Cybersecurity incidents dominated business headlines for much of 2018, as a diverse range of legacy and digital brands including Marriott, British Airways, Facebook, Google, and MyHeritage grappled with the fallout of high-profile data breaches. Such incidents cost global businesses an average of $3.9 million, according to IBM’s flagship Cost of a Data Breach study.
As our world grows ever more digitized and connected – including our cars, critical infrastructure, enterprise network, government services, banking, and much more – the menace of cybercrime will continue to plague businesses across a wide spectrum of industries. To confront this threat, organizations know they must work assiduously to always stay a step ahead of bad actors.
Thanks to its impressive head start in the cybersecurity industry, Israel has become a global powerhouse in developing innovative solutions to secure our digital world, and the Startup Nation stands poised to lead the globe in key growth areas, including automotive, critical infrastructure, and enterprise security.
While Israel accounts for only 0.1 percent of the global population, it’s responsible for 5 percent of the global cybersecurity market share, ranking behind only the United States, and accounts for 15 percent of global cybersecurity investments since 2014, according to Startup Nation Central. In 2017, Israeli cybersecurity companies raised $815 million across 81 funding rounds.
Home to more than 300 active cybersecurity companies – more than 150 of which have been launched since 2012 – Israel owes its success in the industry to a dynamic mix of military-trained cybersecurity specialists, top-tier academic institutions, an entrepreneurial culture, and cyber-focused R&D centers operated by top multinational companies including IBM, Oracle, Cisco, Microsoft, Intel, Citibank, McAfee, and Amazon.
Here’s a look at some of the most exciting cybersecurity innovators to emerge from this ecosystem:
Impressive as Israel’s cybersecurity track record might be, the country isn’t resting on its laurels. In August 2018, the Israel Innovation Authority, the Ministry of Economy and Industry, and the National Cyber Directorate launched a three-year, NIS 90 million program to jumpstart cyber innovation through R&D grants and generous financing for pilot programs. The initiative underscores the Israeli government’s commitment to accelerating game-changing solutions through collaborative partnerships with entrepreneurs, researchers, and top cyber experts.
In a world where cyber threats are rapidly evolving, Israel’s competitive edge lies in its ability to harness its home-grown ingenuity, renowned tech ecosystem, and unyielding determination to overcome even the most vexing challenges. Cybercriminals beware.
For more information, please visit http://www.itrade.gov.il/ or contact your local Israel Economic Attaché.