NSW leads on cyber security, but export capability needs support

New South Wales Innovation Node

SYDNEY, 18 May 2021 – Australia’s most populous state is leading the country in developing innovative and commercially viable tools to protect Australia’s cyber security at a time of growing threats, but gaps in export capability must be addressed to lock in further growth, data from AustCyber shows.

The New South Wales Cyber Industry Snapshot draws on data collected for Australia’s Cyber Security Sector Competitiveness Plan 2020 to examine state-specific capabilities. It found that the capability and jobs footprint from cyber is significant in NSW. 

NSW hosts the largest and most diverse range of cyber security providers in Australia. Around 80 cyber security providers are headquartered in NSW, with 75 per cent of these providing services to the financial services sector, and the state has an estimated 10,150 cyber security workers, more than any other state. 

However, only 38 per cent of NSW's cyber security providers are exporting – below the national average of 43 per cent - and more than one-third of those surveyed cited gaining access to export markets as a key barrier to growth. 

Michelle Price, CEO of AustCyber, believes the state should be proud of its leadership position and energised to pursue opportunities to make cyber security a key part of Australia’s growing export capability in technology and services. 

“Our data shows that New South Wales has a mature, globally connected cyber industry with the right fundamentals to grow over the coming years,” Ms Price said. “Our focus should be on exporting this critical technology and leading capabilities to the rest of the world.” 

NSW Minister for Jobs, Investment, Tourism and Western Sydney, the Hon. Stuart Ayres said, “We know how important cyber security is, not just to the businesses and organisations facing increased cyber threats, but to the future economy of our state and our country. That’s why we have been supporting the development of cyber security in New South Wales and will be releasing a Cyber Security Strategy shortly. 

“We are confident that with the right support we can continue to thrive as a national and regional hub for cyber security development, commercialisation and export.”

The findings will be launched at a series of events throughout New South Wales on Tuesday, 18 May. The Hon. Stuart Ayres will launch the report in Sydney, with simultaneous events held in Western Sydney, Bathurst, Orange, Wollongong, Newcastle, Ballina, Byron Bay and Cooma.

About the NSW Cyber Security Innovation Node 

The NSW Node is part of a National Network of Cyber Security Innovation Nodes, designed to foster and accelerate cyber capability and innovation across the country. It is funded by AustCyber (the Australian Cyber Security Growth Network) and the NSW Government. The Node has two primary streams of work – NSW Cyber Business Innovation and Workforce Development. To learn more, visit: https://www.austcyber.com/innovation-node/new-south-wales