The Australian government launched a new cybersecurity node on Wednesday to drive innovation in the rapidly developing sector.

According to Karen Andrews, the federal minister for industry, science and technology, the new facility will not only help boost Australia’s cyber defences but it will also drive job growth into the future.

“This new node in Sydney, backed by AustCyber and the New South Wales (NSW) state government, will bring together startups, corporations, universities, researchers and government agencies to share expertise and create new ideas,” she said.

“The government is determined to reap the rewards of the rapidly growing global cybersecurity market which is expected to be worth 250 billion U.S. dollars by 2026,” Andrews said, “We want to generate more investment and more jobs for Australians.”

Located at the harbor city’s Joint Cyber Security Centre, which specializes in threat information sharing, the site will be part of a network of five other nodes across the country.

“Together with our launch of the NSW Cyber Security Industry Development Strategy last year, the establishment of the node is a further important step taken by the NSW Government towards strengthening our cyber capabilities,” NSW Minister for Finance and Small Business Damien Tudehope said.

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