Asia Cybersecurity Exchange

Agencies, Cybersecurity, cybersecurity consulting / By

Have you heard about the Asia Cybersecurity Exchange? What does the company do? And what roles does it play in its home country?

So, read on to know more.

Table of Contents hide
1 Asia Cybersecurity Exchange
2 Key Steps
3 Other Partnerships

Asia Cybersecurity Exchange

First off, the Asia Cybersecurity Exchange is a company from Malaysia. It’s launched by LE Global Services Sdn Bhd or LGMS in 2018.

But, it’s owned only by ACE Accelerator Network Sdn Bhd. LGMS is only its partner and provides financial services, investments, and capital management.

So, its main goal is to make Malaysia one of the world’s top cybersecurity hub. Also, they want to promote cybersecurity entrepreneurship. 

They do this by supporting technology start-ups that they see as having a huge potential.

Then, it’s also part of their goal to create more skilled professionals in the field. Supporting homegrown talents and making more cybersecurity experts.

This is to meet the rising demand for cybersecurity in the country.

Then, they also aim to be the key medium for the cybersecurity ecosystem not only in Malaysia.

But also on a regional level, as it is a member of the ASEAN region. Creating a chance for better cybersecurity in Southeast Asia.

Thus, Asia Cybersecurity Exchange or AsiaCyberX’s key roles in the field are:

  • Start-up support program
  • Cybersecurity talent development
  • Training and mentorship
  • Event coordination
  • Job marketplace
  • Co-working space for cybersecurity start-ups

Key Steps

Based on one report, 21% of Malaysia’s cybersecurity are women. This is higher versus the USA’s 11%. But, even with this, these experts are still not enough.

More is needed to support the rising demand for data scientists. Because today, Malaysia is embracing a digital economy more and more.

So, as mentioned, AsiaCyberX is looking to create homegrown cybersecurity experts.

Because of this, when they started, they were set to train 240 cybersecurity talents. And this number will increase in the upcoming years.

Also, these talents were recruited from eight universities within the country.

Their aim is to train more security analysts and security managers. And their focus is to stop and lessen security breaches.

Also, they need to install processes to keep important information private.

Then, they planned to invest in technology start-ups that focus on cybersecurity. And the budget they granted for this was RM200 million or around $48 million.

AsiaCyberX is also backed by MDEC or the Malaysia Digital Economy Corporation. They are partnering with LGMS to create a program.

It is the MDEC Cybersecurity Program. Its goal is to make a full schedule of cybersecurity activities for a span of 12 months. These include:

  • cybersecurity conferences
  • industry collaboration workshops
  • hackathons
  • Chief Information Security Officer roundtables

Other Partnerships

Aside from partnerships with LGMS and MDEC, ACE Group also partnered up with CSA. Or the Cloud Security Alliance.

In 2018, the same year AsiaCyberX launched, ACE and CSA made a Memorandum of Agreement.

This agreement focuses on a vital partnership between key parties in these fields:

  • research areas
  • capability building
  • training

Then, there’s the latest update for this partnership this year. AsiaCyberX and CSA have renewed their Memorandum of Agreement last April 21, 2020.

Thus, renewing their partnered efforts and opening new doors for new cybersecurity projects.

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