EU plans $2B investment in cybersecurity research

The European Commission wants industry to contribute three-quarters of the cash

The European Union is stumping up €450 million ($500 million) to fund research into cybersecurity -- and wants industry to contribute three times that.

The EU's executive body, the European Commission, is concerned about the vulnerability of the EU economy to cyberattacks, warning in a report Tuesday that they "could undermine the digital single market and economic and social life as a whole."

The $2 billion cybersecurity public-private partnership (cPPP) is intended boost cross-border research into cybersecurity, and to aid development of security products and services for the energy, health, transport and finance industries, the European Commission said Tuesday.

It's not the Commission's first attempt to coordinate EU member states' cybersecurity strategies. The creation of the EU agency for network and information security (ENISA), the computer emergency response team (CERT-EU) and Europol's European Cyber Crime Centre (EC3) are already steps in this direction.

The Commission is also working on the Network and Information Security Directive. This will require EU member states to identify essential infrastructure operators in the energy, transport, finance, health and communications sectors, and ensure that they address the risk of cyberattack.

By developing the cybersecurity industry in Europe, the Commission also hopes to profit from others' digital insecurity. Delivering the highest level of cybersecurity could become a strong competitive advantage, the Commission noted, as security is one fo the fastest-growing IT activities worldwide.

For now, though, the EU's IT security industry is ill-equipped to look beyond its borders -- or even beyond national borders, the Commission said: It is still too geographically fragmented to compete globally.

The cPPP should be up and running by the third quarter, and accepting bids for its research funding early next year.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Peter Sayer

IDG News Service
Show Comments

Father’s Day Gift Guide

Brand Post

PC World Evaluation Team Review - MSI GT75 TITAN

"I need power and lots of it. As a Front End Web developer anything less just won’t cut it which is why the MSI GT75 is an outstanding laptop for me. It’s a sleek and futuristic looking, high quality, beast that has a touch of sci-fi flare about it."

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Luke Hill

MSI GT75 TITAN

I need power and lots of it. As a Front End Web developer anything less just won’t cut it which is why the MSI GT75 is an outstanding laptop for me. It’s a sleek and futuristic looking, high quality, beast that has a touch of sci-fi flare about it.

Emily Tyson

MSI GE63 Raider

If you’re looking to invest in your next work horse laptop for work or home use, you can’t go wrong with the MSI GE63.

Laura Johnston

MSI GS65 Stealth Thin

If you can afford the price tag, it is well worth the money. It out performs any other laptop I have tried for gaming, and the transportable design and incredible display also make it ideal for work.

Andrew Teoh

Brother MFC-L9570CDW Multifunction Printer

Touch screen visibility and operation was great and easy to navigate. Each menu and sub-menu was in an understandable order and category

Louise Coady

Brother MFC-L9570CDW Multifunction Printer

The printer was convenient, produced clear and vibrant images and was very easy to use

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Featured Content

Product Launch Showcase

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?