Cybersecurity in the European Union faces two major challenges: on the one hand, the lack of investors committed to the sector -which pushes the companies of the European conglomerate to seek financing outside the continent-. And the need to have and hire truly qualified workers in online security.
This is what highlights the report European Cybersecurity Investment Platform, prepared by the European Commission and the European Investment Bank (EIB), and which has had the support of the European Investment Advisory Hub. Both challenges, says the report, are essential not only for the security of the companies themselves, but also to help them grow sustainably.
The Report’s Proposals
This writing proposes a series of recommendations through additional financial mechanisms. As well as the need to design an investment platform that helps the cybersecurity sector in order to end these financial problems. And that, in addition, help with it to a greater economic development in the European Union.
The European Cybersecurity Investment Platform report shows a reality that is much less striking. Many small companies in the EU are acquired by companies from outside the EU, with what this implies in terms of retention of talent and innovation in the Union itself. Also the exorbitant public spending that is not reflected in European cybersecurity.
The lack of strategies, actions and programs by governments is a worrying issue. Far from how other countries like the US act, which are much more concerned about cybersecurity than the countries of the old continent. Therefore, having constant support for the growth of the European cybersecurity market becomes essential to further boost the constant annual growth of the EU.
The report highlights how the impact of recent geopolitical events Around the world and in Europe in particular, the importance of protecting both physical and virtual assets has increased. In this context, the virtual world has become a growing source of sophisticated crime. Therefore, there is an increasing need to protect citizens, companies, organizations and society.
The cybersecurity industry it has been recognized as strategically important for the EU and is characterized by strong growth, but is still very young in terms of maturity.
The EU cybersecurity companies face multiple challenges as they try to grow, scale and expand their businesses. They tend to underperform other international companies on several fronts: they are fewer in number, they generally raise fewer funds, their product development capabilities are less mature, and their ability to access markets is not well established.
