NYCEDC Unveils Global Cyber Center, Innovation Hub, and New Talent Pipelines to Secure NYC’s Future

Cyber NYC will be fueled by a $30 million City investment, leveraging up to an additional $70 million from private funding.

NYCEDC Unveils Global Cyber Center, Innovation Hub, and New Talent Pipelines to Secure NYC’s Future

New York City Economic Development Corporation, Press Release, October 02, 2018

Unveiling Plans for a Chelsea-Based Global Cyber Center, a SoHo-Based Innovation Hub, a Facebook-CUNY Master’s Program, a Virtual Apprenticeship Program, and a Cyber Boot Camp for Underserved New Yorkers, Among Other Initiatives

City Tapping World-Renowned Partners SOSA, JVP, Columbia University, CUNY, NYU, Cornell Tech, iQ4, Fullstack Academy, and LaGuardia Community College to Spur Innovation and Catalyze 10,000 Good-Paying Jobs through Cybersecurity

New York City Economic Development Corporation (NYCEDC) today unveiled its plans to transform New York City into a global leader of cybersecurity innovation and talent to combat one of the world’s greatest threats. Cyber NYC, the City’s initiative to grow the cybersecurity sector, will leverage a roster of world-renowned partners to launch a Global Cyber Center, an innovation hub for startups, initiatives to fuel commercialization and research, and new talent pipelines to train the cyber workforce of the future.

“New York City needs to be ambitious about cybersecurity because our future depends on it. Cyber NYC will fuel the next generation of cybersecurity innovation and talent, leveraging one of the world’s greatest threats to create a major economic anchor and up to 10,000 quality middle-class jobs,” said NYCEDC President and CEO James Patchett. “We’ve convened a world-class roster of partners to help us execute on this essential plan, which will help protect the industries and people that make this city the economic powerhouse that it is today.”

Cybersecurity attacks occur every 40 seconds across the globe, with over 3.8 billion internet users being affected by cyber-attacks in 2017. This extreme threat has created a growing demand for new products and cybersecurity talent. The cybersecurity talent gap will grow to an estimated 3.5 million unfilled jobs by 2021 [1]

With key industries in finance, healthcare, retail, and media – all major targets of cybersecurity attacks and the largest buyer-base of cybersecurity products – New York City has both a need and an opportunity to fuel homegrown innovation and talent. Cyber NYC is expected to catalyze the growth of 10,000 good-paying cyber security jobs over the next decade and is a key component of Mayor de Blasio’s New York Works Plan.

Cyber NYC will be fueled by a $30 million City investment, leveraging up to an additional $70 million from private funding. The robust initiative includes the following distinct, yet connected efforts:

Creating a Center of Gravity for Cyber

Global Cyber Center:
NYCEDC has selected Israeli corporate innovation expert, SOSA, to establish a center of gravity for the industry. The 15,000-square-foot, state-of-the-art center in Chelsea will bring together an international community of corporations, investors, startups, and talent to foster collaboration and innovation in New York City’s growing cybersecurity ecosystem. Located at 17th Street and 7th Avenue, the center will offer industry-specific events, and programming, as well as coworking space for startups and a cyber range, a virtual testing ground to run simulations.

 

 

Hub.NYC by JVP: NYCEDC has selected renowned international venture capital firm Jerusalem Venture Partners (JVP) to establish the city’s first international cybersecurity investment hub and create the next billion-dollar opportunity in cybersecurity. Functioning out of a 50,000-square-foot space located in SoHo, this dynamic program will support growth-stage startups, facilitating access to clients, business support, and investment, with the goal of growing them into major cybersecurity companies in New York City.

Inventors to Founders: NYCEDC has selected Columbia University to connect academic inventors of patented cybersecurity technologies with experienced entrepreneurial talent to launch new cybersecurity startups, accelerating innovation and commercialization. It will also provide acceleration resources such as mentorship, training, and validation capital to launch more and stronger early-stage academic startups as quickly as possible.

Developing a Workforce of the Future

Applied Learning Initiative: NYCEDC has selected CUNY, NYU, Columbia, Cornell Tech, and iQ4 to train the next generation of cyber specialists through new certifications and degree programs for New Yorkers. It will provide degree-seeking students with real-world, case-method education about cybersecurity and job-placements, including a new one-year CUNY Master’s program in collaboration with Facebook and a stackable credentials program across multiple universities, which will be hosted exclusively on the global online learning platform, edX.org.

Cyber Boot Camp: NYCEDC has selected industry-leading software development school Fullstack Academy and CUNY’s LaGuardia Community College (LAGCC), which has one of the largest tech training programs in the region, to prepare New Yorkers for good-paying job opportunities in cybersecurity. Fullstack Academy will lead an intensive boot camp in industry-specific cybersecurity competencies. Adults with minimal familiarity with cybersecurity will be placed in a six-week preparatory course at LAGCC, where participants will learn the basics of industry software and terminology, before continuing onto the Fullstack boot camp. The Cyber Boot Camp will place over 1,000 students in jobs that have an average starting salary of $65,000 over the first three years of the program. Click here for information.

Working with Industry Leaders

Cyber NYC and its program operators will be supported by an enthusiastic and diverse array of industry partners, focused on growing New York City’s cybersecurity industry. Among the most notable are:

  • Goldman Sachs, whose Chief Operational Risk Officer Phil Venables and Chief Information Security Officer Andy Ozment have agreed to serve on Cyber NYC’s key advisory boards, lending their expertise to advise on the overall direction of the initiative.
  • PricewaterhouseCoopers has committed to hiring students from Cyber NYC’s talent programs.
  • MasterCard has committed to be a partner of the Cyber Boot Camp and to hiring graduates of the program.
  • Facebook has committed to co-developing a new master’s degree program with CUNY.
  • And, edX.org, which has committed to hosting the Stackable Credentials Program on their global learning platform.

The city’s current cybersecurity industry has a strong foundation with over 100 firms and 6,000 employees. In 2017 alone, the city received over $1 billion in cybersecurity-related venture capital funding. Innovations in cybersecurity help our legacy companies compete, and the industry itself is a hotbed for high-paying and accessible jobs, with over 95% paying over $50,000.

“Cybersecurity has never been more important to the pillars of New York’s economy – sectors like finance, healthcare, media, and technology – and it will only grow more crucial,” said Manhattan Borough President Gale A. Brewer. “You only have to open a newspaper to see how vast the need for cybersecurity is today. Investing in this industry is timely, it plays to New York’s strengths, and it will deliver a real return.”

“New York City must stand at the forefront of innovation and initiatives in the rapidly growing field of cybersecurity. We have the unique ingredients to become a global leader in this sector,” said Council Member Vallone, Chair of the Committee on Economic Development. “Combining public and private funding, the CyberNYC initiative will also play an integral role in creating thousands of new jobs and career paths which will further boost our city’s economy. I applaud the EDC’s leadership and vision and look forward to continue working with them to support initiatives that build on our strengths and provide more opportunities for New Yorkers.”

“As global leaders on the counterterrorism front, the City that never sleeps is the perfect place for the cybersecurity industry to take root. Our Chelsea cyber center will stand out by adding even more jobs, talent and innovation to our growing tech-savvy city. Thank you to the NYCEDC and all our partners for continuing the push to transform NYC into the latest and greatest center for tech innovators,” said Council Member Peter Koo.

“We’re convinced that New York City, the world capital of finance and media, will soon emerge as the new global hub for cybersecurity,” said Erel Margalit, Founder and Chairman of JVP. “If the West Coast is the U.S technology hub, New York can become the international technology Hub in close partnership with Israel and the international community to build the next generation of cybersecurity companies to counter the new threats.”

“We are excited and honored to have been chosen by the EDC to run the Global Cyber Center,” says Uzi Scheffer, SOSA CEO. “The Global Cyber Center will serve as a center of gravity for the entire cybersecurity industry and will connect to the finest talent from New York, the States, Israel and our entire global network. SOSA has a long history of forging strong partnerships by bringing together entrepreneurs and technologies to drive solutions, and we look forward to doing the same for the cyber community as we grow our New York City presence. We will see partnerships formed, pilot projects launched and strategic investments made that will positively impact New York and the world.”

“EDC’s CyberNYC initiative establishes a new partnership positioned to powerfully combine expertise in technology and business innovation, education, job growth, and community collaboration to help fuel our City’s forward progress in the rapidly growing industry of cybersecurity,” said Geoff Brown, New York City Chief Information Security Officer and Head of NYC Cyber Command.”I look forward to witnessing and participating in CyberNYC in any and all ways through which it contributes to the safety of our City’s digital future.”

“We are extremely excited to be collaborating with NYCEDC on this exciting and important initiative,” said Orin Herskowitz, Executive Director of Columbia Technology Ventures.  “Columbia University has a long and successful track record of translating its inventions into products and services that improve lives, create jobs, and benefit society.  Last year alone, 28 startup companies were formed based on research emerging from Columbia’s labs across fields such as cybersecurity, machine learning, photonics, media, biotechnology, medical devices, tissue engineering, and more.  We look forward to collaborating with CUNY, Cornell Tech, and NYU to help launch more and stronger cybersecurity startups, faster than ever, based on these university innovations.”

“I am proud that CUNY has a key seat at the table for this vitally important citywide effort,” said Interim CUNY Chancellor Vita C. Rabinowitz. “Because of our vast reach and unparalleled ability to scale educational opportunities to the needs of so many different types of students, CUNY is uniquely positioned to build bridges with industry and equip large numbers of diverse students for jobs combating these ever-evolving threats.”

“Fullstack is extremely proud and excited to be part of CyberNYC – a much needed literal and figurative ‘Manhattan Project’ for cybersecurity.  New York City and the EDC’s goals of providing industry-driven training and career pathways for New Yorkers are core to Fullstack’s values and mission and an amazing example of the wholistic support that NYC provides for industries here – programs like these go a long way towards the long-term security and health of all NYC residents and businesses,” said David Yang, Co-Founder of Fullstack Academy.

“The exponential growth in sophisticated cybersecurity attacks and their intensity is putting our country, our people and our assets at risk² said Frank Cicio, founder and chief executive officer, iQ4.” Millions of jobs will go unfilled globally. NYC is the Financial Capital of the world and most at risk. As a Queens native, there could not be a better place on the planet to solve this epic challenge. iQ4 has cracked the code on mobilizing education and industry by implementing industry driven virtual apprenticeships at scale that will close the skills gap for thousands of New York students. We are thrilled to work with the City of New York , EDC leadership and CyberNYC’s visionary partners to showcase the world a new approach to learning. iQ4 will help transform the learning economy, and collaborate to scale the workforce of the future.”

“Cyber NYC is an important investment by the City of New York as it provides a route into the well-paying, in-demand field of cybersecurity for all New Yorkers​—enabling them to make better lives for themselves and their families,” said LaGuardia Community College President Gail O. Mellow. “With our experience training the next generation of tech professionals—more than 3,500 New Yorkers come through our technology programs each year—our bridge programs prepare students for high-intensity careers in the ever-changing world of work.  As every industry continues to plan for a defense against cyber-attack, I am proud that students trained at LaGuardia will play a role in safeguarding data, privacy, and digital assets in New York City, and beyond.”

“Today’s cybersecurity environment is more intricate and complex than ever before, and presents itself to companies, organizations and individuals alike,” said Sean Joyce, PwC US Cybersecurity & Privacy Leader. “To combat this ever-evolving threat landscape, it’s important that we invest in developing skilled professionals, innovative approaches, and build collaboration across the public and private sector to thwart potential attacks and build stronger resiliency.”

“As a nonprofit company committed to providing stackable and accessible online education in subjects that address today’s critical global skill gap, edX is excited to join the groundbreaking Cyber NYC initiative. We look forward to working with CUNY, NYU, Columbia and Cornell Tech to develop innovative online learning pathways that lead to real career outcomes,” said Anant Agarwal, edX CEO and MIT Professor.

“Through this collaboration with NYEDC and leading industry partners, we are proud to offer New Yorkers and global learners resources that allow them to gain the knowledge and skills needed to join the fast-growing cybersecurity workforce.”


[1] Cybersecurity Jobs Report, Cybersecurity Ventures, 2017.

About NYCEDC

New York City Economic Development Corporation is the City’s primary vehicle for promoting economic growth in each of the five boroughs. NYCEDC’s mission is to stimulate growth through expansion and redevelopment programs that encourage investment, generate prosperity and strengthen the City’s competitive position. NYCEDC serves as an advocate to the business community by building relationships with companies that allow them to take advantage of New York City’s many opportunities. Find us on Facebook or follow us on Twitter, or visit our blog to learn more about NYCEDC projects and initiatives.

About the Program Operators

About SOSA

SOSA, a global innovation platform with centres in Tel Aviv and New York, was founded in 2014 by a group of prominent Israeli investors and entrepreneurs, in order to create a unique place for the technological innovation industry and promote joint business activity among its members – international corporations and investors and technology ventures. SOSA serves as a landing pad that creates value for corporations, governments and cities, and connects them to innovative technologies. SOSA’s innovation network provides access to approximately 8,500 start-ups, 150 investors, venture-capital funds and international corporations, including Jefferies, Munich Re, HP, EON and more. Each year, SOSA generates dozens of POCs and maintains thousands of business interactions among its members. Learn more at https://sosa.co/ and follow us on Facebook, Twitter, LinkedIn and Instagram.
 

About JVP

Jerusalem Venture Partners is a renowned Israeli venture capital fund, with a strong track record of innovation and company creation, as well as deep international company building expertise. Founded in 1993 by Dr. Erel Margalit, JVP has raised over $1.3 billion dollars, and has been repeatedly ranked as one of the top-10 consistently performing VC funds globally. With over 130 companies created to date, spanning Israel, the US, Europe and Asia, JVP has led 12 IPOs on NASDAQ and numerous industry M&As, totaling over $20B of transaction value. Through a theme-driven focus and strong network of strategic partners, JVP seeks to stay ahead of the latest market trends and address the most relevant market needs. The cyber security domain has been at the heart of JVP’s successful track record – with the development of notable companies CyberArk, CyActive, ThetaRay and Morphisec – and the creation of Israel’s first cyber security center of excellence in Beersheva. For more information, please visit www.jvpvc.com or  http://hub.nyc/.

About Columbia Technology Ventures

Columbia Technology Ventures is the technology transfer office for Columbia University and a central location for many of the technology development initiatives, entrepreneurial activities, external industry collaborations, and commercially-oriented multidisciplinary technology innovations across the university.  CTV’s core mission is to facilitate the transfer of inventions from academic research labs to the market for the benefit of society on a local, national, and global basis. Each year, CTV manages more than 350 invention disclosures, 100 license deals, and 20 new IP-backed start-ups, involving over 750 inventors across Columbia’s campuses. CTV currently has over 1200 patent assets available for licensing, across research fields such as bio, IT, clean tech, devices, big data, nanotechnology, materials science, and more.

About CUNY

The City University of New York is the nation’s leading urban public university. Founded in 1847, CUNY counts 13 Nobel Prize and 23 MacArthur (“Genius”) grant winners among its alumni. CUNY students, alumni and faculty have garnered scores of other prestigious honors over the years in recognition of historic contributions to the advancement of the sciences, business, the arts and myriad other fields.  The University comprises 25 institutions: 11 senior colleges, seven community colleges, William E. Macaulay Honors College at CUNY, CUNY Graduate Center, Craig Newmark Graduate School of Journalism at CUNY, CUNY School of Labor and Urban Studies, CUNY School of Law, CUNY School of Professional Studies and CUNY Graduate School of Public Health and Health Policy.  The University serves more than 275,000 degree-seeking students. CUNY offers online baccalaureate and master’s degrees through the School of Professional Studies.

About NYU

Founded in 1831, New York University is now one of the largest private universities in the United States. Of the more than 3,000 colleges and universities in America, New York University is one of only 60 member institutions of the distinguished Association of American Universities. From a student body of 158 during NYU’s very first semester, enrollment has grown to more than 50,000 students at three degree-granting campuses in New York City, Abu Dhabi, and Shanghai, and at study away sites in Africa, Asia, Australia, Europe, North and South America. Today, students come from every state in the union and from 133 foreign countries.

About Cornell Tech

Cornell Tech focuses on creating pioneering leaders and technologies for the digital age, through research, technology commercialization, and graduate-level education at the professional masters, doctoral and postdoctoral levels.

Our premise is that the rapid pace of innovation in the digital age calls for new approaches to commercializing university technology, new levels of strategic collaboration between companies and universities, and new curricula for graduate education. We are creating new academic programs that blend technical depth, business knowhow, design skills and a “builder” mindset.

About iQ4

iQ4 is a centralized platform which enables applied learning through the strategic collaboration between students, academia, and the business world. The acquisition of skills during the mentoring program empowers students with pertinent knowledge for future prospects. Companies are able to develop the next-generation workforce in accordance with the demands of the market. IQ4 facilitates the creation of a competent workforce by uniting the independent initiatives of industry and academia.

About Fullstack Academy

Fullstack Academy is an award-winning, immersive coding school based in New York City. Backed by Y Combinator, co-founders David Yang and Nimit Maru leveraged their experience at Yahoo, Gilt Groupe, and Bloomspot (acquired by JP Morgan Chase in 2011) to create an elite program centered on fullstack JavaScript and emerging technologies. Fullstack Academy graduates enjoy excellent outcomes, with alumni working at startups as well as technology leaders, including Google, Amazon and Facebook. In 2016, Fullstack Academy launched Grace Hopper Program, the first all-women coding bootcamp in New York City, and the first in the country to offer a deferred tuition model. In 2018, Fullstack partnered with New York City to launch Fullstack Cyber Academy, an elite cybersecurity bootcamp.

About LaGuardia Community College

LaGuardia Community College located in Long Island City, Queens, educates more than 50,000 New Yorkers annually through degree, certificate, and continuing education programs. Our guiding principle Dare To Do More reflects our belief in the transformative power of education—not just for individuals, but for our community and our country—creating pathways for achievement and safeguarding the middle class. LaGuardia is a national voice on behalf of community colleges, where half of all US college students study. Part of the City University of New York (CUNY), the College reflects the legacy of our namesake, Fiorello H. LaGuardia, the former NYC mayor beloved for his championing the underserved. Since our doors opened in 1971, our programs regularly become national models for pushing boundaries to give people of all backgrounds access to a high quality, affordable college education. We invite you to join us in imagining what our students, our community, and our country can become. Visit www.LaGuardia.edu to learn more.

About Goldman Sachs

The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.

About PricewaterCoopers (PwC)

At PwC, our purpose is to build trust in society and solve important problems. PwC is a network of firms in 158 countries with more than 236,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com.

About MasterCard

As a technology company in the global payments business, we operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone.

About edX.org

EdX is a nonprofit, open-source learning destination offering online educational programs and courses at edx.org in alliance with more than 130 member institutions, composed of both leading global universities and colleges, and a diverse group of prominent organizations from around the world. Founded by Harvard University and Massachusetts Institute of Technology (MIT) and based in Cambridge, MA, U.S.A., edX is focused on transforming online and classroom learning through groundbreaking methodologies, game-like educational experiences and cutting-edge research on an open-source platform.

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