has just received a major funding boost from tech giant CISCO with a $3 million capital injection.

Total funding for the ASCRI is now set to reach approximately $150 million over seven years. ACSRI chairman David Irvine expects this figure to increase, with Australian companies encouraged to join in and tackle the new challenges that cyber security brings.

Irvine says, “we expect more industry partners to join and the really exciting thing is we’re going to get the universities to work together too… it has to be effective, serious research projects that lead to concrete results.”

Mr Irvine says that the institute’s research will seek to understand how to better protect Australian businesses against cyber attacks, and to evaluate cyber-as-a-service, systems architecture and software solutions.

John Stewart, Cisco chief of security and trust office, said the choice to back the ACSRI was an easy one and that it was imperative that government, corporate enterprises and universities collaborate to tackle the threat of cyber breaches head on.

Stewart says, “at current course and speed, I don’t know any countries or education systems that feel confident they have enough people in this space…this is a time when we have to…accelerate the workforce we need and get them into play as fast as we can.”

Similarly David Irvine says, “when I first went to ASIO in 2009, one of the first things that struck me was how vulnerable we are in Australia to both state-based cyber attacks and criminal cyber attacks. Frankly, nothing has changed in terms of the potential of those threats…what we were finding was our national capabilities in terms of skills and so on is still quite low.”

Because of this, ACSRI will focus its attention on building the capability of Australia’s cyber research skills and training providers.

And whilst Australian companies have started to be forward-thinking, and co-operating to establish robust cyber-security, Mr Irvine is still concerned that small-medium sized organisations are ill-equipped to protect themselves against cyber breaches.

Irvine says “I’m a lot more confident our top 100 companies are on top of the issues and spending money on it, but below the top 100 it drops off considerably…under the new laws, even doctors surgeries that don’t have a turnover of more than $3 million will have to start looking at these issues and I’m worried about getting the message to SMEs.”

Companies cannot neglect cyber-security measures any longer, especially when those who are tackling this problem head-on are prospering as a result.

Call us for more information to gauge your company’s cyber-security using our survey, and see if you’re up to the standard of other prepared Australian businesses.

Is your business secure?

Contact our team today to organise a obligation free meeting to review your security and if you are at risk.

Discuss your cyber security needs with an expert today!