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Israeli partners tapped to help NYC become a global cybersecurity leader

06/24/2019 08:54:11 PM

Jun24

Andrew Blumberg

With some Israeli help, New York City aims to become the global capital of cybersecurity. Its Cyber NYC initiative is a public-private partnership fueled by a $30 million investment from the City of New York and $70 million in private funding. It aims to attract businesses and produce 100,000 jobs over the next ten years.

The city’s search for business partners led to the selection of three Israeli partners to lead components of the initiative. Israel has become a global cybersecurity hub, second only to the United States in terms of investment. Investment in Israel's thriving cybersecurity industry exceeded $1 billion for the first time in a single year in 2018 in the country’s 450 active cybersecurity companies.

This isn’t the first bonding of New York and Israeli cybersecurity efforts. Among other relationships, last year the Israel Electric Corp. set up a cybersecurity training center in New York to help U.S. companies and utilities fend off hackers.

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