Colorado a Leader in Cybersecurity Innovation
For criminals, cybercrime is big business. In turn, protecting against online attacks has been attracting big business to the Centennial State.
For criminals, cybercrime is big business. According to Juniper Research, a security consulting firm, estimated that by 2019, the fallout from data breaches will cost companies all over the world a combined $2.1 trillion. Most of the cybercrime that occurs is likely undetected by anyone, making it difficult to evaluate the true scope of the threat. This may make it all the more daunting. In fact, IBM president and CEO Ginni Rometty said cybercrime is perhaps the greatest threat to business in the world.
It's no wonder, then, that cybersecurity is also becoming a booming business. Forbes reported that the worldwide market for cybersecurity was valued at around $75 billion in 2015. That market cap is expected to rise to $170 billion in 2020 as corporations and governments alike begin to recognize the huge risks posed by cybercrime and take requisite action. As it turns out, Colorado is one place where a large chunk of this money is flowing, making the state something of a hub for innovative cybersecurity companies that may represent the future guardians of our most sensitive data.
"Colorado Springs leads the state in cybersecurity enterprises."
The Denver Business Journal reported that Colorado Springs leads the state in cybersecurity enterprises, with another 30 being located in and around Denver. With so much talent already concentrated in one place, the state has begun plans to stake a claim for being the capital of digital security. Gov. John Hickenlooper and others have joined forces with the federal government to built what will be known as the National Cybersecurity Intelligence Center, a physical hub for research and development on cutting-edge security technology and protocols. In what's planned to be a 180,000 square-foot, walled-off compound in Colorado Springs, research on how to protect the nation's most vital assets from digital criminals will take place.
"We're beginning to see a blooming of small companies around cyber," Gov. Hickenlooper said. "States really are the laboratory of democracy."
The democratic part of the plan concerns the details of the research that will be performed there. While the Center will serve as an incubator for top cybersecurity talent in the private sector, it will also encourage collaboration between private businesses, government agencies and cybersecurity experts. According to the Denver Business Journal, it is hoped that researchers from the facility will serve as a kind of consultant for businesses who want to beef up their digital security strategies. They also want to serve as first responders to contain massive data breaches that have seemingly become commonplace. ZDNet reported that in 2014 alone, at least 1 billion personal records were hacked or otherwise illegally accessed. This includes health records, bank accounts and other personal data like addresses and Social Security numbers.
It is hoped that this new cybersecurity initiative being spearheaded by Colorado will have an effect on similar measures taken by other states. Already there is ample evidence showing American businesses and the government are working together to solve the cybersecurity puzzle.
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