India is one of the leading victims of cyber-crime and the cybersecurity market is estimated at around US$218 million. Indian cybersecurity companies have developed indigenous products to address rising cyber-threats, but, with limited success. By contrast, Israel is famed for its prowess in developing innovative solutions for fields that encompass agriculture, medicine, clean-tech, hi-tech etc., and this also extends to the emerging field of cybersecurity. Israel’s cybersecurity industry possesses the potential to be a willing partner in defying India’s cyber-world problems.
The essence of India’s ongoing cybersecurity partnership with Israel has primarily been characterized by Israeli cybersecurity companies serving requests of the Indian governmental sector. However, the flow of the collaborative needs to take another direction, and more partnerships need to be formulated in the corporate world. India’s reliance on data systems continues to increase rapidly and corporate entities including start-ups will undoubtedly play a pivotal role in shaping the cyber-domain.
Joint-product development is possibly the most vital area of cybersecurity-cooperation for the Indian and Israeli private sectors. Indian cybersecurity corporations and start-ups are certainly gifted with an enormous market, great ideas, and skilled manpower; but have had limited success in creating innovative products. However, a great idea will not suffice to build a successful product; something ‘extra’ must be added to the existing idea! Israel’s expertise in innovation promises to grant the much-needed edge for the Indian cybersecurity industry to develop world-class products.
A true goldmine for innovative partnerships in Israel is embedded in the globally renowned “Start-Up Culture”. It is very common to see Israeli cybersecurity start-ups being founded by fearless-entrepreneurs with considerable military experience, as they understand the nature of cyber-threats, and the intuitive methodology to pioneer relevant solutions. The start-up community is a significant segment of Israel’s cybersecurity ecosystem that provides valuable partnership and investment openings for Indian corporations/start-ups.
Cybersecurity remains a field where the numbers of threats are growing rapidly; but so are opportunities for collaboration. Securely connecting India’s existing and ever-expanding infrastructure to data systems is an enormous task which continues to open avenues for constructing strategic alliances with Israel. Indian cybersecurity entities must recognize, and capitalize, on opportunities to partner with Israeli counterparts to address India’s cybersecurity challenges.
Guest Post Contributed by Vishal Dharmadhikari, the concept initiator of a business-event – India-Israel Cybersecurity Connect (IICC), which featured as a sub-event in Israel’s largest cybersecurity event i.e. the 3rd Annual International Cybersecurity Conference.
