The Australian Government is supporting Canopus Networks and UNSW Sydney with a $433,000 grant to enhance AI-driven cybersecurity for small and medium-sized enterprises (SMEs). This initiative aims to safeguard vulnerable businesses from cyber threats, which significantly impact 43% of SMEs. By commercializing advanced AI technology developed at UNSW, the project focuses on detecting and preventing data breaches in cloud environments. With cybersecurity solutions projected to grow into a $148 billion Market, Canopus Networks is positioning itself as a leader in providing intelligent, proactive security systems. This effort not only strengthens Australia’s cybersecurity capabilities but also addresses a critical gap in protection for SMEs amidst increasing cybercrime.
Australian Government Supports AI Cyber Defense for Small Businesses
SYDNEY, March 24, 2025 – Canopus Networks and UNSW Sydney have recently secured a $433,000 grant from the Australian Government’s Economic Accelerator Ignite Program. This funding will enable them to enhance cyber defenses specifically tailored for small and medium-sized enterprises (SMEs), often the targets of cyber threats.
The Importance of AI in Cybersecurity
Cybercrime poses a significant risk for SMEs, with research indicating that 43% of all attacks focus on small businesses. Alarmingly, 82% of ransomware incidents affect SMEs, which often lack the resources to adequately defend against such threats. The average cost of a data breach is a staggering $4.88 million, and 60% of SMEs that suffer a breach close within six months. Therefore, the push towards AI-powered cybersecurity solutions is not just beneficial, but essential.
Bhaskar Dutta, Chief Product Officer of Canopus Networks, explains, “The future of cybersecurity isn’t just reactive defense – it’s proactive, AI-native security that learns, adapts, and protects swiftly.” By integrating cutting-edge AI technology, Canopus aims to offer intelligent defense solutions that are accessible and affordable for SMEs.
Connecting Research to Practical Solutions
The initiative, named “Commercialising AI for Detecting and Preventing Data Breaches in the Cloud,” builds on extensive research from UNSW Sydney. Researchers A/Prof. Hassan Habibi Gharakheili and Dr. Minzhao Lyu have developed AI models capable of detecting covert data exfiltration and malware communication. These advancements are now ready to be brought to Market by Canopus Networks.
Himal Kumar, CTO of Canopus Networks, states, “We believe that Australia must develop its own cybersecurity capabilities to reduce reliance on foreign technologies. Our AI-driven solutions utilize advanced technology to enhance data breach detection and prevention across cloud environments.”
Targeting a $148 Billion Market
As the demand for AI-driven cloud-native cybersecurity grows, the Market is projected to reach $148 billion by 2032, growing at a 22.5% annual rate. This initiative positions Canopus Networks at the forefront of this expanding Market, paving the way for future intelligent, self-defending cloud infrastructures.
In conclusion, the partnership between Canopus Networks and UNSW Sydney represents an important step in safeguarding small businesses from increasingly sophisticated cyber threats. Through innovative AI solutions, they aim to protect the backbone of the economy—our SMEs.
Tags: Cybersecurity, AI, Small Business, Australian Government, Canopus Networks, UNSW Sydney, Data Breaches, Grant, Economic Accelerator, Cloud Defense.
What is the grant awarded to Canopus Networks and UNSW Sydney for?
The grant of $433K is for developing and commercializing AI-powered cloud security solutions. This funding comes from the Australian Government to support innovation in cloud technology.
How will this AI-powered cloud security work?
The new AI-driven system will help protect cloud services from cyber threats. It will use artificial intelligence to monitor and secure data, making it safer for businesses and users.
Why is cloud security important?
Cloud security is important because many companies store vital information online. With increasing cyberattacks, strong security measures are needed to protect sensitive data and maintain user trust.
How can businesses benefit from this technology?
Businesses can benefit by having a more secure environment for their data. This technology aims to reduce risks of data breaches and enhance their overall security posture.
What steps are next for Canopus Networks and UNSW Sydney?
The next steps involve developing the technology and collaborating with industry partners. They will work towards bringing this AI-powered cloud security solution to Market efficiently.