Ontario Supporting More Innovation in Cybersecurity
New Cybersecurity Excellence Initiative will bring new cybersecurity technology to Ontario businesses and boost innovation
August 28, 2023
Economic Development, Job Creation and Trade
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OTTAWA — The Ontario government is investing up to $5 million to help Canadian Cyber Threat Exchange (CCTX) launch the Ontario Cybersecurity Excellence Initiative that will help Ontario companies develop and adopt cybersecurity technologies that enhance data security and protect company assets from cyber threats and other advanced technologies. Developing and adopting critical technologies like cybersecurity will increase Ontario’s competitiveness around the world and create highly skilled jobs in the province’s growing tech sector.
“Ontario is one of the largest tech hubs in North America and critical technologies like cybersecurity fuel and drive made-in-Ontario innovation as companies include new technologies in their products,” said Vic Fedeli, Minister of Economic Development, Job Creation and Trade. “Our government is proud to support CCTX’s work to help businesses across the province develop and adopt new-generation cybersecurity technology so they can become more competitive, grow and create more good-paying jobs.”
CCTX, a not-for-profit, cyber-threat sharing hub and collaboration centre, will receive up to $5 million through the province’s Critical Technology Initiatives program to launch the new Ontario Cybersecurity Excellence Initiative in partnership with Rogers Cybersecure Catalyst, Toronto Metropolitan University’s national centre for training, innovation and collaboration in cybersecurity. The initiative will provide training and support to entrepreneurs and small and medium-sized businesses developing and adopting cybersecurity solutions and will empower Ontario-based technology startups to solve key cybersecurity-related challenges.
“CCTX is delighted to join forces with the Catalyst to launch the Ontario Cybersecurity Excellence Initiative,” said Jennifer Quaid, Executive Director of CCTX. “This partnership is a unique opportunity to pool our expertise, resources and networks within the cybersecurity ecosystem to help foster a technologically advanced economy in Ontario, secured by best-in-class cybersecurity products and processes.”
The province’s $107 million Critical Technology Initiatives funding supports programs led by not-for-profit organizations to accelerate the use of critical technologies by Ontario companies and enable the development and adoption of innovative made-in-Ontario solutions. Critical technologies, such as 5G, ethical artificial intelligence, blockchain, cybersecurity and robotics, will help Ontario companies increase productivity, open new revenue streams, create highly skilled jobs and enhance global competitiveness.
- Ontario has one of the largest information and communications technology (ICT) sectors in North America and is home to over 400,000 ICT workers. Ontario’s technology sector is centred around the Toronto, Waterloo and Ottawa regions.
- Ontario has more than 340 small and medium-sized businesses focused on cybersecurity with notable clusters in the Ottawa region, Toronto and Kitchener-Waterloo.
- Cybersecurity is expected to contribute (US) $400 billion to the global economy by 2027.
- As part of the 2023 Ontario Budget, Ontario is providing an additional $1 million per year for three years to Invest Ottawa to expand into a Regional Innovation Centre hub for Eastern Ontario and offer its extensive range of programs and services to help businesses launch, grow and succeed to the region.
“Cybersecurity is an integral aspect of Ontario’s technology sector, which is why I’m thrilled to support our government’s investment of $5 million towards the Canadian Cyber Threat Exchange, assisting Ontario companies develop cybersecurity technologies. As part of the 2023 Ontario Budget, Ontario is providing an additional $1 million per year for three years to Invest Ottawa to expand into a Regional Innovation Centre hub for Eastern Ontario. With one of the largest information and communications technology sectors in North America, Ontario is home to over 400,000 ICT workers, and we are proud to contribute to this growing sector.”
– Lisa MacLeod
Member of Provincial Parliament — Nepean
“This investment of $5 million to support the Canadian Cyber Threat Exchange will not only strengthen the local economy with the creation of highly-skilled jobs, but it will also position Ottawa and Ontario as global leaders in cybersecurity. The Ontario government’s commitment to cybersecurity will be beneficial to all Canadians and their businesses while ensuring that Ontario’s entrepreneurs and innovators are rewarded for their efforts.”
– Goldie Ghamari
Member of Provincial Parliament — Carleton
“Toronto Metropolitan University is proud to be at the forefront of driving training, innovation and collaboration in cybersecurity. We are immensely grateful to the Government of Ontario and Rogers Communications, whose support will bring to market this groundbreaking initiative, which will protect the province’s critical sectors, spark innovation and drive Ontario’s global competitiveness in cybersecurity.”
– Dr. Mohamed Lachemi
President of Toronto Metropolitan University
“As a global tech hub with the highest tech talent concentration in North America, the Ottawa Region is home to more than 100 cybersecurity and related companies. This cluster is internationally recognized for specialized cyber expertise, products, and solutions in areas such as encryption, identity and access management, and vulnerability defence. This CTI project will further strengthen Ottawa’s contribution to this sector, our provincial economy and the global market.”
– Michael Tremblay
President and CEO, Invest Ottawa
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