Cyber-Security program, KIDMA 2.0, launched with NIS 100 million investment from the Israeli government

The Office of the Chief Scientist at the Israeli Ministry Of Economy & Industry and Israel’s National Cyber Bureau in the Prime Minister’s Office Announce Program to Promote Israeli Cyber-Security Industry. Will Be Launched in Early 2016 and Will Include a Series of Advanced Tools to Promote Israel’s Cyber Industry

During the National Cyber Bureau Conference (Dec. 17), the Office of the Chief Scientist (OCS) of the Israeli Ministry of Economy & Industry and Israel’s National Cyber Bureau in the Prime Minister’s Office announced it would launch a new phase of KIDMA, a comprehensive program to promote the Israeli cyber industry, in early 2016.

Reflecting Israel’s role as a global powerhouse in the field and in seeking to boost the industry’s competitiveness in the global market, the Bureau and the OCS teamed up three years ago to create the KIDMA program (which in Hebrew stands for “Promoting Cyber R&D”). KIDMA provided benefits to Israeli companies in order to encourage R&D activity aimed at developing technological solutions in the field of cyber-security. The overall funding for the program from both government agencies exceeded NIS 100 million and was executed by the OCS according to the R&D Law.

Chief Scientist Avi Hasson said: “In view of the great success of the KIDMA program, we are continuing with a new program that will answer the changing needs of the country’s thriving cyber industry. The importance of maintaining the Israeli cyber industry’s leadership position internationally is only growing, and as such we need to promote new and unique technologies in a creative way. The successful collaboration between the National Cyber Bureau and the Office of the Chief Scientist has proven that a national effort in the hi-tech sector is critical to the success of the private sector and to fulfilling the economic potential of the Israeli cyber industry.”

Following the end of Phase I of the program in June 2015, a professional assessment conducted by the OCS revealed new obstacles and challenges facing the cyber-security industry. The continuation of the program, to be called KIDMA 2.0, seeks to answer these challenges with a restructured program and a new set of support tools for the Israeli cyber industry.

Hasson added: “KIDMA was one of the best and most sought-after programs we launched over the past several years. The Israeli cyber industry has grown and developed: we have seen many investments, countless new companies and a growing need for different types of support. Now we must move on to the next stage: long-term projects, connecting companies to clients, connecting Israeli firms with international companies and distributing budgets effectively.”

Head of Israel’s National Cyber Bureau Dr. Eviatar Matania said: “At a when the entire world is trying to cope with increasingly dangerous cyber threats, the Israeli cyber industry is a global source of innovation in a field that craves new solutions. Over the past few years, there has also been a trend of Israeli companies scaling up, with two Israeli companies going public on NASDAQ, several companies raising tens of millions of dollars and some Israeli companies acquiring local startups. In fact, more than a quarter of the exits in the field over the past three years were by Israeli companies. The government has an important role in building the scientific-technological groundwork necessary for the long-term and in offering support to the industry where it is most needed. I see special significance in the ongoing, deep discussion between government and industry.”

The importance of Israel’s cyber-security industry has grown immensely over the past several years, both in terms of its economic impact and in complimenting the development of other technological industries in Israel.

The KIDMA 2.0 program is designed to allow companies to grow and fulfill the economic potential of the cyber industry.