By 2019 the cost of cybercrime will reach $2 trillion dollars (Laberis, 2016) and the average cost of a security breach to an organization has risen from $4 million to $7 million from 2016 to 2017. The Identify Theft Resource Center estimated that over 29 million records were exposed through over 850 breaches in the financial, government, education, and healthcare sectors in 2016 alone.
While many large organizations have the ability to hire, support, and defend against cybersecurity attacks, many small to midsized organizations are struggling to secure their business (Keeper Security, 2016). Moreover, a small to midsize organization will spend nearly $1 million dollars to restore normal business in the wake of such an attack.
These numbers are staggering.
The U.S. Small Business Administration lists Minnesota as having a little over 500,000 small business that make up 97.7% of all businesses in Minnesota. Nearly 50% of all the people employed in the State of Minnesota are employed by a small business! That is over 1.2 million people that work for a small business. Read the full Small Business Profile Report here.
When you look at the current threats to security and the number of small businesses in the state of Minnesota, you can begin to clearly see the need to have highly skilled, trained and educated cyber specialists. Throughout the Minnesota State System there are 16 institutions that have an academic program specifically related to cybersecurity.
Along with academic programs there are also a large number of organizations that directly impact the cyber security training and options in Minnesota. Upper Midwest Security Alliance (UMSA), Information Systems Security Association (ISSA), (ISC)2, ISACA, and others all help to lead our understanding and direction in cyber security trends and solutions.
On October 23-25, the 2017 Cyber Security Summit will be held at the Minneapolis Convention Center. As a proud sponsor of this event, Minnesota State IT Center of Excellence will host a booth in the exhibition hall to inform participants of the work we will be doing to help combat cybersecurity threats through education and training.
As a sponsor, the Minnesota State IT Center of Excellence is sharing its 10% Member Discount with any faculty and staff member interested in attending the Summit. Attendees must register by October 20th and use the code ITCE17 to remit the discount. The cost for attendance is $499 (-10% discount) through October 20th for faculty and staff, and $249 (-10% discount) for Students.
Faculty and Staff Members — Your professional development dollars will provide you with 3 days of in-depth insight into the current landscape of cybersecurity, future areas of interest, new and innovative product development, and a chance to meet and talk with industry leaders across the state and nation. Make sure to register early and while at the Summit, stop by the Minnesota State IT Center of Excellence booth and learn about how we are helping move the educational needs ahead throughout the State.
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