Cybersecurity all-important for entrepreneurs - report

Cybersecurity all-important for entrepreneurs - report | Insurance Business

Cybersecurity all-important for entrepreneurs - report

Increasing emphasis on cybersecurity reaps rewards as start-up businesses mature, according to CyberCube.

The cyber risk analytics firm’s message came as part of a contribution to a report by the World Economic Forum. The report, Incentivising Responsible and Secure Innovation: A Framework for Investors and Entrepreneurs, states that “digital technologies are introducing new vulnerabilities faster than they can be secured and the prospect of curbing cyberattacks diminishes with each additional unsecured technology.”

In its submission to the report, CyberCube said that many start-ups are prevented from developing strong cybersecurity cultures due to the pressures of rapid workforce expansion and product development. To counter these pressures, cybersecurity needs to be embedded in the company from the beginning, CyberCube said.

“Security belongs to everyone in an organisation, not just the security team,” said Ajay Garg, head of engineering for CyberCube. “Everyone handles data and uses passwords, so they all have a part to play. Even in their earliest stages, businesses increasingly need to establish a security culture and reinforce it through small, attainable goals.”

CyberCube also recommended that managers lead by example to instill a cybersecurity mindset, think creatively to make cybersecurity engaging for staff, and focus on raising employees’ awareness of security issues.

“Too often, cybersecurity is viewed only as an information technology issue for which only IT professionals are responsible,” said Pascal Millaire, CEO of CyberCube. “The cyber essentials framework promoted by the World Economic Forum reframes cybersecurity into a strategic business challenge transcending across organisational, product and governance issues for all entrepreneurs, innovators and their investors.”