One of CyberNorth’s objectives, number three if you are keeping count, is to support the growth of new cyber security businesses. This may seem at odds with our second objective, which is to support the growth of existing businesses but this is not the case. One of the ways in which the region can do better is by encouraging more and more of the sector to operate from our corner of the world. Clearly our region can only sustain a certain number of businesses based upon its demographics yet cyber security is a global business and there is no reason why the world could not be our oyster.
Except that we don’t have enough businesses that are yet ready to compete internationally, even though there are many examples of people working in the industry and in the region for foreign companies. It is our belief that to improve our lot and present ourselves on the world stage we need to do more to attract inbound investment. After all we have the talent, both in our five universities and within our existing companies.
How then would aiding more businesses to start be beneficial to the region? Firstly it would show the national and international markets that the region is a great place to be, that there is innovation and talent to be had and made use of. This will draw in even more students and researchers. Secondly, having more new businesses will, while potentially increasing competition in the short term, lead to greater innovation and new product development in existing companies. Thirdly it will help existing businesses that are able to buy out and absorb new products into their current portfolios. Fourthly, as not all new businesses are successful there will be an increase in highway skilled and qualified individuals ready to work in the market.
The region needs more new cyber security businesses and most of these are going to come from people who are either working in the sector now or are studying at college. This is why we are leading this year’s #CyberFest with an event aimed at helping those people who are thinking about their own firm. It doesn’t matter if you have a fully fledged idea or it is just an itch you want to scratch, the event on 5 September will be of help.
You will hear from speakers talking about their own experience and giving advice as to what help is available, in business support, finance and accommodation. We’re recording the event as well so you can go back over it in case you missed something.
Tickets for ‘#CyberFest – Start your new business’ are available here.
By the way, you don’t need to be just thinking about cyber security business. The same principles apply.