New York City partnered with Israeli venture capital firm Jerusalem Venture Partners (JVP) to open a new cyber-security center in downtown Manhattan on Monday.
The $100 million partnership, including a $30 million contribution from New York City, will focus on companies and professionals working in the cyber-technology industry in an effort to create high-tech jobs and transform New York into a global leader for cyber-security.
JVP is working together with the mayor’s office and the Economic Development Corporation of New York, reported Reuters. The Israeli firm raised approximately $220 million from investors to invest in cyber-security companies based in New York City.
“The bottom line is that there are not enough well-trained people in cyber security to fill the jobs that are required for a safer, more thriving commercial sector,” said Wilson Lin, head of Cyber NYC, a city initiative of the Economic Development Corporation.
“Cyber security is continually growing more and more complex, and it is more and more urgent not only for large corporations like banks and large companies, but also for your own personal lives,” added Lin. “There are new stories every day, every week about some large credit agency or large hotel chain being hacked. People are continually realizing that we are vulnerable, and a lot of our personal data is at risk.”