Just when we thought Things could not get worse in 2020, we received news on SolarWinds Hack and its impact on more than 18,000 businesses and dozens of potential agencies of the US government – including departments of departments. business, Energy And Treasury.
We are just now beginning to understand the extent of their intrusions, but this story brings to light what the cyber security industry already knows: more time and resources than it takes to solve a cyber security problem Will apply.
It will take more time than the time and resources it takes to solve the cyber security problem.
Adding to the challenge, COVID-19 has created fertile ground for acceleration of cyberbats that are more sophisticated, dangerous, and prevalent. In this strict setting, cyber security has become even more competitive and a national security imperative and has created a high demand for new solutions.
It is everything we – enterprises, startups, government and investors – need to work together to solve. So, from the point of view of venture capital, where are the cyber security investments being made, and where is the talent coming from to help stop the hack attack?
California’s Silicon Valley has traditionally been the epicenter of Cybercity Innovation. It is home to some of the largest cyber security companies including McAfee, Palo Alto Networks and FireEye, as well as more recently high-flying companies such as CrowdStrike and Octa, providing a strong talent base for many aspiring venture investors.
However, this is changing rapidly. Cyberspace expertise is now emerging in new areas where talent and hands are in need of innovative solutions. In particular we are seeing growth in areas such as the East Coast of America and Europe, led by the United Kingdom.
Investment cybersecurity startups in Silicon Valley remain flat until 2020 as we see record venture funding of cyber security companies in these emerging sectors. And the reasons why there may be better solutions to address current and future cyber needs.
The emergence of a new cybercity ecosystem
A new generation of cyber veteran practitioners coming from government and financial services is becoming the next generation of entrepreneurs. This is the latest breed of cyberspace startups emerging from cities such as New York, Washington, DC and London and away from Silicon Valley, promoting new innovation. East Coast Businesses Prefer Ironnet*, Founded by former NSA Director General Keith Alexander, is an example of this growing trend of new leaders coming from federal government backgrounds.
These new cyber security leaders with front-line experience are developing solutions that fix the problems they face as customers and thanks to COVID-19, the best to join them regardless of their location Hiring talent. The epidemic has accelerated remote-working trends, leading to more flexible job opportunities in the cybercity industry. These companies are generating gains in their West Coast counterparts’ ability to recruit better talent, lower costs, and be closer to customers and prospects.