ABBOTSFORD, BC, Aug. 10, 2018 /CNW/ - A Canadian-made cybersecurity system is making the internet safer thanks to a $475,000 investment from Western Economic Diversification Canada's Western Innovation Initiative (WINN).
The funding was announced by the Honourable Carla Qualtrough, Minister of Public Services and Procurement and Accessibility, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for Western Economic Diversification Canada, at the 2018 Aerospace, Defence and Security Expo.
As the global economy becomes increasingly digital, the importance of protecting organizations against cyber attacks continues to grow. WINN will help HYAS Infosec Inc. – a Vancouver Island-based information security firm – to commercialize their next generation cybersecurity platform while creating new economic opportunities and employment in the fast-growing threat intelligence sector right here in B.C.
- Called Saltspring, HYAS Infosec's innovative cybersecurity monitoring platform will provide real-time visibility into attacks and breaches across global networks. It will help clients identify previously unknown malware types far ahead of others in the industry, providing instant detection capabilities on a global scale.
- WINN is a five-year federal initiative that offers repayable contributions to small-and-medium-sized enterprises with operations in Western Canada to help move their new and innovative technologies from the later stages of research and development to the marketplace.
"With the rise of e-commerce and the increased need to share private information across networks, it's crucial that we support home-grown talent to meet the demands of the growing cybersecurity sector. HYAS Infosec Inc. is building on our regional strengths as a technology hub and fostering a knowledge economy as part of the Government of Canada's Innovation Agenda."
- Honourable Carla Qualtrough, Minister of Public Services and Procurement and Accessibility
"As the economy changes and becomes increasingly knowledge-based, it's important that we encourage Canada's competitiveness by supporting companies that are at the forefront of this digital transformation. I'm pleased to see that HYAS Infosec is leveraging its impressive cybersecurity experience to create new economic opportunities and meet the demands of this growing international market."
- Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for Western Economic Diversification Canada
"Cybersecurity innovation is absolutely critical to the public sector and we're proud to have the support of WD, an esteemed local investor that believes in the importance of taking cybercriminals off the map. Our mission is to provide business owners with the advanced tools they need to effectively prevent cyberattacks and identify the individuals behind them. This new funding will greatly enhance our ability to deliver on that mission while cultivating an exceptional company culture that attracts Canada's best talent in the process."
- Jeff Spencer, Chief Operating Officer, HYAS Infosec Inc.
IF THERE IS A DISCREPANCY BETWEEN ANY PRINTED VERSION AND THE ELECTRONIC VERSION OF THIS NEWS RELEASE, THE ELECTRONIC VERSION WILL PREVAIL.
SOURCE Western Economic Diversification Canada
For further information: Mallory Clyne, Director of Communications, Office of the Minister of Innovation, Science and Economic Development, 343-291-2500, Email: [email protected]; Amanda Costa, A/Regional Communications Manager, Western Economic Diversification Canada, Telephone: 604-603-9480, Email: [email protected]; Burak Evren, Marketing Director, Hyas Infosec Inc., Telephone: 778-677-3517, Email: [email protected]