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1 November 2017

CyRise installs first cohort

The Deakin University-backed accelerator has selected the first startups to join its program.

Author: Callum Cyrus, reporter

The government of Victoria named the first four Australia-based startups to join its CyRise cybersecurity accelerator yesterday, kickstarting an initiative backed by Deakin University.

CyRise is managed by information technology services firm Dimension Data together with state-owned development agency LaunchVic and Deakin University. The accelerator aims to cement what Victoria regards as its credentials as an Asia-Pacific hub for cybersecurity services.

The four startups include predictive analytics developer Brooklyn Dynamics and encryption technology maker NetCrypt, as well as Cydarm and Cybercitadel, both of which appear to be in stealth.

Each participant will receive a A$50,000 ($38,400) investment and spend six months in the program, which CyRise hopes will be the equivalent of two years’ worth of growth.

The startups will consult with technology experts from Deakin University, and meet successful cybersecurity developers in Israel and the US.

CyRise received $450,000 in August 2016 as one of 18 projects backed by with funding from LaunchVic, an A$60m vehicle aimed at growing Victoria’s startup scene over four years.

Philip Dalidakis, Victoria’s Minister for Innovation and the Digital Economy, said: “CyRise is supporting the development of some of the country’s most talented digital and cybersecurity startups right here in Victoria.

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

– A version of this article first appeared on our sister site, Global Government Venturing.

Copyright Mawsonia Limited 2010. Please don´t cut articles from or the PDF and redistribute by email or post to the web without written permission.

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