Victoria’s Cyber Strategy 2021 was released recently and sets the Victorian Government’s cyber agenda for the next five years.

The strategy sets out the Victorian Government's vision of a Cyber Safe Victoria. It aims to bolster the state's cyber security resilience across government, industry and the community and will be underpinned by support to develop a more dynamic and competitive cyber sector.

As Victoria looks to prosper in a digital economy, cyber capability and security will be instrumental in the state’s economic recovery from the effects of the coronavirus (COVID-19) pandemic. The risk of malicious cyber activity is now the second-highest identified state risk.

As coronavirus (COVID-19) accelerates the uptake of digital business models by industry and drives a rapid shift to remote working, education and consumption patterns, it has exacerbated the threat of malicious cyber actors and made the threats more complex.

We want to cultivate Victoria's cyber economy to develop and export world-leading cyber people and tools. A place where government, industry and community can connect, access services and thrive in the online world. To do this we must ensure we can all work safely and securely in the online and physical worlds, and that means reducing and addressing cyber risks.

The Victorian Government seeks to leverage the state's excellence in technology and innovation culture to position Victoria as a global leader in the growing cyber market. Victoria's Cyber Strategy 2021 sets out how we will make it happen.

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Mission 1: The safe and reliable delivery of government services

Mission 1 aims to strengthen the defences of Victorian Government networks and services equal to the current and emerging threats.

Mission 2: A cyber safe place to work, live and learn

Mission 2 aims to support individuals, households, businesses and community groups to connect, engage and work safely online.

Mission 3: A vibrant cyber economy

Mission 3 aims to develop strategic partnerships to grow a dynamic and competitive cyber sector underpinning digital transformation, growth and innovation across the Victorian economy.

Building a vibrant cyber economy

The Digital Economy team is responsible for delivering the Cyber Security Strategy 2021+ (Mission 3) - Creating a vibrant Cyber Economy in partnership with the Department of Premier and Cabinet.  The Team delivers key digital economy initiatives including the Regional Digital Fund, the annual Digital Innovation Festival and the Digital Innovation Futures Online Event Hub as well as a program of support for technology events and initiatives across the state. 

To achieve the ambitions of the Strategy across its three missions, Victoria must develop a strong technology skilled workforce and innovative local cyber security businesses and enhance cyber resilience across all industries. Creating a vibrant cyber economy supports the growth of businesses and jobs for the state.

Mission 3 aims to develop strategic partnerships to grow a dynamic and competitive cyber sector underpinning digital transformation, growth and innovation across every sector of the Victorian economy.

The mission also presents opportunities for local job creation, foreign direct investment and to improve cyber skills and expertise. These actions will position Victoria as a global leader in cyber risk management and support the state’s economic prosperity.

• Grow local capability 
• Enhance cyber skills development, pathways into employment and job growth
• Support industry maturity and investment opportunities

Growth and maturity of Victoria’s cyber ecosystem

The global and Australian cyber security market is growing rapidly, and Victoria is well positioned to capture a significant share of these markets.

• Between 2017 and 2020 global spend on cyber security products and services grew by 30 percent.
• Over the last year, global spend on cyber was US$147 billion and is expected to reach US$207 billion by 2024.
• Australians spent $5.6 billion on cyber security over the last year and this is expected to grow to $7.6 billion by 2024.
• Capturing opportunities in cyber could create thousands of skilled, high-value job opportunities over the next few years, adding to the almost 27,000 workers employed in cyber security roles in Australia today.

Increased investment opportunities

Stronger industry cyber capabilities are enablers of digital economic growth. They facilitate access to security-sensitive global supply chains and underpin Victoria’s investment value proposition, opportunities for jobs growth and the economic recovery across priority industry sectors.

There are significant opportunities for development of the cyber ecosystem through key industry sectors including:

• information and communications technology (ICT)
• advanced manufacturing
• medical technologies and pharmaceuticals
• professional services
• agriculture (food and fibre)
• defence technologies.

Attracting the presence of international cyber and technology companies to invest and operate in Victoria will enhance the capabilities of our local cyber start-ups and small business sector and provide opportunities to support and partner with Victoria’s leading fast-growing cyber product and services ecosystem. According to Global Victoria, Melbourne's position as a hub for collaboration in cyber security provides opportunities for growth in Victoria. 

• AustCyber - Cyber Security Growth Centre
• Data61's Cyber Security Innovation Hub
• Oceania Cyber Security Centre (OCSC)
• AustCyber - Stone and Chalk

Discover how your business can play a part in Victoria's cyber industry growth

The network of Victorian Government Trade and Investment (VGTI) offices are located around the globe and provide tailored market intelligence, insights and guidance for your importing business and to invest in Victoria. VGTI can also connect you with Victorian exporters and industry partners. 

For further information please visit:

• Department of Jobs Precincts and Regions
• Digital Technologies
• Global Victoria 

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