Cybersecurity innovation is absolutely vital if CISO teams are to protect data and intellectual capabilities. Attacks increased 15.1% in 2021 alone and this trend is expected to continue.
Gaps in existing cybersecurity measures, a lack of suitable talent, and restricted budgets make cybersecurity a difficult challenge. Companies also face ever-expanding legislative frameworks making compliance a more complex and burdensome necessity.
Additionally, hacks, data breaches, and ransomware attacks continue to grow in sophistication and diversity. Criminals today use machine learning, AI, and other cutting-edge technologies to launch their attacks. Consequently, the cat and mouse game of business versus hackers just got much harder.
Challenges Increase as COVID-19 Recedes
Besides the sophistication of cybercriminals, business deals with many other considerations that add to cybersecurity complexity.
For instance, the Internet of Things continually connects more devices through the web, mobile, and social platforms. A mobile security report found 40% of all mobile devices are vulnerable to attack. Additionally, 97% of companies worldwide dealt with mobile threats in 2021.
Companies also rely on the cloud more and employees increasingly depend on their personal devices. As 5G networks expand, more users will connect, which also increases opportunities for hacking.
Mid-size businesses are already particularly vulnerable due to their reliance on a hybrid work model. According to a recent study, targeted attacks doubled and customized attacks increased fourfold in 2021.
However, no business is immune to a cybersecurity attack and it is a costly affair. A Ponemon Institute report found the average price tag for an enterprise data breach incident is $4.24 million.
Prioritizing Cybersecurity Innovation Essential
Unfortunately, many businesses view cybersecurity as a low-level priority. They don’t budget for expertise and innovations, because they can’t quantify the investment. However, this short-sighted outlook has dire implications.
As enterprise systems collect more data and the software infrastructure becomes more complex, the need for proper data management increases. Even small mistakes can escalate and severely impact a company’s bottom line.
Ransomware demands, data breaches, business interruptions, supply chain attacks, and IT failures and outages can cripple or close a company. Regulatory fines, penalties, and procedures only add to the burden.
Scope of Work Demands Collaboration
The CISO team must strengthen cybersecurity capabilities in a a constantly-shifting, complex realm. This requires an innovative environment where original ideas can be quickly and effectively analyzed, eliminated, or tested. However, this can be difficult to achieve in-house on a tight budget and without a pool of disruptive innovators.
Fortunately, cybersecurity innovation is readily accessible through partnerships. By moving outside of corporate walls, the CISO team can tap into cutting-edge security technology, manage risk, and find appropriate business solutions. In many cases, solutions already exist to meet pressing cybersecurity needs.
Cybersecurity Innovation Map
EarlyBirds offers the best and brightest minds available in the cybersecurity ecosphere. Our global view of cybersecurity is in the form of an innovation map broken down into key thematic areas and sub-themes.
Users can look at the entire ecosystem of cybersecurity or drill into a specific theme or sub-theme. Consequently, they can identify solution options or emerging technologies based on maturity, location, and many other attributes. CISOs and their teams can use this data and EarlyBirds processes to quickly solve challenges, seize opportunities, or evaluate options before going to market.
The innovation search function allows CISO’s to identify local sovereign innovators to support and nurture local startups, scaleups, and mature businesses. The EarlyBirds cybersecurity innovation map can also be linked to an organization’s strategic and operational cybersecurity plans and operations.
EarlyBirds Innovation Ecosystem
The EarlyBirds Innovation Ecosystem is a Business-to-Business portal connecting Innovators, Early Adopters, and Subject Matter Experts. Early Adopters are leaders or influencers in an organisation eager to identify new and disruptive technologies. They want to seize opportunities, solve business challenges, or create new products and services.
The Ecosystem has a data pool of over 4 million global innovations that may already address your cybersecurity security challenges. Alternatively, organisations can list their challenges and request cybersecurity solutions from innovators.
EarlyBirds Explorer Program
The Explorer Program is tailored towards those who need innovation as a service to supplement existing innovation programs, or to conduct innovation projects when required.
EarlyBirds Challenger Program
The Challenger Program focuses on a single organisational or technical challenge. It looks for the most relevant innovators that meet your organisational, technical, and risk requirements.
The program is run by an EarlyBirds Subject Matter Expert who collects your organisational requirements. The SME then searches the data pool to identify and curate options for further evaluation. The most suitable option is chosen and the SME drafts a roadmap of next steps, POC, trial, or implementation.
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EarlyBirds can provide direction and expertise if your organisation needs to improve cybersecurity capabilities. We can find innovative solutions and connect your organisation to appropriate disruptive technology.
We help organisations find direction and accelerate their innovation, both within their silo and through external collaboration. Our expertise in cybersecurity extends to many sectors including Operations & Maintenance, Energy, Education, Healthcare, the Public Sector, and more.
Register at https://earlybirds.io/, or contact us to discuss your needs.