Penten’s Export Commercialisation Playbook for Australian Cyber Startups is a new resource for Australia’s rapidly growing cyber security industry and is designed as a practical and simple guide to help early stage companies navigate the complexity of exporting their product or service to the United Kingdom (UK).
The playbook was launched yesterday at an online event – The State of Cyber Security: Exploring the UK and Australian Markets. This webinar explored the cyber security ecosystems in the UK and Australia, including areas for collaboration on innovative capability.
Assisting Australian cyber security companies to scale and export globally lies at the heart of AustCyber’s mission to support the development of a vibrant and globally competitive cyber security sector.
Michelle Price, AustCyber’s CEO, believes this playbook will help Australian cyber security companies seek new opportunities offshore, while also expanding their reach domestically.
“Promoting Australian cutting-edge cyber security technology solutions to priority international markets through trade delegations and showcase events is one mechanism through which we support companies with their market entry strategy.
“We are pleased to support Penten’s export playbook for the UK market as another practical way to sharpen our industry’s ability to successfully go global.”
Co-founder and Director of Penten, Ben Whitham, said taking the first step can be the hardest.
“We had a prototype cyber capability that was functionally ready, but not ready for buyers, especially not ready for the export market. Taking the steps to export was difficult and it took a lot of time, effort and planning.”
Penten’s CEO, Matthew Wilson, said their journey provided a valuable and very personal case study.
“The experience and learnings we took from introducing ‘TrapDocs’ to the UK planted the seed for the playbook. We quickly realised both the opportunities and obstacles that come with introducing a product into a new market.
“Having the support of AustCyber, including through co-funding of the playbook as part of their Projects Funds initiative, had a multiplier effect on the utility of the playbook.”
The playbook tackles issues from export licensing to intellectual property, marketing, choosing distributors and understanding legalities. It is structured to guide organisations through a sequence of four steps needed to successfully take cyber security products or services to the UK market.