https://www.iotworldtoday.com/wp-content/themes/ioti_child/assets/images/logo/IoTWorldToday-mobile-logo.png
  • Home
  • News
    • Back
    • Roundups
  • Strategy
  • Special Reports
  • Business Resources
    • Back
    • Webinars
    • White Papers
    • Industry Perspectives
    • Featured Vendors
  • Other Content
    • Back
    • Q&As
    • Case Studies
    • Features
    • How-to
    • Opinion
    • Podcasts
    • Strategic Partners
    • Latest videos
  • More
    • Back
    • About Us
    • Contact
    • Advertise
    • Editorial Submissions
  • Events
    • Back
    • IoT World Expo Austin
Iot World Today
  • NEWSLETTER
  • Home
  • News
    • Back
    • Roundups
  • Strategy
  • Special Reports
  • Business Resources
    • Back
    • Webinars
    • White Papers
    • Industry Perspectives
    • Featured Vendors
  • Other Content
    • Back
    • Q&As
    • Case Studies
    • Features
    • How-to
    • Opinion
    • Podcasts
    • Strategic Partners
    • Latest videos
  • More
    • Back
    • About Us
    • Contact
    • Advertise
    • Editorial Submissions
  • Events
    • Back
    • IoT World Expo Austin
  • newsletter
  • IIoT
  • Cities
  • Energy
  • Homes/Buildings
  • Transportation/Logistics
  • Connected Health Care
  • Retail
  • AI
  • Metaverse
  • Development
  • Security
ioti.com

Security


Photo of Boston skyline

Is The Future Of Cybersecurity In Boston?

Top cybersecurity companies are putting down roots in Boston. But what is fueling the move?
  • Written by Jeremy Coward
  • 7th June 2017

Top cybersecurity companies are putting down roots in Boston. But what is fueling the move?

Established companies and startups hoping to break into the increasingly lucrative cybersecurity market are making their way over to Boston — and a river of investment is prompting the move.

That’s according to Caleb Barlow, Vice President of IBM Security, one of many companies now firmly established in Massachusetts’ largest city.

With a population of over 600,000, Boston has become one of the major cybersecurity hubs in the United States, alongside San Francisco and Israel’s Tel Aviv, Barlow says.

According to research agency Cybersecurity Ventures, 35 Boston-based cybersecurity firms made the Top 500 list of the most innovative security firms worldwide in 2016.

Companies on the list included Rapid7, Apportion and Threat Stack, as well as established names in the industry such as IBM Security, Arbor Networks and Veracode, which continue to thrive in the area.

Cybersecurity Ventures says that Massachusetts is the third-largest host of top cybersecurity companies across the United States, behind California’s 150 firms and Virginia, which caters for 41 companies.

Xconomy researchers claim that over 60 cybersecurity firms can be found within an hour drive of downtown Boston — and these companies, whether they are private, launched an IPO or have been acquired, have secured over $3.6 billion in investment.

According to Barlow, it is this access to high levels of venture capital which could ensure Boston, one day, will become the “cybersecurity capital” of the world, especially as many security startups are heading to the city for access to investor funds.

What also drives such investment, however, is the city’s educational opportunities and talent.

“Boston is home to some top-notch universities that are driving technology entrepreneurship and innovation, making recent grads very desirable to these startups,” Barlow says.

Sam Curry, Boston-based Arbor Networks’ Chief Security Officer and Chief Technology Officer, agrees. The executive says the “outstanding” colleges and universities Boston offers — such as Boston University, the Massachusetts Institute of Technology (MIT) and Northeastern University — coupled with a strong market in technology, has resulted in strong talent retention.

This, in turn, brings new startups and venture capital to the area.

The financial reward for training in cybersecurity is another element likely to attract and retain a talent pool for Boston firms. According to Salary Genius, the average pay for a cybersecurity professional is $121,001 per year in the city, with a rough starting salary of $99,648.

When it comes to the top jobs, cybersecurity staff can walk away with up to $170,825 per annum.

“[Boston’s] history as a hub for technology innovation has led to a vibrant start-up and VC [venture capital] community,” Curry noted. “There is a virtuous cycle that happens when successful companies spawn new ideas and opportunities.”

With strong growth levels, the startup scene gaining momentum and heavy levels of investment, competition for customers is also on the rise. As a result, some companies which enjoy growth as independent startups in Boston can be acquired or merged into the solutions provided by larger enterprises — consolidation that IBM’s Barlow says “is already happening.”

IBM has acquired a total of 20 cybersecurity-related firms and has a history of snapping up companies in the Boston area. Big Blue purchased Resilient Systems, a Cambridge, MA-based company in April this year, joining Q1 Labs in 2011 and Trusteer in 2013, both of which are from the same region.

“Nowadays, the unfortunate reality is that your average chief information security officer has 85 products from 40 different vendors — making security a very complicated task,” Barlow noted.

“Consolidation is natural to expect in this market, and we're already starting to see that. I often say, buying a security solution is kind of like buying a car seat for you first child. No one is interested in the second best.”

Boston, like any other city, still has its challenges. According to Barlow, despite IBM being able to hire 1,000 cybersecurity staff last year, there will still be roughly 1.5 million vacancies across the industry by 2020 — and this “competition for top security talent” impacts every city.

According to the executive, Boston universities are simply “not producing” the levels of cybersecurity staff the growing industry needs.

Barlow said:

“It takes universities years to develop new programs and attract students to participate and unfortunately, just like the skills shortage, we’re also struggling to find enough skilled professors to teach the upcoming students interested in cybersecurity.

This is a major growth opportunity for Boston to emerge as a leader for training security professionals.”

Arbor’s CSO agrees, deeming the issue a “crisis globally” which needs to be addressed both at a local and industry level.

Curry calls the problem the “number one issue” which is holding the industry back, but says that handled properly, this area of investment could boost growth and “give Boston an edge over other tech-centric regions.”

The city does have the potential to capitalise on the talent shortage considering Boston’s educational establishments, strong investment and job growth — as well as reliable travel links to Europe and beyond. As startups are snapped up, enterprise players establish firm roots in Boston and investment continues to pour in, demand is only going to increase.

According to Sam King, Chief Strategy Officer at Boston-based Veracode, cybersecurity spending in Boston “continues to be strong,” and while economic factors could change this at a moment’s notice, the region “has all the building blocks” to remain a dominant player in the cybersecurity game.

“Security folks are part of a tight community and the close-knit nature of Boston helps breed collaboration and innovation,” King says.

“I think Boston will continue to be home to both established and emerging cybersecurity players. I think we’ll see increased interest and involvement from the academic institutions to fill the gap for cybersecurity talent.

And I think we have room for even better collaboration across the venture capital community, cybersecurity community and academic communities, to address the technical and social issues around security and privacy in the digital world.”

Tags: Article IIoT/Manufacturing Security Technologies Vertical Industries

Related Content


  • Caltech campus
    Robots Could Gain Sense of Touch, With New Artificial Skin
    New design can help businesses determine the presence of hazardous materials, offer greater safety for workers
  • Clearview AI Fined $9.4M Over Facial Data Scraping
    The company was ordered to delete any data it held on U.K. citizens.
  • Microsoft Ramping up Cybersecurity Service Offerings
    Three new managed services will boost the company’s presence in the security space
  • IoT Product Roundup
    IoT Product Roundup: PTC, Nokia, Arm and More
    All the latest Internet of Things products

Leave a comment Cancel reply

-or-

Log in with your IoT World Today account

Alternatively, post a comment by completing the form below:

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest News

  • 5G connectivity
    The Future of 5G Featured at IoT World 2022
  • Bosch Pioneers Quantum Digital Twin Initiative
  • IoT Deals & Partnerships Roundup: Nokia, Accenture and More
  • Robotics Featured at IoT World Conference 2022

Roundups

View all

IoT Deals & Partnerships Roundup: Nokia, Accenture and More

29th July 2022

IoT Deals & Partnerships Roundup: Nokia, SoftBank, Microsoft and More

15th July 2022

IoT Product Roundup: Nokia, Energous, Dashbot and More

6th July 2022

White Papers

View all

The Role of Manufacturing Technology in Continuous Improvement Ebook

6th April 2022

IIoT Platform Trends for Manufacturing in 2022

6th April 2022

Events

View all

IoT World Expo Austin

2nd November 2022 - 3rd November 2022

Latest Videos

View all
Image shows a road within the Curiosity Lab at Peachtree Corners

Brandon Branham, Peachtree Corners, on Smart Cities

Peachtree Corners CTO and assistant city manager chats with IoT World Today’s Chuck Martin about what’s happening at Curiosity Labs

Image shows a Beep electric autonomous shuttle

Joe Moye, Beep, on Self-Driving Shuttles

Beep’s CEO chatted with IoT World Today’s Chuck Martin about the deployment of the company’s electric autonomous shuttles

E-books

View all

How Remote Access Helps Enterprises Improve IT Service and Employee Satisfaction

12th January 2022

An Integrated Approach to IoT Security

6th November 2020

Webinars

View all

Is MQTT becoming the de facto standard of Industry 4.0? The impact of IoT on industrial automation protocols

18th August 2022

Building trust for a connected world

25th August 2022

Is MQTT becoming the de facto standard of Industry 4.0? The impact of IoT on industrial automation protocols

18th August 2022

Special Reports

View all

Omdia’s Smart Home Market Dynamics Report

7th January 2022

Cybersecurity Protection Increasingly Depends on Machine Learning

28th October 2020

IoT Security Best Practices for Industry and Enterprise

20th October 2020

Twitter

IoTWorldToday, IoTWorldSeries

The Future of 5G Featured at IoT World 2022 dlvr.it/SW6Szm https://t.co/eXWr6mfQya

5th August 2022
IoTWorldToday, IoTWorldSeries

Mars Drones Complete Testing on Active Volcano dlvr.it/SW6M4d https://t.co/mB8Suz1hzU

5th August 2022
IoTWorldToday, IoTWorldSeries

Honeywell Partnership Provides Flying Car Control Technologies dlvr.it/SW3t5n https://t.co/iFftFZaHxD

4th August 2022
IoTWorldToday, IoTWorldSeries

Driverless Autonomous Vehicles Arrive in China dlvr.it/SW3nzN https://t.co/nAVugrMzqG

4th August 2022
IoTWorldToday, IoTWorldSeries

Hyundai Reveals Futuristic Smart City With Automated Transport dlvr.it/SW3jgr https://t.co/fPaR8B0ikN

4th August 2022
IoTWorldToday, IoTWorldSeries

More Intelligently Converting DC Voltages dlvr.it/SW2tKz https://t.co/SMFWhTPpCW

4th August 2022
IoTWorldToday, IoTWorldSeries

Illinois Researchers Use AI to Teach Robots Teamwork dlvr.it/SW1DsC https://t.co/M3wqXN9JaR

3rd August 2022
IoTWorldToday, IoTWorldSeries

BMW Reveals $308M Test Track for Autonomous Cars dlvr.it/SW0D8q https://t.co/3zXFVnl4rd

3rd August 2022

Newsletter

Sign up for IoT World Today newsletters: vertical industry coverage on Tuesdays and horizontal tech coverage on Thursdays.

Special Reports

Our Special Reports take an in-depth look at key topics within the IoT space. Download our latest reports.

Business Resources

Find the latest white papers and other resources from selected vendors.

Media Kit and Advertising

Want to reach our audience? Access our media kit.

DISCOVER MORE FROM INFORMA TECH

  • IoT World Series
  • Channel Futures
  • RISC-V
  • Dark Reading
  • ITPro Today
  • Web Hosting Talk

WORKING WITH US

  • Contact
  • About Us
  • Advertise
  • Login/Register

FOLLOW IoT World Today ON SOCIAL

  • Privacy
  • CCPA: “Do Not Sell My Data”
  • Cookies Policy
  • Terms
Copyright © 2022 Informa PLC. Informa PLC is registered in England and Wales with company number 8860726 whose registered and Head office is 5 Howick Place, London, SW1P 1WG.
This website uses cookies, including third party ones, to allow for analysis of how people use our website in order to improve your experience and our services. By continuing to use our website, you agree to the use of such cookies. Click here for more information on our Cookie Policy and Privacy Policy.
X