New York City Economic Development Corporation (NYCEDC) today unveiled its plans to transform New York City from Harlem to Hollis into a global leader of cybersecurity innovation and talent to combat one of the world’s greatest threats. Cyber NYC, the City’s initiative to grow the cybersecurity sector, will leverage a roster of world-renowned partners to launch a Global Cyber Center, an innovation hub for startups, initiatives to fuel commercialization and research, and new talent pipelines to train the cyber workforce of the future.
“New York City needs to be ambitious about cybersecurity because our future depends on it. Cyber NYC will fuel the next generation of cybersecurity innovation and talent, leveraging one of the world’s greatest threats to create a major economic anchor and up to 10,000 quality middle-class jobs,” said NYCEDC President and CEO James Patchett. “We’ve convened a world-class roster of partners to help us execute on this essential plan, which will help protect the industries and people that make this city the economic powerhouse that it is today.”
Cybersecurity attacks occur every 40 seconds across the globe, with over 3.8 billion internet users being affected by cyber-attacks in 2017. This extreme threat has created a growing demand for new products and cybersecurity talent. The cybersecurity talent gap will grow to an estimated 3.5 million unfilled jobs by 2021.
With key industries in finance, healthcare, retail, and media – all major targets of cybersecurity attacks and the largest buyer-base of cybersecurity products – New York City has both a need and an opportunity to fuel homegrown innovation and talent. Cyber NYC is expected to catalyze the growth of 10,000 good-paying cybersecurity jobs over the next decade and is a key component of Mayor de Blasio’s New York Works Plan.
Cyber NYC will be fueled by a $30 million City investment, leveraging up to an additional $70 million from private funding. The robust initiative includes the following distinct, yet connected efforts:
Creating a Center of Gravity for Cyber
Global Cyber Center: NYCEDC has selected Israeli corporate innovation expert, SOSA, to establish a center of gravity for the industry. The 15,000-square-foot, state-of-the-art center in Chelsea will bring together an international community of corporations, investors, startups, and talent to foster collaboration and innovation in New York City’s growing cybersecurity ecosystem. Located at 17th Street and 7th Avenue, the center will offer industry-specific events, and programming, as well as co-working space for startups and a cyber range, a virtual testing ground to run simulations.
Scaling, Attracting the Next Generation of Cyber Companies
Hub.NYC by JVP: NYCEDC has selected renowned international venture capital firm Jerusalem Venture Partners (JVP) to establish the city’s first international cybersecurity investment hub and create the next billion-dollar opportunity in cybersecurity. Functioning out of a 50,000-square-foot space located in SoHo, this dynamic program will support growth-stage startups, facilitating access to clients, business support, and investment, with the goal of growing them into major cybersecurity companies in New York City.
Inventors to Founders: NYCEDC has selected Columbia University to connect academic inventors of patented cybersecurity technologies with experienced entrepreneurial talent to launch new cybersecurity startups, accelerating innovation and commercialization. It will also provide acceleration resources such as mentorship, training, and validation capital to launch more and stronger early-stage academic startups as quickly as possible.
Developing a Workforce of the Future
Applied Learning Initiative: NYCEDC has selected CUNY, NYU, Columbia, Cornell Tech, and iQ4 to train the next generation of cyber specialists through new certifications and degree programs for New Yorkers. It will provide degree-seeking students with real-world, case-method education about cybersecurity and job-placements, including a new one-year CUNY Master’s program in collaboration with Facebook and a stackable credentials program across multiple universities, which will be hosted exclusively on the global online learning platform, edX.org.
Cyber Boot Camp: NYCEDC has selected industry-leading software development school Fullstack Academy and CUNY’s LaGuardia Community College (LAGCC), which has one of the largest tech training programs in the region, to prepare New Yorkers for good-paying job opportunities in cybersecurity. Fullstack Academy will lead an intensive boot camp in industry-specific cybersecurity competencies. Adults with minimal familiarity with cybersecurity will be placed in a six-week preparatory course at LAGCC, where participants will learn the basics of industry software and terminology, before continuing onto the Fullstack boot camp. The Cyber Boot Camp will place over 1,000 students in jobs that have an average starting salary of $65,000 over the first three years of the program. Click here for information.
Working with Industry Leaders
Cyber NYC and its program operators will be supported by an enthusiastic and diverse array of industry partners, focused on growing New York City’s cybersecurity industry. Among the most notable are:
- Goldman Sachs, whose Chief Operational Risk Officer Phil Venables and Chief Information Security Officer Andy Ozment have agreed to serve on Cyber NYC’s key advisory boards, lending their expertise to advise on the overall direction of the initiative.
- PricewaterhouseCoopers has committed to hiring students from Cyber NYC’s talent programs.
- MasterCard has committed to be a partner of the Cyber Boot Camp and to hiring graduates of the program.
- Facebook has committed to co-developing a new master’s degree program with CUNY.
- And, edX.org, which has committed to hosting the Stackable Credentials Program on their global learning platform.
The city’s current cybersecurity industry has a strong foundation with over 100 firms and 6,000 employees. In 2017 alone, the city received over $1 billion in cybersecurity-related venture capital funding. Innovations in cybersecurity help our legacy companies compete, and the industry itself is a hotbed for high-paying and accessible jobs, with over 95% paying over $50,000.
“Cybersecurity has never been more important to the pillars of New York’s economy – sectors like finance, healthcare, media, and technology – and it will only grow more crucial,” said Manhattan Borough President Gale A. Brewer. “You only have to open a newspaper to see how vast the need for cybersecurity is today. Investing in this industry is timely, it plays to New York’s strengths, and it will deliver a real return.”
“New York City must stand at the forefront of innovation and initiatives in the rapidly growing field of cybersecurity. We have the unique ingredients to become a global leader in this sector,” said Council Member Vallone, Chair of the Committee on Economic Development. “Combining public and private funding, the CyberNYC initiative will also play an integral role in creating thousands of new jobs and career paths which will further boost our city’s economy. I applaud the EDC’s leadership and vision and look forward to continue working with them to support initiatives that build on our strengths and provide more opportunities for New Yorkers.”
“As global leaders on the counterterrorism front, the City that never sleeps is the perfect place for the cybersecurity industry to take root. Our Chelsea cyber center will stand out by adding even more jobs, talent and innovation to our growing tech-savvy city. Thank you to the NYCEDC and all our partners for continuing the push to transform NYC into the latest and greatest center for tech innovators,” said Council Member Peter Koo.
“We’re convinced that New York City, the world capital of finance and media, will soon emerge as the new global hub for cybersecurity,” said Erel Margalit, Founder and Chairman of JVP. “If the West Coast is the U.S technology hub, New York can become the international technology Hub in close partnership with Israel and the international community to build the next generation of cybersecurity companies to counter the new threats.”
“We are excited and honored to have been chosen by the EDC to run the Global Cyber Center,” says Uzi Scheffer, SOSA CEO. “The Global Cyber Center will serve as a center of gravity for the entire cybersecurity industry and will connect to the finest talent from New York, the States, Israel and our entire global network. SOSA has a long history of forging strong partnerships by bringing together entrepreneurs and technologies to drive solutions, and we look forward to doing the same for the cyber community as we grow our New York City presence. We will see partnerships formed, pilot projects launched and strategic investments made that will positively impact New York and the world.”
“EDC’s CyberNYC initiative establishes a new partnership positioned to powerfully combine expertise in technology and business innovation, education, job growth, and community collaboration to help fuel our City’s forward progress in the rapidly growing industry of cybersecurity,” said Geoff Brown, New York City Chief Information Security Officer and Head of NYC Cyber Command.”I look forward to witnessing and participating in CyberNYC in any and all ways through which it contributes to the safety of our City’s digital future.”
“We are extremely excited to be collaborating with NYCEDC on this exciting and important initiative,” said Orin Herskowitz, Executive Director of Columbia Technology Ventures. “Columbia University has a long and successful track record of translating its inventions into products and services that improve lives, create jobs, and benefit society. Last year alone, 28 startup companies were formed based on research emerging from Columbia’s labs across fields such as cybersecurity, machine learning, photonics, media, biotechnology, medical devices, tissue engineering, and more. We look forward to collaborating with CUNY, Cornell Tech, and NYU to help launch more and stronger cybersecurity startups, faster than ever, based on these university innovations.”
“I am proud that CUNY has a key seat at the table for this vitally important citywide effort,” said Interim CUNY Chancellor Vita C. Rabinowitz. “Because of our vast reach and unparalleled ability to scale educational opportunities to the needs of so many different types of students, CUNY is uniquely positioned to build bridges with industry and equip large numbers of diverse students for jobs combating these ever-evolving threats.”
“Fullstack is extremely proud and excited to be part of CyberNYC – a much needed literal and figurative ‘Manhattan Project’ for cybersecurity. New York City and the EDC’s goals of providing industry-driven training and career pathways for New Yorkers are core to Fullstack’s values and mission and an amazing example of the wholistic support that NYC provides for industries here – programs like these go a long way towards the long-term security and health of all NYC residents and businesses,” said David Yang, Co-Founder of Fullstack Academy.
“The exponential growth in sophisticated cybersecurity attacks and their intensity is putting our country, our people and our assets at risk² said Frank Cicio, founder and chief executive officer, iQ4.” Millions of jobs will go unfilled globally. NYC is the Financial Capital of the world and most at risk. As a Queens native, there could not be a better place on the planet to solve this epic challenge. iQ4 has cracked the code on mobilizing education and industry by implementing industry driven virtual apprenticeships at scale that will close the skills gap for thousands of New York students. We are thrilled to work with the City of New York, EDC leadership and CyberNYC’s visionary partners to showcase the world a new approach to learning. iQ4 will help transform the learning economy, and collaborate to scale the workforce of the future.”
“LaGuardia Community College is proud and ready to join this bold initiative that seeks to make NYC a center for combatting cyber threats. Cyber NYC provides a route into the well-paying, in-demand field of cybersecurity for our low-income or otherwise disadvantaged students—enabling them to make better lives for themselves and their families while allowing students with an aptitude for computer technology to put their passion to work,” said LaGuardia Community College President Gail O. Mellow. “With our experience teaching tech—more than 3,500 New Yorkers come through our technology programs each year—our faculty is ready to help students prepare for an intensive cybersecurity boot camp.”
“Today’s cybersecurity environment is more intricate and complex than ever before, and presents itself to companies, organizations and individuals alike,” said Sean Joyce, PwC US Cybersecurity & Privacy Leader. “To combat this ever-evolving threat landscape, it’s important that we invest in developing skilled professionals, innovative approaches, and build collaboration across the public and private sector to thwart potential attacks and build stronger resiliency.”
“As a nonprofit company committed to providing stackable and accessible online education in subjects that address today’s critical global skill gap, edX is excited to join the groundbreaking Cyber NYC initiative. We look forward to working with CUNY, NYU, Columbia and Cornell Tech to develop innovative online learning pathways that lead to real career outcomes,” said Anant Agarwal, edX CEO and MIT Professor.
“Through this collaboration with NYEDC and leading industry partners, we are proud to offer New Yorkers and global learners resources that allow them to gain the knowledge and skills needed to join the fast-growing cybersecurity workforce.”
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