NYC wants to build a cyber army
New York City is a global center of finance, real estate, legal services, technology, and many, many more industries. It hosts the headquarters of roughly 10% of the Fortune 500, and the metro's GDP is roughly equivalent to that of Canada.
So much wealth and power, and all under constant attack. The value of technology and data has skyrocketed, and so has the value of stealing and disrupting the services that rely upon it. Cybercrime and cyber wars are adding up: according to a report published jointly between McAfee and the Center for Strategic and International Studies, the costs of these operations are in the hundreds of billions of dollars - and New York's top industries such as financial services bear the brunt of the losses. Yet, New York City has hardly been a bastion for the cyber security industry. Now, NYC's leaders are looking to build a whole new local empire that might just act as a bulwark for its other leading ecosystems.
Today, the New York City Economic Development Corporation (NYCEDC) announced the launch of Cyber NYC, a $30 million "catalyzing" investment designed to rapidly grow the city's ecosystem and infrastructure for cyber security.
James Patchett, CEO of NYCEDC, explained in an interview that cyber security is "Both an incredible opportunity and also a huge threat." The Cyber NYC program is made up of a constellation of programs which includes the following:
Partnering with SOSA, the city will create a new, 15,000 square foot Global Cyber Center co-working facility in Chelsea, where talented individuals in the cyber industry can hang out and learn from each other through event programming and meet ups.
With Fullstack Academy and Laguardia Community College, a Cyber Boot Camp will be created to enhance the ability of local workers to find jobs in the cyber security space. Through an "Applied Learning Initiative," students will be able to earn a "CUNY-Facebook Master's Degree" in cyber security. The program has participation from the City University of New York, New York University, Columbia University, Cornell Tech, and iQ4.
With Columbia University's Technology Ventures, NYCEDC will introduce a program called Inventors to Founders that will work to commercialize university research.