The Karnataka government on Friday signed an MoU worth Rs. 150 crore with SISA, a world leader in forensics-driven cybersecurity solutions for the digital payments ecosystem, at the Global Investors Meet held in Bengaluru.
As per a press statement issued after the event, this three-year agreement will strengthen innovations and skills in cybersecurity so that Karnataka becomes a prime hub for state-of-the-art research to secure digital payments.
The MoU was signed between Dr. S Selvakumar, Principal Secretary of the Commerce and Industries Department of Karnataka, and Dharshan Shanthamurthy, Founder & CEO of SISA. It aims at establishing a centre of excellence for cybersecurity in Bengaluru.
The centre will employ over 1,000 professionals working toward next-generation cybersecurity solution development.
This memorandum comes at a time when many commercial enterprises handling payment data, in large volumes, are under growing threat; thus, entering a new dimension where cybersecurity itself shall instill trust and resilience in the payment sector.
SISA, headquartered in Bengaluru, has been working on the cutting-edge of solving these problems with its forensics-driven approach to securing payment ecosystems.
The initiative will push research towards understanding emerging cyber dangers to create a resilient payment ecosystem that can weather the storm of ever-increasingly sophisticated forms of cyberattacks. This partnership, by fostering talent and building capabilities in advanced cybersecurity technologies, deepens the positioning of Karnataka as the world’s cybersecurity innovation hub.
“In signing this MoU, we see this as a bigger play toward enhancing defenses and making India stand out as an innovator of cybersecurity,” remarked Dharshan Shanthamurthy.
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