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GROWTH AND INNOVATION<br />

Cyberspace presents enormous opportunities for all Australian<br />

organisations. The internet is an essential tool for businesses of all<br />

sizes. As a platform, it delivers existing services and products, as<br />

well enabling the development of innovative technologies and new<br />

commercial opportunities. Equally, it underpins transformative<br />

change in the public, research and non-profit sectors.<br />

In the Asia-Pacific region, disruptive business models and the<br />

technologies that enable them—such as big data analytics, mobile<br />

internet, the Internet of Things and cloud computing—could<br />

create up to US$625 billion in economic activity per year by 2030,<br />

representing 12 per cent of the region’s total projected GDP.<br />

The Government’s commitment to cyber security will help<br />

businesses to diversify and develop new markets, laying the<br />

foundations for a prosperous future. To take advantage of the<br />

growing global market for cyber security services, the Government<br />

will also support Australia’s cyber security sector to expand and<br />

promote their capabilities to the global market. Domestically,<br />

strong cyber security services will encourage trust and confidence in<br />

Australian businesses operating online.<br />

With better focussed cyber security research and development<br />

that responds to the needs of industry and governments, Australia<br />

will generate investment and jobs and enhance our national cyber<br />

security. It will also make Australia a more attractive destination for<br />

business investment.<br />

Australia will position itself as a location for cyber security<br />

innovation by establishing a Cyber Security Growth Centre,<br />

through the National Innovation and Science Agenda. Creating a<br />

national network of research and innovation, the Growth Centre<br />

will bring together Australian governments, businesses, start-ups<br />

and the research community to define and prioritise cyber security<br />

challenges that are both critical to national success and those for<br />

which Australia has a leading ability to build globally competitive<br />

solutions. The Growth Centre will also link to existing cyber security<br />

innovation hubs overseas. The Growth Centre and its network will<br />

help strengthen our cyber defences as well as growing business<br />

opportunities and creating jobs. This includes through its connection<br />

with other initiatives in this Strategy such as the joint cyber threat<br />

sharing centres.<br />

Also through the National Innovation and Science Agenda, the<br />

Government is boosting the capacity of Data61—the Commonwealth<br />

Scientific and Industrial Research Organisation’s (CSIRO) digital<br />

powerhouse—to propel cyber security innovation, with a particular<br />

focus on support for cyber security start-ups and technical capability<br />

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