EU steps up efforts to tackle cyber threats

The Commission has launched a new public-private partnership with the non-profit European Cyber Security Organisation (ECSO) on cyber-security that is expected to trigger US$2 billion (€1.8 billion) of investment by 2020. This is part of a series of new initiatives to better equip Europe against cyber-attacks and to strengthen the competitiveness of its cyber-security sector. The EU plans to invest US$500 million (€450 million) under its research and innovation (R&I) programme Horizon 2020, with the rema
July 7, 2016 Read time: 2 mins
The Commission has launched a new public-private partnership with the non-profit European Cyber Security Organisation (ECSO) on cyber-security that is expected to trigger US$2 billion (€1.8 billion) of investment by 2020. This is part of a series of new initiatives to better equip Europe against cyber-attacks and to strengthen the competitiveness of its cyber-security sector.

The EU plans to invest US$500 million (€450 million) under its research and innovation (R&I) programme Horizon 2020, with the remainder coming from the private sector.

Cyber-security market organisations, represented by the European Cyber Security Organisation (ECSO), are expected to invest three times more.

This partnership will also include members from national, regional and local public administrations, research centres and academia. The aim of the partnership is to foster cooperation at early stages of the research and innovation process and to build cyber-security solutions for various sectors, such as energy, health, transport and finance.

According to a recent survey by Price Waterhouse Coopers, at least 80 per cent of European companies have experienced at least one cyber-security incident over the last year and the number of security incidents across all industries worldwide rose by 38 per cent in 2015. As part of its Digital Single Market strategy the Commission wants to reinforce cooperation across borders, and between all actors and sectors active in cyber-security, and to help develop innovative and secure technologies, products and services throughout the EU.
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