AustCyber boosts cyber security innovation with almost $4 Mn for industry-led projects

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Innovation and commercialisation in Australia’s cyber security industry received a boost today with Minister for Industry, Science and Technology, the Hon Karen Andrews MP, announcing almost $4 million in funding for three industry-led projects.

The recipients were selected by AustCyber – the Australian Cyber Security Growth Network, part of the Australian Government’s Industry Growth Centres Initiative – in the second allocation of matched contributions under its Projects Fund.

Under the Fund, industry-led projects must address one or more of the ‘knowledge priorities’ identified in Australia's Cyber Security Sector Competitiveness Plan.

AustCyber’s Chief Executive Officer, Ms Michelle Price, said the projects would add value to Australia’s cyber security sector but also provide potentially world leading innovative solutions for all sectors of our economy more broadly.

“The growing demand for cyber security products and services is a significant economic opportunity for Australia.

“A thriving and dynamic cyber security sector in Australia will create new jobs and revenue, but is equally important to enable the domestic and international success of other Australian industries. Supporting cyber resiliency across the Australian economy improves our nation’s overall global competitiveness as well as its security.

“AustCyber looks forward to working with recipients and their partners as they deliver on their projects over the next twelve months and will continue to identify and support cyber security innovation through to commercialisation.”

Lead applicants and projects are:

  • $1,285,450 to Melbourne company Forticode to create a highly scalable cryptographic-based technology that will allow for the independent authentication of personal data stored and managed on mobile devices.
  • $995,500 to Sydney-based Cog Systems for a project that improves cyber security methods and techniques for Internet of Things device makers. The project includes convenient software to incorporate secure-by-design techniques into hardware platforms.
  • $1,594,400 to Sydney-based Laava ID for a Smart Fingerprint project that enables people to identify and verify the quality of the products they buy through their smartphone, as well as a wide range of other uses.

More information about each of the three projects, as well as projects that were previously awarded funds by AustCyber, can be found at www.austcyber.com.