Cover Feature Cyber Security
Moving to Silicon Valley By Graeme Speak
Note from the Editor: The ACSM team recently caught up with Australian entrepreneur, Graeme Speak, who recently relocated to the U.S. to continue the growth and development of his cyber start-up, BankVault. After a short conversation, it seemed important to us that Graeme tells his story, since there are lessons for us all. Graeme agreed to write about his journey from Australia to Silicon Valley, with the intention of helping other Australian entrepreneurs rationalise the value of international reallocation, while hopefully busting a few myths relating to keeping business onshore as opposed to losing them overseas. TC
W
hen I read about another of Australia’s tech businesses moving to Silicon Valley or London, I often note a subtext in the article about the ‘nation’s loss’, yet for many companies seeking to grow, including my own, it simply had to be considered. For most companies, including BankVault, location is rarely a zero-sum choice, where you simply leave Australian shores forever, and I think that for the long term, Australia would be wise to take a more strategic and holistic view. With global uncertainty forming around the digitisation and automation of many industries, Australia’s capacity to be a good proposition for businesses will invariably need to consider itself in a more global and connected context. Bemoaning the loss of a company overseas overlooks a far bigger game. Australia can and does benefit from the traction that hundreds of Australian businesses gain in Silicon Valley and around the world.
32 | Australian Cyber Security Magazine
The networks, relationships and business activity that connects our industries and cities to the rest of the world are fundamental to the ongoing relevance of our cities, as digitisation takes hold. BankVault spreading its activity between the US and Australia is one small part of that global connectivity. In 2016 when BankVault won the Word Cup Tech Challenge in San Francisco and embarked on our international journey, we just saw it initially as recognition of our technology by Silicon Valley. BankVault is a technology innovation company focused on cyber security. Our technology allows users to sidestep their own local computer, browser and keyboard to conduct banking, crypto-trading or other online transactions securely – regardless of whether hackers or malware have infiltrated your system. We were lucky enough to have turned heads