Startups Unveiled For First Cyber Security Accelerator

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

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.

Quotes attributable to Minister for Innovation and the Digital Economy Philip Dalidakis

“CyRise is supporting the development of some the country’s most talented digital and cyber security startups right here in Victoria.”

”Cyber security is one of the world’s fastest growing technology sectors. It will be a huge part of our future economy and support countless jobs.”

Quotes attributable to CyRise CEO Scott Handsaker

“I am excited about the potential of our first group of organisations that all have the potential to become high value, high growth companies.”

“CyRise aims to provide mentoring from some of the country’s leading innovators and technology experts and expose them to the competitive cyber security sector so they are inspired to think big and achieve great things.”