RM200 Million Programme to Nurture Local Cybersecurity Talent

Recognising the growth potential of the booming cybersecurity industry, Asia Cybersecurity Exchange (ASIACYBERX), a leading cybersecurity platform, is forging ahead with its plan to cultivate and nurture more local cybersecurity talent through a RM200 million Cybersecurity Accelerator Programme.

A first in Malaysia and Southeast Asia region, the Accelerator Programme is part of ASIACYBERX’s long-term plan to create a broader pool of cybersecurity talent through developing young innovative start-ups into high-growth potential businesses, which in turn, will help boost Malaysia’s overall digital economy.

The Accelerator Programme emphasises active mentorship to help local start-ups and entrepreneurs throughout every step of their growth journey, from commercialisation of solutions and products, to fine tuning business models, to securing funding and networking opportunities within its existing network of more than 20 mentors, entrepreneurs and industry experts.

To date, a total of RM200 million has been allocated under the programme to help shortlisted start-ups scale their business to the next growth level.

Supported by the several key governmnt agencies, including Ministry of Communications and Multimedia, National Cyber Security Agency Malaysia (NACSA), Malaysian Multimedia and Communication Commission, Malaysia Digital Economy Corporation (MDEC) and Bank Negara Malaysia, ASIACYBERX was launched in April 2018 to strengthen the country’s growing cybersecurity ecosystem to support Malaysia’s transformation into a world-class cybersecurity resource hub. It is solely owned by ACE Accelerator Network Sdn Bhd, which was formed following a partnership between LE Global Services Sdn Bhd (LGMS) and the ACE Group, a diversified investment conglomerate. LGMS is currently the largest professional security testing firm in Malaysia.

Fong Choong Fook, LGMS Chief Executive Officer, who is also the lead mentor for the Accelerator Programme, said, “This is an exciting time for the cybersecurity industry. In today’s digitised world, cybersecurity is no longer a technology need, but rather a key business enabler. Businesses are increasingly investing in security solutions and services to counter attacks and ensuring their data is secure. Through this programme, ASIACYBERX is happy to play an active role in expanding the local cybersecurity ecosystem by nurturing home-grown talent and competencies. Our mission is really to help them grow and reinvent the industry.”

According to the Ministry of Communication and Multimedia, Malaysia is one of the top three ASEAN countries to contribute 75 percent of the regional cyber security services market share by 2025.

While the Accelerator Programme is anchored on cybersecurity, Fong highlighted that the programme will not limit the selection process to pure cybersecurity players; instead it is open to start-ups in IT security, big data analytics, and cybersecurity-related solutions.

“We hope the Accelerator Programme will allow us to cast the widest net possible to attract new start-ups to develop next-generation cybersecurity solutions. That’s why, the programme is uniquely designed to enable us to bring together key industry stakeholders, including policymakers, providers, industry experts and academia to work together to grow a broader pool of talent and entrepreneurs,” Fong elaborated.

Commenting on the Accelerator Programme, ACE Group Chairman, Tan Sri Dato’ Ahmad Fuzi Haji Abdul Razak, said, “The cybersecurity industry offers phenomenal growth opportunities. But, for the local cybersecurity industry to continue to thrive, we need to build a competitive ecosystem. ACE Group is supporting promising start-ups to grow their ideas and scale their business to take up global cybersecurity challenges, from right here in Malaysia.”

Interested start-ups can find out more information about ASIACYBERX Cybersecurity Accelerator Programme at https://asiacyberx.com or call 03-8601 4869 / email: info@asiacyberx.com

 

Source: https://www.businesstoday.com.my/2019/04/18/rm200-million-programme-to-nurture-local-cybersecurity-talent/

Cybersecurity accelerator scheme offers RM200 milion to start-ups

KUALA LUMPUR, April 18 (Bernama) -- ACE Accelerator Network Sdn Bhd said a total of RM200 million has been allocated under its Asia Cybersecurity Exchange's (ASIACYBERX), Cybersecurity Accelerator Programme to scale up start-ups to the next growth level.

In a statement today, it said the accelerator programme emphasises active mentorship, from commercialisation of solutions and products, establishing the right business models, and securing funding and networking opportunities within its existing network of more than 20 mentors, entrepreneurs and industry experts.

Launched in April 2018, ASIACYBERX was a collaboration between LE Global Services Sdn Bhd (LGMS) and ACE Holdings Bhd to propel Malaysia to be a major cybersecurity hub in the region.

LGMS chief executive officer Fong Choong Fook said the programme will not limit the selection process to pure cybersecurity players and it is open to start-ups in IT security, big data analytics, and cybersecurity-related solutions.

“We hope the accelerator programme will allow us to cast the widest net possible to attract new start-ups to develop next-generation cybersecurity solutions.

"That’s why the programme is uniquely designed to enable us to bring together key industry stakeholders, including policymakers, providers, industry experts and academia, to work together to grow a broader pool of talent and entrepreneurs,” Fong elaborated.

He said according to the Ministry of Communications and Multimedia, Malaysia is one of the top three ASEAN countries for cyber security services, which are expected to contribute a combined 75 per cent of the regional market share by 2025.

Meanwhile, ACE group chairman Tan Sri Ahmad Fuzi Abdul Razak said there is a need to build a competitive ecosystem for the local cybersecurity industry to continue to thrive.

“The cybersecurity industry offers phenomenal growth opportunities.

"ACE Group is supporting promising start-ups to grow their ideas and scale their business to take up global cybersecurity challenges, from right here in Malaysia.” he added.
 

Source: http://bernama.com/en/news.php?id=1717864

AsiaCyberX is Bridging the Need for Cyber Defender: The Edge

AsiaCyberX (Asia Cybersecurity Exchange) Gives Malaysia’s Cybersecurity Landscape A Much-Needed Boost.

Every day is a field day for cyber crooks as cybercrime tools become more sophisticated and more readily available; however, this is not evident to us because many countries lack the legal provisions that require organisations to disclose cybersecurity incidents or data breaches.

This would also be the case in Malaysia, says Fong Choong Fook, CEO of LE Global Services Sdn Bhd (LGMS) and Founder of Asia Cybersecurity Exchange (AsiaCyberX). Fong shares his opinion on the cyberattack statistics in Malaysia, in which cybersecurity incidents are underreported due to the absence of such laws or regulations, subsequently making it difficult to plan and take proactive measures. In other words, as there is no law that requires an organization to report cyber security incident to the authorities, nobody really knows the severity of the situation.

“AsiaCyberX’s mission is to empower cyber entrepreneurs and grow cyber defenders with huge potential. With our training and mentorship programmes, we aim to elevate Malaysia’s cybersecurity ecosystem to a whole new level by strengthening the capabilities of local talent and entrepreneurs,” said Fong.

“A fund of RM200 million is up for grabs for cybersecurity start-ups with high-growth potential; the ultimate aim is to elevate Malaysia as a hub for cybersecurity entrepreneurship and talent. Let us know if you have a cybersecurity idea.”

Source: https://lgms.global/the-edge-bridging-the-need-for-cyber-defender/

TECHNODEX SOLUTIONS AS RECRUITER OF ASIACYBERX

SUBANG JAYA (4th April): On 4th April 2018 marked another remarkable achievement in Cyber Security industry where TechnoDex Solutions Sdn Bhd had been appointed by ACE Accelerator Network Sdn Bhd to manage the placement of participants of the AsiaCyberX program. The program is the collaboration between Ace Accelerator, ACE Group and LE Global Services Sdn Bhd (LGMS) to propel Malaysia to become a major cyber security hub in the border-less realm of the Internet.

This program is to support the government request to produce 2000 data scientist as the country approaching 2020 and to assist in the transitioning of the new era of Industry 4.0 as mentioned by the Deputy Minister of Multimedia and Communication, Datuk Seri Jailani Johari. He stated that, in order to achieve the target, higher institutions and private sector should together support this high demand industry. Programs and collaboration about data especially cyber security specialization should be the top priority since the expand of digitalization and internet usage could open doors to many cyber crime activities.

AsiaCyberX is solely owned by ACE Accelerator Network Sdn Bhd and the mission is to identify undiscovered cybersecurity talent and tech companies with huge growth potential. This involved training of 240 cybersecurity talent recruited from eight universities where Ace Group also subside RM200 millions of investment in this program. The amount is just to ensure these talents will be placed to the real industry companies after they excel the whole program

Thus, TechnoDex Solutions will be the responsible party to place these excellent talents and supplied them to the respective companies that requires their expertise. They will work as security analysts who will prevent and mitigate security breaches and security managers needed to develop and implement overarching processes to keep information private. So, email us now to get the best talent for your company at career@technodex.com

Source: http://www.technodex.com/technodex-solutions-as-recruiter-of-asiacyberx/

240 CYBERSECURITY SPECIALISTS TO BE TRAINED THIS YEAR

SUBANG JAYA (April 4): Cybersecurity company LE Global Services Sdn Bhd (LGMS), which has launched the Asia Cybersecurity Exchange (AsiaCyberX) platform designed to make Malaysia one of the world’s major cybersecurity hubs, is aiming to train 240 cybersecurity specialists in the next 12 months under a partnership with Malaysia Digital Economy Corp (MDEC), in line with Malaysia’s aim to develop 2,000 data scientists by 2020.

AsiaCyberX is the brainchild of LGMS in advocating and supporting cybersecurity entrepreneurship, while also nurturing skilled cybersecurity professionals to meet the growing demand in this space.

AsiaCyberX is solely owned by ACE Accelerator Network Sdn Bhd and was formed out of a partnership between LGMS and the ACE Group, which is involved in financial services, investments and capital management.

ACE Group has allocated US$50 million (RM193 million) for start-ups with high growth potential in the area of cybersecurity.

The AsiaCyberX initiative, which is supported by MDEC, will see MDEC partnering with LGMS to roll out a 12-month MDEC Cybersecurity Development Programme, a pilot programme to recruit 240 undergraduates from eight Premier Digital Tech Universities by 2018.

This will be achieved via a series of activities, including cybersecurity conferences, hackathons, chief information security officer roundtables as well as industry collaboration workshops over the next 12 months.

LGMS CEO Fong Choong Fook said AsiaCyberX’s mission is to identify undiscovered cybersecurity talents and entrepreneurs with huge growth potential. With its training and mentorship programmes, it aims to elevate Malaysia’s cybersecurity ecosystem by strengthening the capabilities of local talent and entrepreneurs.

“AsiaCyberX emphasises on building cybersecurity-related talent and identifying cybersecurity entrepreneurs, providing opportunities for these entrepreneurs to accelerate their ideas into a business,” Fong told a press conference after the launch of AsiaCyberX today.

He said in cybersecurity, there will be multiple roles that need to be filled and will become increasingly in demand. These roles will cover a wide range of duties, from the security analysts who work to prevent and mitigate security breaches to security managers needed to develop and implement overarching processes to keep information private.

Deputy Minister of Communications and Multimedia Datuk Seri Jailani Johari said overall, the “funnel” of new talent is too small and not enough to sustain and support growing demand of Malaysia’s digital economy.

“Cybersecurity requires a concerted effort from the government, the public sector, and the industry to drive digital innovation. It is therefore timely that this AsiaCyberX is the first cybersecurity hub in Malaysia, which will provide a central platform for cybersecurity collaboration, innovation and capability building programmes with the support of the National Cyber Security Agency and MDEC,” said Jailani.

According to an AT Kearney Cybersecurity Asean study, Malaysia is one of the top three Asean countries that are expected to contribute 75% of cybersecurity services market share by the year 2025. It said the top 1,000 Asean companies could lose up to US$750 billion in market capitalisation due to cybersecurity risks.

Source: http://www.thesundaily.my/node/537648

LGMS to launch Asia Cybersecurity Exchange very soon

KUALA LUMPUR (March 26): LE Global Services Sdn Bhd (LGMS), one of Malaysia’s leading cybersecurity companies, aims to launch the Asia Cybersecurity Exchange (AsiaCyberX) in the very near future.

LGMS chief executive officer Fong Choong Fook said the AsiaCyberX initiative was conceived to make Malaysia one of the world’s major cybersecurity hubs.

AsiaCyberX is the brainchild of Fong to advocate and support cybersecurity entrepreneurship, while also nurturing skilled cybersecurity professionals to meet the growing demand in this space.

“AsiaCyberX would also serve as a key catalyst for the cybersecurity ecosystem, both locally and regionally,” said Fong in an interview with NST Business.

“AsiaCyberX’s mission is to identify undiscovered cybersecurity talent and entrepreneurs with huge growth potential.

“With our training and mentorship programmes, we aim to elevate Malaysia’s cybersecurity ecosystem to a whole new level by strengthening capabilities of entrepreneurs and professionals to deal with latest cybersecurity threats,” he further said.

Fong said by increasing the diversity of the cybersecurity workforce, the company will be able to create a broader pool of cybersecurity talent and to muster the right talent to develop rich responses to the increasing threat of cybersecurity attacks.

Fong is a 20-year cybersecurity veteran and who has advised and trained multiple government bodies and multinational companies throughout the Asia Pacific, Eastern Europe, and Africa regions.

AsiaCyberX is solely owned by ACE Accelerator Network Sdn Bhd, and was formed out of a partnership between LGMS and the ACE Group, which is involved in financial services, investments and capital management.

One of AsiaCyberX’s objectives is to train hundreds of cybersecurity talent in the next 12 months, before scaling up to accommodate more talent from next year onwards.

“In cybersecurity, there will be multiple roles which need to be filled and will become increasingly in demand,” said Fong.

“These roles will cover a wide range of duties, from the security analysts who work to prevent and mitigate security breaches to security managers needed to develop and implement overarching processes to keep information private,” he added.

LGMS was established in 2005 to help companies cope with information security issues.

Today, LGMS provides cybersecurity services to numerous local banks, financial services and multinational companies, as well as companies from various other industries across Malaysia and throughout Southeast Asia.

The company is also working with government agencies like Malaysia Digital Economy Corporation (MDEC) and Cybersecurity Malaysia on various cybersecurity initiatives.

Source: https://www.nst.com.my/business/2018/03/349482/lgms-launch-asia-cybersecurity-exchange-very-soon