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ARTICLE · 25 JANUARY 2017

Cybersecurity – Ontario's Next Big Startup Cluster?

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A recent report from Deloitte, commissioned by the OCE and the TFSA, suggests that Southern Ontario is perfectly positioned to become a global hub for cybersecurity startups.

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A recent report from Deloitte, commissioned by the Ontario Centres of Excellence (OCE) and the Toronto Financial Services Alliance (TFSA), suggests that Southern Ontario is perfectly positioned to become a global hub for cybersecurity startups.

The current market for cybersecurity products is estimated at $106 billion. At the same time, the average Canadian data breach costs over $6 million, and analysts project the aggregate global costs of cybercrime at $2 trillion, with dramatic growth rates. With high enterprise risk but no single company leading the market for enterprise solutions, it's an attractive sector for a new entrant.

Deloitte's report argues that Canada, and Ontario in particular, should play a leadership role in the global development of this vertical.

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