Cybersecuring the promised land
T By Sarosh Bana
he revolutionary kibbutz collectives shaped the statehood of Israel as it emerged in 1948 in a sandstrewn terrain engulfed by a hostile neighbourhood. Israel is now a vibrant and innovative start-up hub where tech companies are today becoming the building blocks of the modern Jewish state. Defending itself ‘physically’ by military means and ‘virtually’ through effective cybersecurity are central to Israel’s survival. In the last three decades, cybersecurity has become a national priority for the Israeli government, as well as for the financial and industrial sectors. Over the course of time, Israel’s cyber practitioners have gained expertise and a worldwide reputation for developing cutting-edge security solutions and defences. This sliver of a country of 8.4 million people is widely acknowledged as the “start-up nation”, being a leading innovation hub with the highest density of start-ups and venture capitalists in the world. It has more NASDAQ-listed companies than any country, save for the United States and China, but more than India, France, Germany, Japan, South Korea, Singapore and Hong Kong combined. The total market capitalisation of these Israeli companies exceeds $85 billion. Start-Up Nation Central Ltd, an independent, non-profit organisation from Tel Aviv, that claims to be the authoritative source on the Israeli innovation community, says that Israel
56 | Australian Cyber Security Magazine
Tel Aviv - Israel
has emerged as one of the world’s leading centres for cybersecurity solutions. “With $581 million in investments in 2016, constituting 15 per cent of worldwide investments in cybersecurity firms, investors have discovered that many of the hundreds of cybersecurity firms in Israel – both mature companies and new start-ups – offer solutions to many of the cyber-threats that have overwhelmed financial institutions, online services, manufacturers, and any other organisation that relies on digital platforms,” it mentions, drawing figures from a report by tech industry database PitchBook. A quarter of the 65 Israeli cyber start-ups founded last year have already succeeded in raising funds, the report said. Start-Up Nation explains that Israeli cybersecurity firms have unique solutions and are being used by some of the world’s largest companies to protect their data and businesses, which rely on their ability to safely carry out digital transactions. “Israeli companies are making a difference in the battle to secure the digital future,” it points out. “Securing self-driving cars, better and safer authentication, battling ransomware – all these and more are part of the Israel cyber-defence success story.” Israel is fast becoming a centre for automotive security, with as many as seven new companies founded over the past two years to protect connected cars. The technology being developed now will provide the solutions the world will