Joondalup Business Forum Aims to Boost Australia's Cyber Security Exports
The Joondalup Business Forum is set to boost Australia's cyber security sector. The event, hosted by the City of Joondalup, AustCyber, and the WA AustCyber Innovation Hub, aims to strengthen exports and foster international alliances. Mayor Albert Jacob highlights Joondalup's leadership in cyber security and its goal to grow the local economy by protecting businesses from cyber threats.
Australia's cyber security sector lags behind international peers in revenue growth due to low export competitiveness. Only 50% of Australian cyber security firms sell overseas, and a mere 17% of the sector's revenue comes from exports. In comparison, Australia generates 60% less export revenue in cyber security compared to the UK. The Joondalup Business Forum aims to address these challenges and expand Australia's global reach.
The forum will discuss the 2022 Sector Competitiveness Plan and Australia's place in the global cyber security sector. Experts from government, education, and industry will participate in a panel discussion moderated by Jason Murrell, Group Executive at AustCyber. Michael Bromley, AustCyber's CEO, expresses optimism about growing international trade opportunities for the sector. Despite Australia accounting for 2.1% of global cyber security demand, domestic demand is forecast to decline to 1.9% by 2025, making exports a crucial focus.
The Joondalup Business Forum seeks to enhance Australia's cyber security exports and international alliances. By leveraging the expertise of local and global leaders, the event aims to improve the sector's competitiveness and protect Australian businesses from cyber threats. With the support of the City of Joondalup, AustCyber, and the WA AustCyber Innovation Hub, the forum is poised to drive growth and innovation in Australia's cyber security sector.
