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.

Officials reportedly said that there are approximately 10,000 job openings in the cybersecurity field in New York City, and a global shortage of more than 1 million to 2 million cyber-security experts in the coming years.

“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.”

Support Jewish Journalism
with 2020 Vision

JNS is more than just another news website and syndication service. It is an organization devoted to nonstop reporting, and telling the truth about Israel and Jewish issues unburdened by the biases and institutional blinders that distort so much of what we read, hear and see about these topics elsewhere in the secular and even Jewish press.

At JNS, you get the facts about Israel and Jewish issues without the bias that so often tilts the argument against the Jewish state. JNS articles and columns are republished every week by digital outlets and print newspapers across the globe. But in the age of round-the-clock news coverage, advertising and syndication revenues are not enough to support our continued growth. We need your financial help to keep JNS on target as we continue our fair and accurate reporting.

Please help us take JNS to the next level with a tax-deductible sponsorship, either on a recurring monthly basis. Jewish News Syndicate is a 501(c)3 not-for-profit organization.