Victoria must develop a strong technology skilled workforce and innovative local cyber security businesses and enhance cyber resilience across all industries. Creating a vibrant cyber economy supports the growth of cyber security skills, businesses and jobs. The Victorian Government seeks to leverage the state’s excellence in technology and innovation culture to position Victoria as a global leader in the growing cyber market.
Mission 3 aims to develop strategic partnerships to grow a dynamic and competitive cyber sector underpinning digital transformation, growth and innovation across every sector of the Victorian economy. The mission also presents opportunities for local job creation, foreign direct investment and to improve cyber skills and expertise. These actions will position Victoria as a global leader in cyber risk management and support the state’s economic prosperity.
Mission 3 priorities
Growth and maturity of Victoria’s cyber ecosystem
As Victoria looks to prosper in a digital economy, cyber capability and security will be instrumental in the state’s economic recovery from the effects of the coronavirus (COVID-19) pandemic.
The risk of malicious cyber activity is now the second-highest identified state risk. As coronavirus (COVID-19) accelerates the uptake of digital business models by industry and drives a rapid shift to remote working, education and consumption patterns, it has exacerbated the threat of malicious cyber actors and made the threats more complex.
In this context, the growth of innovative, competitive local cyber security businesses and advanced capability is essential to securing Victoria’s economy, reducing the community impact and harm associated with cybercrime.
Critically, these local cyber businesses will also enable Victoria to benefit from significant market and job opportunities.
The global and Australian cyber security market is growing rapidly, and Victoria is well positioned to capture a significant share of these markets. Between 2017 and 2020 global spend on cyber security products and services grew by 30 percent. Over the last year, global spend on cyber was US$147 billion and is expected to reach US$207 billion by 2024. Australians spent $5.6 billion on cyber security over the last year and this is expected to grow to $7.6 billion by 2024. Capturing opportunities in cyber could create thousands of skilled, high-value job opportunities over the next few years, adding to the almost 27,000 workers employed in cyber security roles in Australia today.
Internationally recognised training and development programs with established pathways into cyber employment
The growth of competitive cyber firms and development of cyber awareness and resilience across the economy relies heavily on access to high-level skills and expertise to meet evolving demands.
The coronavirus (COVID-19) pandemic escalated Victoria’s shift to online working, studying and entertainment. It has highlighted the critical importance of access to a workforce skilled in technology and creating demand for digital and cyber security skills across our economy.
Further strengthening those skills will benefit industry by expanding the pool of local digital talent and create opportunities for Victorians to move into new careers.
Increased investment opportunities and industry maturity
Stronger industry cyber capabilities are enablers of digital economic growth. They facilitate access to security-sensitive global supply chains and underpin Victoria’s investment value proposition, opportunities for jobs growth and the economic recovery across priority industry sectors.
There are significant opportunities for development of the cyber ecosystem through key industry sectors including:
- advanced manufacturing
- medical technologies and pharmaceuticals
- professional services
- agriculture (food and fibre)
- defence technologies.
Attracting the presence of international cyber and technology companies to invest and operate in Victoria will enhance the capabilities of our local cyber start-ups and small business sector and provide opportunities to support and partner with Victoria’s leading fast-growing cyber product and services ecosystem.
Target state
The Victorian Government will foster the building of strategic partnerships to accelerate the state’s further transition towards online delivery, removing potential barriers to adopting digital technologies by government, and facilitating partnerships with industry, universities and research institutes.
The government will support the growth of a steady local pipeline of cyber talent by strengthening its focus on university and vocational cyber security training programs, mid-career re-training/upskilling, attracting expats and skilled migrants and coordinating their alignment with industry needs and global trends. This includes skills and talent in areas such as technical, risk, education, analytics and administration.
It will also facilitate pathway opportunities into industry and government roles.
Victoria will build on its national and international connections, relationships and agreements to promote collaboration between government and industry creating efficiencies and opportunity for the state.
The Victorian Government will promote cutting-edge cyber technology solutions, and actively procure local capability where possible. It will also assist Victorian cyber companies to scale and export their services and products successfully.
In so doing, we will increase the attractiveness of the state as a place for established technology companies to invest, driving revenue and strong international investment.
Actions
Grow local capability
3.1 Establish an Expert Advisory Panel to provide insight on current and future cyber capability uplift opportunities and digital economic growth.
The Expert Advisory Panel will aim to report to government on:
a. skills and capabilities required in current and key future growth sectors
b. opportunities to influence and leverage Commonwealth and State initiatives, uplifting small business cyber security
c. opportunities to drive enhanced business engagement with the cyber ecosystem, to safeguard and underpin our current and future growth sectors.
3.2 Collaborate with AustCyber to map Victoria’s cyber security ecosystem and understand local capabilities.
3.3 Support the cyber security awareness and capabilities of SME’s through Small Business Victoria’s suite of support programs.
3.4 Explore opportunities for Victorian cyber start-ups to access developmental support and capital, through LaunchVic and Invest Victoria’s suite of support programs.
3.5 Strengthen support for investment in research, innovation and commercialisation of cyber-security technologies.
Enhance cyber skills development, pathways into employment and job growth
3.6 Support the growth of Victoria’s cyber industry and boost advanced digital technology industry skills through the Cremorne Tech Hub.
3.7 Provide cyber skills and facilitate internship opportunities to lift the participation of Victorians in digital careers.
3.8 Establish an internship program to support more women into senior leadership roles in the cyber sector.
3.9 Continue to support university and vocational training cyber security programs to build cyber skills and capability.
3.10 Work across government to facilitate a whole of Victorian Government Cyber Certificate IV Internship Program.
Support industry maturity and investment opportunities
3.11 Foster opportunities for leading Victorian cyber security SMEs to partner with global technology firms that invest, operate and locate in Victoria.
3.12 Support Victorian exporters to better understand and manage their cyber security risks when operating in global markets.
3.13 Identify opportunities to accelerate cyber-secure industry standards and practices through key business and technology precincts.
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