Dtex Systems boosts cybersecurity in Australia
Start-up company Dtex Systems has just opened its regional headquarters in Canberra.
The company provides user behaviour intelligence for its clients to detect and mitigate insider cybersecurity threats.
Dan Tehan, Minister Assisting the Prime Minister for Cyber Security, said Australia could become the Silicon Valley of the global cybersecurity industry.
“About 19,000 people are employed in the cybersecurity industry in Australia and about $4.3 billion is spent on cybersecurity by Australian businesses each year,” Tehan said.
“Right now in Australia there are businesses of all sizes doing world-leading work in the area of cybersecurity with new jobs created every day.
“The government’s $230 million Cyber Security Strategy is generating investment in the industry and encouraging the next generation of cybersecurity professionals.”
The federal government established the Australian Cyber Security Growth Network, now called AustCyber, to help the domestic cybersecurity industry grow and become more competitive.
“The decision by Dtex Systems to return to Australia and base its operations here is a vote of confidence in the growing strength of our domestic industry,” said Tehan.
“A strong and vibrant domestic cybersecurity industry is important for our economy, for jobs and for our national security.”
The Defence Innovation Hub will invest $640 million over the decade to support Australian industry and research organisations to mature and accelerate the development of technologies.
In addition, the Next Generation Technologies Fund will invest around $730 million over the decade to research and develop emerging and future technologies.
Dtex Systems co-founder and Chief Technology Officer Mohan Koo said the company was forced to leave Australia to find customers who would embrace their innovation and help them achieve scale.
Koo said the company decided to return home to take advantage of the opportunities in the defence sector and to tap the potential of the local industry’s professionals.
“Australia has the brainpower and the trust of the international community to drive cybersecurity as a major national export,” he said.
“We also have the talent to make this a reality. The global demand for skilled cybersecurity personnel already far outweighs supply. There are more than a million vacancies for cybersecurity positions worldwide and Australians have the potential to fill a large number of these.
“We must encourage entrepreneurs to develop Australian thought leadership and intellectual property. Without this, we will be forever reliant on the innovations of others.”
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