Ireland can be cybersecurity capital of the world – report

24 Feb 2016

Adding to its tech portfolio, in a somewhat more niche way, a new report claims that Ireland could become a major hub for cybersecurity companies.

Developing a “cluster” of cybersecurity businesses, attracting FDI from far and wide, Deloitte’s latest report finds that Ireland sits alongside major international players with regards FDI when it comes to cybersecurity.

While the US and UK stand out as the primary locations that firms target, Ireland is placed alongside the likes of Israel, Canada, Australia and India in terms of suitability.

The cyber opportunity analysis found that Ireland has already proven itself to be an innovative technology hub, and this is another area in which it can become a global leader.

Regulation changes, the evolution of scams and growth in identity thefts are expected to dominate the area in the next few years, with particular locations around the world “preferred for establishing centres of excellence”.

All to play for

“The good news is that there appears to be no dominant jurisdiction for FDI, so it’s all to play for right now,” said Deloitte’s Colm McDonnell. “This analysis shows that Ireland has a real opportunity to be at the forefront of cybersecurity.”

Deloitte – which worked with the International Sustainability and Investment Centre on the report – argues that getting the talent stream going, focusing on third level education, is key.

Other things, like tailored incubation centres for start-ups, “access to capital” and overall marketing of the country as a prime location will also be important.

Access to the requisite talent pool, the cluster effect of related businesses, the ease of doing business and links to colleges were major factors for companies in locating a cyber business.

Weirdly, when asked to rate Ireland as a base for cybersecurity, respondents to the survey found skills both a positive and negative factor. Deloitte suggests this could mean there are talented people here to fill positions, but not enough.

What would be cool would be an area outside of Dublin becoming a cluster for this area – much like the west of Ireland in relation to medtech and pharma.

Image of Dublin via Shutterstock

Gordon Hunt was a journalist with Silicon Republic