India's First Cybersecurity Startup Hub Set Up; University

COIMBATORE: Amrita University has set up what it claimed was India's first start-up hub to focus exclusively on cybersecurity. 

The Technology Business Incubator and the university's Center for Cybersecurity Systems and Networks have come together for this initiative, which will bring together research, funding and industry on the same platform to build the next wave of cybersecurity startups in India, TBI CEO Dr. Krishnashree Achuthan said.

The new 'Amrita University Cybersecurity Startup Hub' would enable to usher in a new era of innovation, research and startups in the field of cybersecurity, helping Amrita meet a critical national need, Krishnashree said in a release here today. 

Stating that Cybersecurity is estimated to be a 70 billion Dollar industry worldwide, with annual losses of 400 billion Dollars due to cybercrime and threats, she said that this loss is expected to shoot up to 2 trillion Ddollars by 2020. 

The Startup Hub will promote indigenous product development, audit and compliance testing and creation of test beds that replicate the Internet and enterprise environments. 

The focus areas will include mobile, cloud,cyber-physical systems, digital forensics, cryptography, malware analysis, and so on, Krishnashree said. 

TBI is one of only six incubators selected from 232 contenders across India to be made world-class under NITI Aayog's Atal Innovation Mission (AIM), with the objective of radically transforming the start-up ecosystem in India by providing financial scale-up support to these six 'rarest of the rare' incubators and upgrade them to global standards. 

Each of these will receive 1.4 million Dollars (about 10 crore) over two years to provide state-of-the-art facilities to the incubated startups, she said, adding the new Hub is being established as a part of this initiative.

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Source: PTI