Greater access to finance is needed to help Irish and European companies to scale rapidly, according to Cyber Ireland.
US cybersecurity start-ups raise up to four times as much funding as their European counterparts, according to Cyber Ireland cluster manager Eoin Byrne.
He told SiliconRepublic.com at a June event that this “significant funding gap” is compounded by the ongoing skills shortage in the cybersecurity sector, making it hard for start-ups in this space to find the right talent for growth.
This is why Cyber Ireland teamed up with Enterprise Ireland, the European Cyber Security Organisation and the Women4Cyber Foundation to hold a Cyber Investor Days event.
“This matchmaking event is critical to provide access to finance, and access to markets, for Irish and European companies to scale rapidly, increase sales and serve larger clients,” Byrne said.
According to Kevin Buckley, senior development adviser in Enterprise Ireland’s high-potential start-ups division, cybersecurity companies and start-ups in Ireland collectively employ more than 6,500 people.
“While putting a spotlight on Ireland’s cybersecurity strengths, Cyber Investor Days provides a great platform for European cyber companies to connect with investors and new corporate customers,” he said.
Words by Vish Gain
