Minister Gething during his visit to PureCyber
Today marks a significant milestone in the realm of cybersecurity as the Welsh Government, in collaboration with PureCyber and Swansea University, unveils a pioneering initiative aimed at bolstering cybersecurity measures for Small and Medium Enterprises (SMEs) across Wales.
Recognising the critical need to fortify cybersecurity defences for SMEs, the Smart Partnership between the Welsh Government, PureCyber, and Swansea University is designed to address the existing barriers hindering SMEs from accessing robust cybersecurity solutions.
This innovative collaboration guided by Welsh Government brings together the expertise of PureCyber, a leading cybersecurity solutions provider, and the academic excellence of Swansea University. Carrying out in-depth research, and leveraging cutting-edge technologies, expertise and strategic insights, the partnership aims to identify cyber security improvement barriers and offer SMEs an accessible multi-layered approach to cybersecurity.
“Small and Medium Enterprises form the backbone of our economy, and safeguarding them against cyber threats is imperative,” stated Vaughan Gething MS, Minister for Economy, Welsh Government. “This partnership signifies our commitment to empowering SMEs with accessible, advanced cybersecurity measures, enabling them to thrive in an increasingly digital landscape.”
PureCyber, renowned for its expertise in cybersecurity solutions for businesses of all sizes, will now develop and launch a suite of services tailored to the specific needs of SMEs. This includes customisable subscription models, proactive threat monitoring, and rapid incident response mechanisms all mapped to the minimum standards required to be able to acquire cyber insurance.
Swansea University, will contribute to the project through several academics (Professors Baris Soyer and George Leloudas, Ms Angela Nicholas and Ms Gosia Kupiec) providing academic guidance on cyber risk insurance, building on the research they undertook previously; namely Cyber Risk Insurance Building Resilience in Wales funded by HEFCW. Additionally, the university will collaborate on educational initiatives aimed at raising awareness and providing training opportunities for SMEs to bolster their cybersecurity resilience.
“This strategic alliance signifies a new era in cybersecurity for SMEs,” said Damon Rands, CEO, PureCyber. “By integrating our expertise with Swansea University’s research capabilities, we aim to overcome the barriers to entry that small businesses face. Providing SMEs with comprehensive solutions that mitigate their risk and also foster a proactive approach to cybersecurity. Our mission is to make cyber security accessible, affordable and understandable for all.”
The collaboration will also introduce unique components to overcome barriers that small businesses face, offering SMEs tailored options to mitigate financial, disruption and reputational risks associated with cyber incidents providing SMEs with multiple layers of protection and increased peace of mind.
“As a research-driven institution, Swansea University is proud to contribute to this innovative initiative,” stated Gosia Kupiec, Smart Partner Research Associate at Swansea University. “Our joint efforts will not only bolster cybersecurity measures for SMEs but also contribute valuable insights and education, ensuring a sustainable and resilient digital ecosystem.”
The Smart Partnership between the Welsh Government, PureCyber, and Swansea University marks a pivotal step towards democratising advanced cybersecurity measures for SMEs across Wales. This collective effort signifies a commitment to fostering a secure digital environment, empowering SMEs to thrive in an era of evolving cyber threats and strengthening the security of the Nation.
Professor Soyer and Angie Nicholas presenting in Cardiff the results of their research that indicated that a more integrated approach between cyber security and insurance cover needs to be established. Their research has recently been published in the Edinburgh Law Review.