Ont. govt. investing up to $5M towards cybersecurity initiative

The Ontario government announced it is investing up to $5 million to help the Canadian Cyber Threat Exchange (CCTX) launch the Ontario Cybersecurity Excellence Initiative.

According to a government statement, the initiative will help Ontario companies develop and adopt cybersecurity technologies to enhance data security and help protect assets from cyber threats.

CCTX is a non-for-profit cyber-threat sharing hub and collaboration centre. Rogers Cybersecure Catalyst, Toronto Metropolitan University’s national centre for training, innovation and collaboration in cybersecurity, will collaborate with CCTX to launch the cybersecurity initiative. Government funding for CCTX will be provided through the province’s Critical Technology Initiatives program.

According to a government press release, Ontario comprises one of the largest information and communications technology sectors in North America, with more than 400,000 ICT workers, and more than 340 small and medium-sized businesses focused on cybersecurity. Most of these companies are located in Toronto, Kitchener-Waterloo and the Ottawa region.

“Ontario is one of the largest tech hubs in North America and critical technologies like cybersecurity fuel and drive made-in-Ontario innovation as companies include new technologies in their products,” said Vic Fedeli, Minister of Economic Development, Job Creation and Trade in a statement. “Our government is proud to support CCTX’s work to help businesses across the province develop and adopt new-generation cybersecurity technology so they can become more competitive, grow and create more good-paying jobs.”

“CCTX is delighted to join forces with the Catalyst to launch the Ontario Cybersecurity Excellence Initiative,” added Jennifer Quaid, executive director of CCTX. “This partnership is a unique opportunity to pool our expertise, resources and networks within the cybersecurity ecosystem to help foster a technologically advanced economy in Ontario, secured by best-in-class cybersecurity products and processes.”