New multi-million investment to boost cybersecurity in Danish SMEs

A new public-private partnership aims to strengthen cybersecurity in Danish small and medium-sized businesses. With the “Cybersecure Business” initiative, 23 companies in the cybersecurity industry are joining forces to donate services equivalent to DKK 33.5 million, while the Danish Industry Foundation is funding the initiative with DKK 43 million.

“We want to ensure that the initiative is ambitious, well-anchored and reaches many companies. Therefore, it is positive to see the innovative public-private collaboration materialize in practice, so that companies throughout Denmark can get concrete help to strengthen cybersecurity,” says Thomas Hofman-Bang, CEO of the Danish Industry Foundation.

The initiative is a collaboration between the Danish Security Authority and IDA, as well as the Alexandra Institute and the cybersecurity consortium Security Tech Space, both based in Aarhus.

The industry is leading the way

The 23 companies provide specific services that are often beyond the financial reach of SMEs. These include testing and maturation processes, technical advice, skills development and alerting.

According to Peer H. Kristensen, CEO of Security Tech Space, the commitment shows that the industry is taking wider responsibility.

“It’s powerful and very encouraging to see how many companies in the cyber security industry have chosen to contribute with their services. It shows that the industry is taking responsibility – not just for its own business, but for the entire digital ecosystem. Together we can make a real difference for the SMEs that are most vulnerable today,” he says.

The goal is to develop market-based solutions that match the needs and resources of SMEs.

Complexity requires new approaches

Cybersecurity is a complex and resource-intensive area for many small businesses. According to the latest figures from the Danish National Board for Social Security, 40 percent of Danish SMEs have a low level of digital security.

At the Alexandra Institute, there is a great need for practical advice.

“Cybersecurity is complex and difficult to navigate. Even for large companies. Our experts look forward to providing SMEs with concrete advice that strengthens security in practice. We excel at translating knowledge and technology into solutions that companies can use on a day-to-day basis, and working with the industry enables us to develop new solutions that are professionally sound and practical for companies,” says Niels Husted Kjær, CEO of the Alexandra Institute.

Access to specialists

A key element of the initiative is access to specialized knowledge. IDA contributes with professional courses and mobilization of experts so that companies without their own security specialists can get qualified help.

“Many SMEs have neither the time nor the capacity to build advanced cybersecurity skills internally. Therefore, it is crucial that we make specialized knowledge and advice available in new ways,” says Laura Klitgaard, President of IDA.

The business organizations Confederation of Danish Industry, Danish Chamber of Commerce and IT-Branchen also support the initiative. With up to 200,000 SMEs in Denmark, the ambition is to raise the level of security across the board and strengthen the robustness of the entire business value chain.