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Cybersecurity threats to Irish businesses continue to grow, conference is told
Male Hacker Working On The Laptop And Computer
A Cork-based cyber-security firm says that it recorded a 150pc increase in “cyber espionage incidents” from China in 2024.
Smarttech247 CEO Raluca Saceanu said that the level of growth in data breaches worldwide had reached a five-year average of 30pc.
Speaking to delegates at a Zero Day Con security conference at the Dublin Convention Centre, Ms Saceanu said hackers and cyber criminals re-invest up to 20pc of their revenue in acquiring the latest tech to develop ever more complex ways to illegally access data.
“The budget for innovation at an average enterprise would likely run to between 5pc and 10pc, so organised threat actors are way ahead on this front,” she said.
“The vital thing to understand is that no matter how much businesses invest in tools, ensuring resilience and cyber- security basics are still crucial elements of defence.”
Separately, Munster Technological University has invited experienced cyber professionals to apply for the final places in its Cyber Innovate programme.
It’s the second year of a €7m project at the college, offering a €38,000 scholarship to participants and a postgraduate qualification in cybersecurity innovation. The programme follows Georgia Tech’s VentureLab model, which has launched 1,357 start-ups that have raised almost €3bn in funding.
According to the college, participants retain full ownership of their IP and are encouraged to develop their ideas into businesses.
“With success stories like Cork-based Getvisibility, which recently sold for millions, we believe MTU Cyber Innovate is a key initiative to nurture the next wave of innovative cybersecurity start-ups, helping them grow and flourish,” said Cyber Innovate director Ronan Coleman.
Cyber Innovate is co-funded by the Government and EU through the ERDF Southern, Eastern & Midland Regional Programme 2021-27. The programme also aims to address historical diversity imbalances in the cyber-security sector.
In its first year, five out of the 12 successful applicants were women, and the programme organisers are keen to see that trend continue.
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