Cybersecurity funding has long left to defense contracts; federal agencies were oft the ones that initiated and bankrolled initiatives. With budget woes and a growing need for security, those involved have been left to innovate and rediscover where funding can come from.
“Cybersecurity in the DC area benefits from the overall rise in sea-level of cyber spending, and certainly its proximity to the nearly $16B Federal spend. This spend, which largely goes to defense/Federal contractors, in turn creates a large pool of talent in cybersecurity that makes this region one of the strongest regions for cybersecurity expertise,” Anup Ghosh, founder and CEO of Fairfax, Va.-based Invincea, told DC Inno.
Many believe that the Washington DC/Metro Area – the Cyber Corridor – is becoming the Silicon Valley of Security due to the size and quality of outside investments. Venture firms and angel investors are becoming better solutions to innovators that desire to move away from government funding. The region is also starting to attract cybersecurity companies from all around the country, luring them through proximity to federal agencies and big name East Coast clientele. With this influx of innovative and forward-thinkers, it’s only a matter of time before our nation’s leaders shift their thinking too.
Source: DCInno