Cyber security is essential for personal and national safety. It’s also a booming business.

It’s growing so rapidly that Canberra is establishing more ways to nurture providers and meet the demand. The city’s educating more entrepreneurs and small businesses into the field.

That’s where the Canberra Innovation Network (CBRIN) excels. They turn business ideas into reality and support businesses to succeed.

Although not exclusive to cyber, it’s an area that CBRIN zooms in on. CBRIN delivers programs that help ambitious founders and company owners grow significant businesses.

Accelerating cyber businesses

CBRIN’s Cyber Security Business Accelerator program is funded through the ACT Government and delivered in coordination with the emerging Canberra Cyber Hub. It’s one way CBRIN contributes to the cyber ecosystem – connecting businesses, government and industry, and creating future jobs for Canberrans.

Rachael Greaves, CEO of Canberra-based Castlepoint Systems, participated in Accelerator. Castlepoint recently made the FinTech Global top 100 list of the world’s most innovative cyber tech companies, and is rapidly growing its cyber client base.

Through its relationship with CBRIN, Castlepoint has accessed advisory resources and got support to scale.

‘We have worked with CBRIN since the early days of our software business,’ Rachel says.

‘Having qualified people to bounce ideas off was essential in the early stages. And getting access to experts in commercialisation, strategy and marketing through Accelerator was key for us.

‘We wanted to establish really strong direction and governance from the outset.

‘And CBRIN’s support in connecting us with government departments and other organisations helped us access more support and advice. We were then successful in securing multiple grants from the ACT and Australian governments.

‘The Cyber Security Business Accelerator is the latest offering from CBRIN that we have been excited to be able to access.’

Creating jobs for the future

CBRIN CEO Petr Adamek believes Canberra is the future of cyber. The support is here in the capital.

‘Cyber security is a field in which we are already experiencing high demand for specialist skills,’ Petr says.

‘As a city with a high concentration of knowledge, institutions and large customers, we are ideally positioned to create the best environment in which the cyber industry will thrive.

‘The Accelerator Program is focused on helping businesses find new customers for their existing offerings and innovating their offerings.

‘The program has attracted a great variety of businesses that deliver highly specialised, as well as more broadly targeted cyber security services to governments, corporations and small to medium enterprises (SME). We already have interest in potential future programs.’

Creating and keeping up connections

As Castlepoint participated in this Accelerator and other CBRIN programs, they learned more about the local industry and accessed the resources to take their solution forward.

‘We learned more about investment and commercialisation with CBRIN than we ever thought we would,’ Rachael says.

‘I think that advice and guidance was a key part of our successful fundraising, and the quadrupling of our valuation in just six months.

‘Many cyber companies spend decades trying to get their first Federal Government client, but our position in Canberra ensured we already had credibility with agencies when we first launched.

‘Canberra is an incredible place to start a company because of this access to government, and to initiatives like CBRIN.

‘CBRIN take our success as seriously as we do and their enthusiasm, combined with their energy and professionalism, means we can always rely on them for advice and support, even now that we have finished the program.’

With 25 businesses now having completed Accelerator, and into the cyber ecosystem, Australia has more muscle to tackle cyber security challenges.