The EU will invest €450 million in this partnership under its research and innovation (R&I) programme H2020. In return, each euro of public funding is expected to trigger additional investments of three or more Euro by the cybersecurity market players represented by ECSO. In total, €1, 8 billion of investment by 2020 is expected to be raised.
The signature ceremony hosted by Vice President of Digital Single Market, Andrus Ansip and Commissioner for Digital Economy and Society, Gunther Oettinger, gathered high-level ECSO member representatives of 48 public and private organisations from 14 different countries.
Timothée Mangenot, President of Eurosmart said: “Through this cybersecurity Public-Private partnership, the European Commission sets out an excellent initiative to strengthen the European cybersecurity sector. The raise in cybersecurity attacks over the last years is a severe threat for all the European economic actors, whatever their size. Europe deserves concreate measures to ensure highly secure and trustworthy digital environment. Eurosmart as a founding member of ECSO is fully committed to take up this challenge ”.