Valencia fortifies its cybersecurity measures

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“Telefónica investigates a suspected cyberattack from last March affecting 120,000 users”; “A cyberattack on Iberdrola exposes the data of 850,000 customers in Spain.” These are some of the most recent headlines from 2024, published across various media outlets. And these are just the ones we know about, as many companies choose not to publicize certain security breaches due to reputational costs.

The cybersecurity sector in Spain has seen notable growth in recent years, driven by accelerated digitalization and the increase in cyber threats.

Despite this, society is still largely unaware of the risks that a cyberattack, like those mentioned above, entails. There is a perception that cybersecurity is a matter for companies and governments, but individuals are the weakest link. Hence, it is doubly important to raise awareness at all levels and foster public-private collaboration in investment.

In this regard, Startup Valencia and INCIBE have launched the “Cybersecurity Startup Program.” The initiative aims to help startups from any sector or technology to incorporate cybersecurity into their value chain through three-month incubation and acceleration programs. Prizes of €10,000 will be awarded to the winning projects.

In this first edition of the program, experts from Plug and Play Tech Center, Nunsys, BeDisruptive, Geekhubs, Internxt, and Zubi Labs, among others, are participating. This lineup of specialists demonstrates the potential of Valencia’s technological ecosystem in cybersecurity, complemented by prestigious companies like S2 Grupo, which is celebrating its 20th anniversary this year and is a benchmark in cybersecurity and cyberintelligence.

Cybersecurity in Spain: Key Data and Leading Companies

The cybersecurity market in Spain reached a value of €1.3 billion in 2023, representing a 12% growth over the previous year, according to the “Investment Trends in Spain 2023” report by Bankinter. This growth is due to increasing awareness of the importance of digital security, the implementation of new regulations like the General Data Protection Regulation (GDPR) and the Network and Information Systems Directive (NIS Directive), as well as phenomena like the Ukraine War and interferences in electoral processes in neighboring countries.

Among the main cybersecurity companies in the country, we find giants like Telefónica Tech competing with companies with Valencian DNA such as the aforementioned S2 Grupo—considered a pure player due to its exclusive specialization in this sector—or Nunsys, which made headlines by acquiring another Valencian company, Sothis. Additionally, Valencia hosts the International Security and Cyberdefense Forum (CYBERSEC).

According to the Bankinter report, Spain holds a competitive position in cybersecurity: 15th globally and 8th in Europe according to the ITU Global Cybersecurity Index.

This is confirmed by Andrés Núñez Barjola, Business Area Director of S2 Grupo, who spoke exclusively to Startup Valencia for this report. “Spain holds very relevant positions in cybersecurity. Just looking at the legislative level, we had early and strict regulations with LORTAD and LOPD. This has been very important in positioning us at the forefront in this field,” says the expert.

“The consequence is that Spain has highly valuable cybersecurity professionals, and we must not allow the loss of Spanish talent in this sector, as it would be a tremendous mistake. We must consider that cybersecurity and, specifically, cyber defense, are fields where significant investment will be made over the next ten years. The war between Ukraine and Russia has made this clear,” he adds.

“Therefore, we need our country to consider this so that Spain, which has been a leader in the cyber sector, remains a leader in cybersecurity. If we do not, we will have missed an opportunity to lead a cutting-edge technology sector,” he points out.

In this regard, initiatives like those developed by Startup Valencia and INCIBE strengthen the development of talent and startups taking their first steps in a highly competitive and capital-intensive sector like cybersecurity.

Valencia: A Leading Hub in Cybersecurity

The fact that two of Spain’s leading cybersecurity companies are of Valencian origin—three until recently, considering Sothis’ acquisition—speaks to the high level of innovation in cybersecurity in Valencia.

This is also confirmed by S2 Grupo. “Valencia has positioned itself as a key technological epicenter in Spain, and this city is at the forefront of cybersecurity,” affirms the expert, sharing some business volume data from the company’s operations in our ecosystem since its inception 20 years ago. “With over 60 projects and an investment of about €20 million, we currently manage 12 ongoing projects in areas such as control system cybersecurity, artificial intelligence, cloud security, cyber intelligence, and active defense system design,” he reviews.

In addition to initiatives like INCIBE and Startup Valencia’s Cybersecurity Startup Program, sector corporates also approach the startup world through their initiatives, such as S2X: S2 Grupo’s experimentation and learning space for companies, entrepreneurs, and startups.

Valencia is a leading technological hub due to the dynamic innovation ecosystem it has created. The work of entities like Startup Valencia is crucial in this process, supporting entrepreneurs and startups to develop and grow in a vibrant and collaborative environment,” he expresses.

Public-private collaboration is essential for this development, and government support, especially through Next Generation funds and INCIBE, is vital for advancing R&D in cybersecurity. The synergy between private entities, the government, and organizations like Startup Valencia is transforming Valencia into a global reference in technology and innovation. This collaboration promises great benefits, and we must fully leverage it as a country,” he concludes.

Remote Work and Cybersecurity: The Backdoor for Cybercriminals

Taking advantage of the time Andrés Núñez Barjola, Business Area Director of S2 Grupo, dedicated to Startup Valencia to learn more about the state of cybersecurity in Spain and Valencia, we discussed other topics with the expert, such as whether the rise of remote work affects the vulnerability of companies.

According to Núñez Barjola, “remote work has greatly impacted companies’ cybersecurity because the perimeter to protect is no longer the equipment within their facilities and under their direct supervision, but the devices are now in the homes of team members, making cyber protection more complex.”

In his opinion, “the COVID pandemic came with remote work for obvious reasons, and with it, another pandemic began in the realm of cybersecurity, with ransomware incidents and cybercrime group activities multiplying.” To the extent that “2023 has seen the highest number of recorded incidents in history,” he comments.

Cybersecurity Is Everyone’s Responsibility: Awareness in Spain

We also wanted to know how aware Spanish society is regarding cyber protection. According to the expert, there is room for improvement.

“While there is an increasing level of awareness, we must continue to work hard in this area because people are the weakest link that cybercriminals find to attack us, our privacy, and put any system and our security at risk,” he argues.

“Awareness is one of the most important obligations for cybersecurity companies because investing in technology or equipment for cyber protection is useless if those using them are not aware of how their actions can affect cyber protection. In this area, we have two main problems: there is no legislation protecting us in the digital world, and the scope that can be cyber-attacked is so vast that it is impossible to cover everything. Therefore, society’s role as an active player in the country’s cybersecurity is crucial,” he concludes.

Working in Cybersecurity: A Career Path for IT Professionals… and Professionals from Medicine, Law, Philology, etc.

The imbalance between the supply and demand for technological talent worldwide is well known. But in the field of cybersecurity, it goes even further due to its high acceptance of versatile profiles.

When asked about this, the S2 Grupo spokesperson confirms that “the cybersecurity sector currently demands multidisciplinary profiles. We no longer only need engineers, although they are still needed, but people with cybersecurity knowledge from other disciplines such as Medicine, Law, Pharmacy, Philology, Psychology, etc. In reality, experts from any field because technology is present in all areas,” he explains.

“This is one of the major problems we are currently facing: there is a significant lack of talent and high capacities in the technological sector. The issue is that technology and cybersecurity are advancing very quickly, and educational institutions cannot keep up with such a rapid pace to make changes in training programs,” he points out.

Undoubtedly, programs like INCIBE and Startup Valencia’s “Cybersecurity Startup Program” are a response to this challenge.

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Fernando Ballester