CYBER SECURITY LANDSCAPE: Opportunities in New Brunswick, Canada

Oct 27, 2021

Start Date : Wednesday, Oct 27, 2021

End Date : Wednesday, Oct 27, 2021

Time (IST) : 05:30 PM - 06:30 PM

Time (UTC) : 06:00 AM - 07:00 AM

Services Offered : Technology Advisory,

Speaker(s) : Krishnanand Bhat, Joe Allan

In this webinar, we understand the cybersecurity landscape and opportunities provided by the Canadian cybersecurity hub - New Brunswick.

Advantages of doing business in New Brunswick

New Brunswick is a province within Canada on the eastern coast that has grown as a city to provide a host of benefits like:

  • Educated and skilled workforce
  • An average employee in New Brunswick will stay with the company for approx. eight years, leading to reduced hiring costs
  • It houses one of the largest deep-water ports in North America
  • It is within proximity to cities like the capital, Toronto and Montreal
  • Seamless, convenient and competitive time zone
  • Lower living cost (USD 225,200) compared to Toronto (77% less), Vancouver (81% less), Calgary (56% less), etc.
  • Assistance for application for permanent residency
  • Several accelerators and incubators for supporting entrepreneurship

New Brunswick proves to be a great city to cut costs, utilize plug and play infrastructure and leverage niche talent pool to grow one's business via having their corporate offices, back offices, R&D facilitations, etc. here. It also acts as an entry point to enter the North American and European markets.

New Brunswick as a cybersecurity hub

"We are looking for companies that are that are venture-worthy ideally; they've already received venture capital, perhaps a seed round and looking to commercialize and grow their operations."

- Joe Allan, Managing Director for Accelerator Programs at J Herbert Institute of Technology and Entrepreneurship

New Brunswick is the Canadian hub for cybersecurity spanning its expertise across ICT (Information and Communications Technology), digital health systems, energy, etc. The following factors have made them reach this feat:

  • Being agile and availability of focused infrastructure like fiber optic cables to specialize in specific industries.
  • Leading research, innovation and business incubation in cybersecurity is provided at the University of New Brunswick.
  • Availability of infrastructure that acts as a sandbox for the development of new products.
  • More than 100 organizations use 20+ datasets that are shared across the world for collaboration.
  • A growing set of innovative homegrown companies across AI, augmented reality, blockchain, etc. are looking for global expansion and partners.
  • Startup incubators and accelerators provide launchpad support to global companies for entering the North American market.

India as a global cybersecurity hub

India's push for going digital and the momentum achieved had led to the rise of the cybersecurity industry. In August 2021, 3.5 billion transactions were recorded on the UPI worth USD 88 billion and we have 1.2 billion mobile subscriptions. This has eventually resulted in:

  • Growth of cybersecurity space at a CAGR of 15.6%
  • 2000+ MNCs setting up their GCCs in India
  • Rise of 220+ domestic products looking to expand to global markets
  • 18% of cybersecurity companies are cloud-ready
  • New-age startups growing at 60% YoY
  • 40% of the conversion rate for patents
  • Growth in the service side of the cybersecurity market across consulting, advisory, management, etc. with USD 4-5 billion in revenues
  • 80% of the services market is global (US, UK, Australia, etc.)
  • India holds 16% of the global talent pool for the cybersecurity market while still being understaffed
  • From threat intelligence to data security, India is also growing in the product landscape
  • Incubation infrastructure with industry support is available for startups to bring new products to market

In the end, both India (Telangana) and Canada (New Brunswick) provide tremendous opportunities for collaboration, expansion and growth within their respective markets for startups and MNCs to leverage

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