A Cyber Risk Meetup Exclusive & Special Speaker Event with ICE71

Incognito war stories

Breaking into a building, accessing the hidden world of a rogue intruder, and other “war stories” were shared at the third edition of the Cyber Risk Meetup held on 1st November, 2018 at JustCo in the heart of Singapore’s Central Business District. Co-organized with ICE71, the region’s first cybersecurity entrepreneur hub founded by Singtel Innov8 (corporate venture capital unit of Singtel), and NUS (National University of Singapore), the sell-out event of security practitioners and enthusiasts networked and shared best practices, thoughts and experiences on defending against the rapidly growing cybersecurity risks in the region.

 

Cyber Risk Meetup 1

 

“Privasec’s Chief Offensive Officer, and leader of the Red Team Karan Khosla sharing real life case studies with the audience. Photo Credit: ICE71”

Keynoting the event was lessons learned from Red Teaming exercises. As opposed to traditional assessments such as Penetration Testing, which may be scoped to focus only on technical risk. Red teaming assesses the organisation’s business risk and its ability to detect and respond to incidents

Privasec’s Chief Offensive Officer, and leader of the Red Team Karan Khosla, revealed two real-life case studies and the role social engineering played in gaining unauthorised access to buildings and secured areas

Most non-practitioners may over-estimate the effort and time spent on the actual attack phase, but in fact, he said, “most of the cases, reconnaissance takes up the 90% of time”.

 

Cyber Risk Meetup 2

 

“Panelist (Steve Ng (Lead, Digital Operations & Platforms, Mediacorp), David Robinson (CTO, STT Connect) and Viktor Pozgay (CISO,Avaloq Sourcing APAC), moderated by Shamane Tan (APAC Cyber Security Advisor). Photo Credit: ICE71”

Typical techniques to bypass physical access controls include looking legitimate (e.g. putting on officious looking uniforms), tailgating (following smokers back into the buildings via fire-exit doors), claiming false credentials in requesting for information such as access cards (and replicating them).

Another common technique is phishing, to extract confidential information such as user ID and passwords.  In a case recounted by Karan, the password opened up access to a master mailbox that led to several inboxes of the senior executives.

The key to defend and protect against these social engineering attacks is identifying the weakest link – and usually this means enhancing security awareness of staff.

This was one of the key messages of the discussion panel.

 

Cyber Risk Meetup 3

 

“ICE71 organisers welcoming guests to the Cyber Risk Meetup 1st Nov 2018 event at JustCo, Singapore. Photo Credit: ICE71”

Panelist Steve Ng (Lead, Digital Operations & Platforms, Mediacorp), David Robinson (CTO, STT Connect) and Viktor Pozgay (CISO,Avaloq Sourcing APAC), moderated by Shamane Tan (APAC Cyber Security Advisor) emphasised that whilst there are growing sophistication of attackers and number of breaches, there are basic Cyber Hygiene measures that can be adopted by everyone.

Exercising caution over the use of devices such as USBs, and adopting encryption when transmitting confidential and sensitive information are some well-known examples.  Interestingly, while brute-forcing password may be a way to access a google email or Hotmail account, most hackers seek to reset passwords relying on answers found on social media to “what is your pet’s name”.   The lesson is that whilst secure passwords are critical, minimal divulging of personal information on social media or other public platforms is also crucial.

Cyber Risk Meetup 4

“Guests networking to the Cyber Risk Meetup 1st Nov 2018 event at JustCo, Singapore.. Photo Credit: ICE71”

Key best practices for enterprises were also highlighted during the 30-minute panel discussion. (LIVE FEED LINK HERE)

Gaining senior management level buy-in into cyber security polices and strategies is a priority, according to Viktor Pozgay (CISO,Avaloq Sourcing APAC).

Rapid remediation is an important defence when there is an incident.  “When you have an intruder in your network, the question you need to ask yourself is how fast can you remediate”, and “if you find that it takes you weeks to patch, start making changes now”, said David Robinson (CTO, STT Connect).

Engaging a variety of vendors for different parts of security is also part of effective security risk management, to minimize single point of failure whether through legitimate or illegitimate methods, according to Steve Ng (Lead, Digital Operations & Platforms).

Cyber Risk Meetup 5

“Prashant Haldankar, CISO Privasec raising a question to the panel. Photo Credit: ICE71”

“People is your most important asset”, Steve said. Incidents need to be identified as early as possible, and with staff who are knowledgeable with the right skills and experience, they would be able to identify early warning signs and any anomalous behavioural patterns.  “No one does the attack on day 1, there are leading indicators”, David agreed.

So, whilst the weakest link may be the staff, they are also key to protecting the organisation against attacks.

“Educate your people”, said Steve. Indeed, raising awareness of the cyber security landscape and the part that everyone can play in protecting the organisation is the ultimate best defence.

Content retrieved from: http://aseantechsec.com/a-cyber-risk-meetup-exclusive-special-speaker-event-with-ice71/.

NUS Enterprise and Singtel Innov8 launch new hub for cybersecurity startups

NUS Enterprise is the entrepreneurial arm of the National
University of Singapore, while Singtel Innov8 is a corporate venture
capital fund with its own set of decision-making, approval and funding
processes and a fund size of US$250 million.The Innovation Cyber Security Ecosystem at Block 71 (ICE71) aims
to enhance Singapore’s cybersecurity network ICE71 and create a strong regional
cybersecurity ecosystem with links to the global industry.

It intends to attract and develop capabilities and new technologies.
The initiative will provide support services such as access to working space,
funding, domain experts as well as networking events.

Start-ups at ICE71 will also have access to enterprise grade
cybersecurity resources enabling them to develop and test proof-of-concept
solutions in a virtual environment.

ICE71 will open in April at Block 71 Ayer Rajah Crescent
where BLOCK71 Singapore is also located.

ICE71 will offer three different startup programmes. ICE71
Inspire is a one-week programme developed for individuals from academia and
industry, to test their theories and ideas, qualify feasibility and commercial
viability, and develop their entrepreneurial skills. The programme is a
platform to develop workable business models. It is run by CyLon, a leading
European accelerator.

There is a three-month accelerator programme for early-stage
cybersecurity start-ups. During this programme, start-ups will participate in a
curriculum run by CyLon to sharpen their company’s value proposition,
go-to-market strategy, commercial model and business strategy. Participants
will receive capital funding and have access to a co-working space within
ICE71.

The third programme, called ICE Scale, is designed to help
international and local start-ups grow their business within the Asia Pacific
region. Under this programme, participants will take up residence in ICE71,
establishing their Asia Pacific operations.

An initiative by NUS Enterprise with strategic partners,
BLOCK71 Singapore offers a thriving ecosystem for the start-up community,
providing them with mentorship and growth opportunities both locally and
overseas.

ICE71 is supported by the Cyber Security Agency of Singapore
and the Info-communications Media Development Authority.

Speaking at the Committee of Supply Debate, Singapore
Minister for Communications and Information Dr Yaacob Ibrahim talked
about ICE71 as an example of an initiative to grow a strong cybersecurity
ecosystem in Singapore.

“As a founding partner of ICE71, NUS is excited to help
expand the cybersecurity ecosystem. We have a vibrant community comprising some
of the country’s top cybersecurity expertise at the National Cybersecurity
R&D Laboratory, the Singapore Cybersecurity Consortium, and the NUS-Singtel
Cyber Security Research and Development Laboratory. We are pleased that ICE71
will be part of this thriving network,” said Dr Lily Chan, CEO of NUS
Enterprise.

“We see the new cybersecurity track in the Lean
LaunchPad Singapore programme to be launched by NUS Enterprise as a move to
strengthen the University’s ability to further nurture home-grown competencies
and start-ups in the cybersecurity space.”

The Lean LaunchPad Singapore programme, piloted by NUS
Enterprise as the first entrepreneurial education programme for researchers,
helps research scientists and engineers turn their inventions into commercially
viable products and feasible business ventures.

Mr Edgar Hardless, CEO of Singtel Innov8 said that the launch of
ICE71 highlights the urgency of developing innovative solutions to address the
rapid increase in the frequency, scale and sophistication of cybersecurity
threats.

“Through ICE71, we aim to nurture and groom suitable Singaporean and
foreign cybersecurity start-ups to help bring their ideas to life. With our
combined resources, we can help these start-ups fine-tune and market their
cybersecurity solutions globally,” he added.

Content retrieved from: https://www.opengovasia.com/nus-enterprise-and-singtel-innov8-launch-new-hub-for-cybersecurity-startups/.

Singtel Innov8 and NUS to create Singapore’s first regional cyber-security startup hub

  • ICE71 aims to strengthen Singapore’s growing cyber-security ecosystem
  • Positions Singapore as a sustainable hub for cyber-security in the region
Singtel Innov8 and NUS to create Singapore's first regional cyber-security startup hub

SINGTEL Innov8, the corporate venture capital unit of Singtel, and the National University of Singapore (NUS), through its entrepreneurial arm NUS Enterprise, on March 6 joined forces to launch Innovation Cyber Security Ecosystem at Block 71 (ICE71).

This will be the country’s first integrated regional cyber-security hub to spawn and support early stage and growing startups, entrepreneurs and academics from around the world.

Supported by the Cyber Security Agency of Singapore (CSA) and the Infocommunications Media Development Authority (IMDA), ICE71 aims to strengthen Singapore’s growing cyber-security ecosystem by attracting and developing competencies and new technologies. Singtel and NUS have been deepening their partnership to support Singapore’s transformation into a Smart Nation and help enable the country’s digital economy.

Through the NUS-Singtel Cyber Security Research and Development Laboratory that was set up in 2016, the partners are jointly developing advanced cyber-security solutions that could help mitigate the rapid rise in cyber-security risks.

“ICE71 is a natural transition for the Singtel and NUS partnership and highlights the urgency of developing innovative solutions to address the rapid increase in the frequency, scale and sophistication of cyber-security threats,” said Singtel Innov8 chief executive officer Edgar Hardless (pic, above).

“Through ICE71, we aim to nurture and groom suitable Singaporean and foreign cyber-security startups to help bring their ideas to life. With our combined resources, we can help these startups fine tune and market their cyber-security solutions globally. This comprehensive programme strengthens our cyber-security ecosystem and positions Singapore as a sustainable hub for cyber-security in the region.”

ICE71 is teaming up with London-based CyLon, Europe’s leading cyber-security accelerator, to provide a range of open learning platforms and support to cyber-security startups through three initial programmes – Inspire, Accelerate and Scale.

Singtel Innov8 and NUS to create Singapore's first regional cyber-security startup hubInspire is a five-day pre-accelerator boot-camp for researchers, students and aspiring entrepreneurs to test and qualify cyber security business concepts.

Accelerate, is a three-month accelerator programme to equip early stage startups with financial, business structure and go-to-market strategies to progress their business.

Scale is a landing pad designed to provide market access to help growing global and local startups to scale their businesses into the Asia Pacific region.

“As a founding partner of ICE71, NUS is excited to help expand the cyber-security ecosystem. We have a vibrant community comprising some of the country’s top cyber-security expertise at the National Cybersecurity R&D Laboratory, the Singapore Cybersecurity Consortium, and the NUS-Singtel Cyber Security Research and Development Laboratory. We are pleased that ICE71 will be part of this thriving network,” said NUS Enterprise CEO Dr Lily Chan (pic, top right).

ICE71 will create a strong regional cyber-security ecosystem with solid foundations and links to the global industry.

Beyond providing support services such as access to working space, funding, subject matter experts and networking events, ICE71 also provides startups with enterprise grade cyber-security resources such as Singtel’s cyber-range to test and build proof-of-concept solutions in a virtual environment.

Singtel Innov8 and NUS to create Singapore's first regional cyber-security startup hubCSA deputy chief executive (Development) Teo Chin Hock (pic, right), said: “The cyber-security domain offers opportunities for innovation and economic growth. This partnership highlights our shared commitment to bolster cyber-security innovation in Singapore’s startup ecosystem. By working together with the industry, we aim to prepare entrepreneurs, equip them with the know-how as well as help them, grow and scale up by bringing their ideas and solutions to the global market.”

ICE71 is the second collaboration between Singtel Innov8 and the University’s entrepreneurial division.

In 2011, both parties spearheaded the BLOCK71 initiative in Singapore, a strategic programme to help startups gain one-stop access to the resources they need to effectively develop and market their solutions to customers.

BLOCK71 San Francisco soon followed in 2015 to strengthen ties between the US and Singapore start-up communities and ecosystems.

The combination of Singtel Innov8’s sizable cyber-security investments in the US and Israel, as well as access to the Singtel Group, and NUS’ global presence, network and history of nurturing current and future entrepreneurial leaders, places the team as pioneers in positioning Singapore on the international stage.

Singtel Innov8 and NUS to create Singapore's first regional cyber-security startup hubIMDA assistant chief executive (Industry development) Angeline Poh (pic, bottom right), said: “Cyber-security is a key pillar of the Infocomm Media Industry Transformation Map, and is essential to drive Singapore’s Digital Economy. Through this partnership, we aim to support Singapore’s promising cyber-security start-ups as they accelerate and scale their solutions to address global challenges, from right here in Singapore.”

ICE71 will be opening its doors in April 2018 at Block 71 Ayer Rajah Crescent, the heart of Singapore’s innovation cluster of technology start-ups.

Interested startups and cyber-security entrepreneurs can find more information at ICE71.sg and register to be a part of the programme.

ICE71 will begin its first call global out to invite the inaugural cohort in April 2018.

ICE71 and its partners began engaging corporations, government agencies, institutes of higher learning, and industry experts to participate in growing and nurturing the cyber-security ecosystem.

Content retrieved from: https://www.digitalnewsasia.com/digital-economy/singtel-innov8-and-nus-create-singapores-first-regional-cyber-security-startup-hub.

Horangi praises Singapore’s initiative on new cybersecurity accelerator programme

Horangi praises Singapore’s initiative on new cybersecurity accelerator programme. In the pursuit of becoming Start-up Nation, Singapore plans to launch its first cybersecurity-centric accelerator programme in April.

The pioneer programme will commence with the support from Singapore’s very own Info-communications Media Development Authority (IMDA) and the Cyber Security Agency (CSA) with aims to accelerate start-ups in cybersecurity sectors.

Under the programme, the cybersecurity entrepreneurs have access to a three month stint at a start-up hub, named Innovation Cybersecurity Ecosystem at Block 71 (ICE71). In that hub, the hopefuls will learn pre-accelerator boot camp, accelerator training programme and landing pad for start-ups with Europe-based cybersecurity accelerator Cylon.

“Government support for cyber security is critical to grow Singapore’s regional expertise and cyber security startups like Horangi will benefit from these programs,” said Paul Hadjy, CEO at Horangi Cyber Security (Horangi).

Hadjy told Hackwarenews team that the state top-down approach is essential in supporting the embryonic state of cybersecurity development in Singapore.

In his opinion, the barrier for growth in the cybersecurity security often pointed down to the shortage of talents in the field. Thus, the accelerator programme will allow the startups to gain access to funding as well as the right mentorship to groom talents and expertise.

Besides the lack of talents, Hadjy highlighted that many Southeast-Asia based firms have downplayed the values of cyber security in their overall corporate strategy.

“Many ASEAN companies view cyber security as an IT task and not an overarching business risk,” opined Hadjy.

This oversight causes many decision-makers to set ineffective budget targets for cyber security spending, which in turn leads to myopic, ineffective spending. However, he noted that corporate companies are gradually changing their mindset on the importance of cyber-security.

“Today, organizations in Singapore and other regions are shifting towards a more holistic view of cyber security; where it has become a pressing concern that affects business processes across all enterprises.” concluded Hadjy.

Going forward, he believed that enterprises should engage a third party cyber security company in helping them to analyse their profile and identify system vulnerabilities. Then, the outcome of the analysis can be used to formulate plan to protect key data and assets from breaches.

Content retrieved from: https://hackwarenews.com/horangi-praises-singapores-initiative-new-cybersecurity-accelerator-programme/.

Cyber-security start-up hub to groom entrepreneurs

MINISTER FOR COMMUNICATIONS AND INFORMATION YAACOB IBRAHIM

Singapore is setting up its first cyber-security start-up incubation hub, with funding to be provided for new inventions, as the country strives to carve out a role for itself in the new digital economy.

Dubbed Innovation Cybersecurity Ecosystem @Block 71 (ICE71), the hub will open its doors to cyber-security entrepreneurs next month.

It will be located in a cluster of industrial buildings in Ayer Rajah Crescent known affectionately and collectively as “Block 71”. The area is currently home to about 700 technology start-ups.

The aim is to hand-hold aspiring entrepreneurs to ensure their business ideas are sound, and to ensure they have the necessary financial and business know-how to take their ideas to the next step. Help will also be given for expansion to overseas markets and access to venture funding.

The Infocomm Media Development Authority (IMDA) and Singapore’s Cyber Security Agency (CSA) are working with Singtel and the National University of Singapore (NUS) to launch ICE71.

The hub will be located within the existing premises of Singtel’s corporate venture arm Innov8 and NUS Enterprise at Block 71, and seeks to groom up to 100 entrepreneurs and 40 start-ups over the next two years.

Minister for Communications and Information Yaacob Ibrahim announced these moves during the debate on his ministry’s budget yesterday.
BOOSTING NATIONAL CYBER SECURITY

A vibrant cyber-security ecosystem is an important factor contributing to robust national cyber security.

MINISTER FOR COMMUNICATIONS AND INFORMATION YAACOB IBRAHIM
“A vibrant cyber-security ecosystem is an important factor contributing to robust national cyber security,” said Dr Yaacob, agreeing with Mr Zaqy Mohamad (Chua Chu Kang GRC) and addressing a point made by Ms Sun Xueling (Pasir Ris-Punggol GRC) that Singapore’s connectedness exposes it to attacks.

Separately, CSA will also roll out a new funding scheme to spur developments that would meet national security needs, believing that innovation is the key to stay ahead in the arms race against cyber attackers.

The areas of focus include forensics, authentication, the Internet of Things and managed security services.

Funding of up to $500,000 will be provided to qualifying projects by Singapore-registered companies. At least 50 per cent of the manpower employed in the project must be Singaporeans or Singapore permanent residents.

The aim is to develop home-grown companies that could own a slice of the lucrative cyber-security market, tipped to attract spending of US$105 billion (S$138 billion) by 2020, according to global estimates by market research firm IDC.

Singapore’s cyber-security market could generate $900 million in revenue by 2020, said Dr Yaacob.

“Cyber security is also a growth engine,” he said, acknowledging Mr Cedric Foo’s (Pioneer) point that technology talent is needed to propel Singapore’s economic expansion in the digital realm.

To prepare the workforce, IMDA will invest an additional $145 million in its technology skills development and job placement initiative, dubbed TechSkills Accelerator (Tesa), over the next three years.

This will create 20,000 training places by 2020, with a focus on company-led courses and emerging areas such as cyber security, data analytics, artificial intelligence (AI) and the Internet of Things.

Since its inception in April 2016, Tesa has trained 27,000 professionals in new technology skills to prepare them for the digital economy. Some $120 million has been spent to date.

To Dr Teo Ho Pin’s (Bukit Panjang) question on regulations to ensure accountability for new developments such as AI, Dr Yaacob said: “Currently, we have no plans to introduce regulations for AI applications as the field is still nascent and (we want) to avoid stifling innovation.”

The Ministry of Communications and Information will also be deferring the review of the Broadcasting Act to study in detail how digital technologies and social media platforms have come together to increase the risk of fake news, Dr Yaacob said in his reply to Mr Ong Teng Koon’s (Marsiling-Yew Tee GRC) question on the challenges brought about by such convergence.

Dr Yaacob added: “As Parliament has just appointed the Select Committee on Deliberate Online Falsehoods to examine the issue, it would be better to study the Select Committee’s recommendations first before making further moves.”

Content retrieved from: https://www.straitstimes.com/politics/cyber-security-start-up-hub-to-groom-entrepreneurs.

In Singapore, a cyber security startup hub will produce new ideas, talents

When it comes to cyber security, you either have it or you don’t. Much like jogging, you have to keep practising constantly. You have to keep fit to stay the pace.

So, the news that Singapore is opening an incubation hub to help grow and groom startups in cyber security is a welcome one. It is another step forward in growing a much-needed talent pool here.

This Innovation Cybersecurity Ecosystem @Block 71 (or ICE71) is a mouthful to pronounce, but when it opens next month at Ayer Rajah Crescent, it will start attracting entrepreneurs with ideas on tackling the next big cyber threats.

Each qualified startup could be funded with up to S$500,000 to develop their technologies, which should focus on forensics, authentication, the Internet of Things and managed security services.

These are familiar areas but the work from small startups could help fill the gaps that larger security firms may have missed, or identify a future need that they can focus on more quickly.

In a field that’s changing constantly, you cannot rely on the same old knowledge and tactics, or even large companies that grow too big and slow to evolve fast enough to respond to the latest threats.

The cyber security startup hub, which is backed by the Infocomm Media Development Authority, Cyber Security Agency (CSA), Singtel and the National University of Singapore, wants to groom 100 entrepreneurs and 40 startups over the next two years.

Minister for Communications and Information Yaacob Ibrahim, who unveiled the plans yesterday as part of his ministry’s budget debate, pointed to the ecosystem as an important factor in Singapore’s cyber security.

This is the right approach against anonymous threats that could come from anywhere. Whether they are small contractors backed by governments or independent hacker groups with their own ideology, the best defence is to draw on the collective knowledge of a large pool of experts.

For the cyber security startup hub, the number of startups that “make it” to the market and post a large profit may not even be the most important. Rather, the impact they will have in terms of being at the forefront of this fast-moving sector is more crucial.

It may have taken high-profile hacking cases in the past five years for Singapore to finally move to this point, but the direction taken now is the right one.

This cyber security startup hub would complement existing efforts to boost expertise in a field that was sorely lacking because the coding and technical skills needed had been given up by many for seemingly higher-paying jobs in project management in the decade before.

Today, it is heartening to find mid-career folks training to be white-hat hackers in Singapore. Just as well that the private sector is also boosting the talent pool, like how Singtel is working with students to pick up the fundamentals of cyber security through an online portal.

Unlike big infrastructure projects, this is one endeavour that cannot be accomplished through government spending.

Cyber security is a field that requires exposure to real-world situations, so practitioners can build the experience needed to identify and face future threats.

And just like keeping fit, it has to be an ongoing process. The moment you stop training, you will not be able to keep up with the pace set by other runners.

Content retrieved from: https://www.techgoondu.com/2018/03/07/in-singapore-grooming-cyber-security-startups-will-reap-long-term-rewards/.

Innovations wanted: 1st cybersecurity-focused accelerator in Singapore to be launched

IMDA and CSA, collaborating with Singtel Innov8 and NUS, will set up the Innovation Cybersecurity Ecosystem at Block 71 (ICE71) at Ayer Rajah Crescent.

SINGAPORE: Singapore’s first cybersecurity-focused accelerator programme will be launched by the Infocommunications Media Development Authority (IMDA) and the Cyber Security Agency (CSA), in partnership with private sector entities like the National University of Singapore (NUS) and Singtel’s Innov8 venture capital fund.

This was announced by Minister for Communications and Information Yaacob Ibrahim during his ministry’s Committee of Supply debates in Parliament on Tuesday (Mar 6).

According to the ministry’s press release, the start-up hub is called the Innovation Cybersecurity Ecosystem at Block 71 (ICE71) and will be located at Innov8 and NUS’ co-working area at 71 Ayer Rajah Crescent. It aims to help grow cybersecurity innovation in the areas of cybersecurity entrepreneurs, start-ups, accelerators and cybersecurity-focused risk capital, it added.

ICE71, teaming up with Europe’s cybersecurity accelerator Cylon, will offer three programmes: Pre-accelerator bootcamp, accelerator training programme and landing pad for start-ups at various phases of ideation and development.

The bootcamp will be a five-day programme to help participants kick-start their entrepreneurial aspirations by turning their ideas into workable business models. It will be targeted at individuals from academia and industry, giving them the opportunities to network with potential co-founders and get insights from other industry experts, MCI said.

The accelerator training programme, meanwhile, is a three-month stint for early-stage start-ups when they will get access to talent, mentors, funding and local ecosystem events. It will equip them with knowledge in areas such as product design, scaling their businesses and securing investments, the press release said.

As for the landing pad, this is meant for later-stage start-ups, so they will have access to complimentary working space, testing facilities, regional markets and corporate support services. This, the ministry said, will help them scale in size and go to market sooner.

In all, the programme aims to train up to 100 individuals and accelerate up to 40 start-ups over two years. Singtel and NUS said in a separate press release on Tuesday that ICE71 will be opening in April this year, and those interested can find out more on ICE71.sg.

This initiative would also lend itself to other developments aimed at developing the country’s cybersecurity ecosystem.

One of these is the announcement of the Cyber NSF scheme as well as the Cyber Specialist Award, which is a work-learn programme for qualified NSFs to embark on a short-term contract with the Ministry of Defence and earn credits that would go towards an undergraduate degree at the Singapore Institute of Technology.

These skilled national servicemen, who might have intentions to develop their own cybersecurity services or products, could possibly tap on the accelerator to do so, Channel NewsAsia understands.

FUNDING FOR CYBERSECURITY PROJECTS

In addition to ICE71, Dr Yaacob also announced that CSA will introduce a Co-Innovation and Development Proof of Concept funding scheme for cybersecurity projects with the intention of catalysing innovative solutions to meet national and strategic needs, with a view for commercial application.

The scheme, to be managed by CSA, will focus on several aspects:

  • Managed security services
  • Consulting services such as governance, risk and compliance (GRC) and forensic services
  • Internet of Things (IoT) security
  • Identity, authentication and access management
  • Cyber physical systems

The ministry said all Singapore-registered companies that are able to secure commitment from at least one security end-user can apply for the scheme, and CSA will provide funding support up to a maximum of S$500,000 for qualifying costs.

“Solutions from this scheme would help meet national cybersecurity demands, build and anchor advanced capabilities in Singapore, as well as aid the growth of local cybersecurity products and solutions,” MCI said.

Content retrieved from: https://www.channelnewsasia.com/news/singapore/innovations-wanted-1st-cybersecurity-focused-accelerator-in-10016638.