Cybersecurity Health Plan with SME Funding in Singapore

3 weeks ago 31

The Cyber Security Agency of Singapore (CSA) will introduce a programme to create cybersecurity health plans with funding assistance for small-to-medium businesses (SMEs). The plan entails cybersecurity consultants serving as the “Chief Information Security Officers” (CISO) for the SMEs, like offering a CISO-as-a-Service (CISOaaS) to SMEs with difficulty employing cybersecurity staff due to a lack of manpower.

Through undergoing cyber health “checkups” and creating cybersecurity health plans, CSA hopes to inspire SMEs to strengthen their cyber defences and strive towards achieving national cybersecurity certifications like the CSA Cyber Essentials mark.

Tan Kiat How, Senior Minister of State for the Ministries of Communications and Information (MCI) and National Development, made the announcement during the most recent MCI Committee of Supply Discussion.

The scheme aims to alleviate some of the most common obstacles faced by SMEs when implementing cybersecurity measures, such as a) a lack of in-house cybersecurity personnel to address cybersecurity risks; b) a plethora of cybersecurity solutions and providers on the market, making it difficult for SMEs to decide what to implement first; and c) rising business costs.

For the first year, the CSA will give funding assistance to SMEs by co-paying up to 70% of their cybersecurity consulting fees. The scope of services will be pre-defined...

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