Israel has been a dominant global force in the development of IT security technologies for more than 30 years. Israel was acknowledged as a pioneer in both the global development of disruptive Cybersecurity solutions, as well as the design of revolutionary cyber policy.
Israel has become a leading global powerhouse in cybersecurity, Israel is second only to the USA as the world’s leading exporter of cyber technology. Israeli cyber security exports have reached approximately $10 billion USD or 10% of global cyber security exports, while Israeli startups in the field garner over 40% of global investments.
In 2021, Israeli cybersecurity companies raised a stunning $8.84 billion USD in over 100 deals, including 11 of them that became unicorns-private companies valued at over $1 billion. This accounts for 40% of the total funds raised by cybersecurity firms worldwide, and is three times the amount raised in the same period a year earlier.
Many experts agree that the State of Israel has created a unique cyber ecosystem that incorporates the government, academia, and industry. Israel and its INCD, in partnership with various universities, have established academic research centers and have developed a model for advancing and investing in the Israeli cyber industry. This model has proven itself in growing one of the strongest, most advanced, and most dynamic cybersecurity ecosystems.
Israel is also home to the R&D centers of all the prominent international companies such as IBM, Oracle, Cisco, Microsoft, Safenet, Citibank, Deutsche Telekom, EMC2, GE, Intel, McAffee and Amazon.com with many centers dedicated to cyber security technology.
Clearly Israel has some of the most effective and creative solutions for all things Cybersecurity including; mobile security, security operations and orchestration, GRC and vulnerability management, OT and industrial Control Systems, end-point security, data protection, encryption and privacy, anti-fraud, authentication and IAM, network security, cloud and infrastructure security, and application and website security,
The Cyber Security Act – 2020, and the Directive for the Protection of Critical Information Infrastructure – 2021, form the basis of the Government of Ghana’s National Cybersecurity Policy which delineates five strategic imperatives; namely build a resilient digital ecosystem, secure digital infrastructure, develop national capacity, deter cybercrime and to strengthen cooperation. These national policies along with the increasing digitalization drive of many sectors in Ghana, creates many needs and opportunities for partnerships in the field of cybersecurity.
The robust and evolving mobile payments ecosystem, the rabid digitalization of banking and financial services, expansion of e-commerce, digitalization of government services and infrastructure, and other digitalization advances being made in Ghana and West Africa, are welcome developments that offer potential for economic growth, improved access, and development. Yet all these advances bring more exposure to ever increasing cyber threats and vulnerabilities and require increasing security measures.
Israel, being a leader in the provision of cyber security solutions, yet being a culture that fosters creativity, flexibility, and can-do approach would be an ideal place to start when looking for Cyber products, services and opportunities; Ghanaian companies would be sure to find many exciting, relevant, and cost effective solutions in this sector.
For further information on this sector and the upcoming Cybertech Global TLV 2022 conference please contact our lead on the Cyber Sector, Ms. Maame Yaa Amoah.