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Eu Plans $2b Investment in Cybersecurity Research

By IDG News Service

July 8, 2016

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The European Union (EU) is contributing $500 million to fund research into cybersecurity, and is asking the private sector to contribute an additional $1.5 billion.

The $2-billion cybersecurity public-private partnership (cPPP) aims to boost cross-border research into cybersecurity, and to aid the development of security products and services for a range of industries, according to the European Commission (EC).

The EC already has taken steps toward this goal with the creation of the EU agency for network and information security (ENISA), the computer emergency response team, and Europol's European Cyber Crime Center. In addition, the EC is working on the Network and Information Security Directive, which will require EU member states to identify essential infrastructure operators and ensure they address the risk of cyberattack.

The EC hopes these efforts will make the EU a world leader in cybersecurity, which could become a competitive advantage, as security is one of the fastest-growing information technology activities worldwide.

The cPPP should be up and running by the third quarter of this year, and the initiative is currently accepting bids for its research funding, which is expected to start in early next year.

From IDG News Service
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