In the rapidly-expanding cybersecurity field, CyberHatch connects Canadian startups and growing companies to the resources and partners needed to succeed.
Cybercrimes are becoming more frequent and sophisticated by the day — a report from RiskIQ estimated that in 2021, the global economy will lose a staggering $11.4 million to cybercrime every minute. The pandemic has exacerbated the problem: cybercriminals are staging coordinated attacks on businesses, often via phishing scams on remote workers.
The cybersecurity industry is growing alongside these risks, and is currently a thriving industry bounding with opportunity.
With a wealth of technology and talent in the Canadian cybersecurity sector, many security technology startups and companies looking to scale up could use support.
Access to funding, exposure, and new markets will be critical to helping emerging companies go to market and existing companies to scale and grow.
Supporting Canada’s powerful cybersecurity talent base
“In Canada and around the world, there are ever-growing innovations in technologies around critical infrastructure — that is, telecommunications, health care, financial services, and so on,” says Tyson Johnson, CEO of CyberNB, a New Brunswick-based agency aimed at developing the cybersecurity industry in Canada. “And the more the digital economy grows, the bigger your threat landscape becomes.”
Thanks to the ever-growing strength of Canadian colleges and universities with dedicated cybersecurity programs, the talent is already here. Major players like IBM and Siemens have already bought into the Canadian cybersecurity industry by expanding their operations to Fredericton. Fredericton’s cybersecurity ecosystem also boasts the presence of rapidly growing firms like Bulletproof, Difenda, and Beauceron Security. CyberNB’s Critical Infrastructure Protection Network (CIPnet), a national network of cybersecurity stakeholders supporting growth across the industry, adds to the strengths of the region.
CyberHatch gives tech talent the tools it needs to scale
Canadian startups and companies looking to scale up need reliable sources of funding alongside access to a dedicated innovation ecosystem that helps bring their products to market. A new initiative from CyberNB aims to provide exactly that. The pan-Canadian not-for-profit is launching CyberHatch — an incubator and accelerator focused on early-stage Canadian cybersecurity startups centered around technology for critical infrastructure.
Companies chosen to participate will have access to a lattice of support including mentorship, capital, and contacts in government, industry, and academia. CyberHatch co-locates with the Cyber Centre — a new, state-of-the-art facility focusing on supporting New Brunswick’s cybersecurity industry.
“With over $110 million being allocated to over 200 companies from across our global ecosystem every year, we’re excited to partner with CyberHatch to open up Eastern Canada’s potential in digital resiliency and critical infrastructure protection initiatives,” says Ozan Isinak, President of Keiretsu Forum Canada, one of CyberHatch’s funding partners.
“Companies in the program will scale their technology securely through our transparency centre initiative, which tests and validates the technology,” says Johnson. “When they go to market, they can reduce their liability and become a trusted partner in the supply chain. Essentially, the program is designed to create new Canadian success stories.”