Canadian Security Institute Launches

Tuesday, January 24, 2017 @ 04:01 PM gHale

The worldwide cybersecurity market is large and growing, with market sizing estimates ranging from $75 billion in 2015 to $170 billion by 2020.

The size of the market is a response to the rising global cost of cyberattacks, which is expected to grow to $2.1 trillion by 2020.

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So, along those lines, in order to stay ahead of the cyberthreat, the Canadian Institute for Cybersecurity, which wants to be a hub for research, training, and industry collaboration, opened at the University of New Brunswick (UNB) January 16. The Institute has more than $4.5 million in funding and the establishment of a research partnership with IBM.

“The Canadian Institute for Cybersecurity is a culmination of more than 15 years of successful innovation and research in cybersecurity at the University of New Brunswick,” said Dr. Eddy Campbell, UNB president and vice-chancellor. “The creation of the institute allows us to forge an even more crucial role in developing security measures necessary to protect modern critical infrastructure in Canada and beyond.”

UNB said the institute received $2.27 million in funding from the Atlantic Canada Opportunities Agency’s Innovative Communities Fund and through the Canadian Foundation for Innovation. The provincial government provided a contribution of nearly $2 million, while UNB is adding $330,000 in funding.

“The need for more cybersecurity support and services around the world is a huge opportunity to create jobs here in our province,” said New Brunswick Premier Brian Gallant.

New Brunswick is aiming to transform its economic landscape toward a knowledge-based economy by strategically focusing on innovation in cybersecurity.

Dr. Ali Ghorbani, Canada Research Chair in Cybersecurity at the University of New Brunswick and dean of the faculty of computer science at the university, serves as director of the institute.

IBM is the institute’s first research and development partner, helping to fund skilled resources in cybersecurity and other in-kind contributions such as technical and management resources to provide project oversight and mentorship for students.

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