VENDORiQ: Cydarm Technologies Granted Entry into Global Incubator Program

The Latest

20 December 2022: Cydarm Technologies was granted entry into the iCyberCenter incubator program at the University of Baltimore in Maryland. The company joins 45 businesses that receive mentorship, resource sharing, research support and financial assistance to grow the enterprise and facilitate its entry into the United States. The company also participated in a bootcamp in New York in November for Australian RegTech companies ready to expand into the U.S. market.

Why it’s Important

Cyber security instances are on the rise and governments are responding with increased penalties for organisations – the victims – that have private or sensitive information stolen. In addition to bolstering cyber defences to reduce the risks of cyber attacks, or at least minimise the damage, governments are looking for organisations to dramatically improve their responses to attacks.

In the past quarter, IBRS has seen an influx of inquiries from clients regarding how to prepare a cyber incident response plan, and how to ensure such plans are executed effectively. We expect the need for, and sophistication of, such plans to only increase in the coming year.

The significant growth demand for cyber security solutions that assist organisations in developing and deploying cyber incident plans is no surprise. However, the market remains relatively light on vendors with dedicated solutions. In many cases, organisations are turning to established ITSM solutions or simple SharePoint sites to bolt together (partial) solutions.

Australian Cydarm has attracted US attention because it is one of the few vendors specialising in cyber response management. Cydarm will likely face more competition as other vendors see opportunities to tap this emerging market, but it has a lead at this time.

Who’s Impacted

• CIO
• Cyber security teams
• IT teams

What’s Next

Review IBRS’s presentations and materials on developing cyber incident response plans.
CIOs and CISOs should review their current cyber incident response places and assess their relevance for reporting to boards and executives.

Related Advisory

1. Cyber Security Breach – Are You Ready? – Presentation Kit
2. Surviving a Cyber Incident Without Damaging Your Brand – Video and Presentation Kit
3. Cyber Security Update for Executives and Boards – Presentation Kit
4. Cyber Attack: Is Your Board Ready? – Presentation Kit
5. Cyber Security Metrics – What Are You Tracking?