SLASSCOM sets $ 500 m export revenue target with newly launched Cybersecurity Centre of Excellence

Channa Manohara

Nuwan Perera

Boshan Dayaratne

Rahal Jayawardene

The country’s sole knowledge and innovation chamber, the Sri Lanka Association of Software and Services Companies (SLASSCOM), has given birth to an ambitious new initiative with the launch of the Cybersecurity Centre of Excellence (CSCx), which aims to position Sri Lanka as a global cybersecurity hub.

SLASSCOM which has been forging ahead as the catalyst of growth for the Sri Lankan IT and BPM industry, believes CSCx can play a dominant role towards achieving an impressive goal of $ 500 million in export revenue by 2025, by positioning Sri Lanka as a cybersecurity hub, while also looking at producing 10,000 to 20,000 new cybersecurity professionals to cater to the global demand for cybersecurity products and services. 

The new initiative is set to align well with SLASSCOM’s vision of achieving an export revenue value of $ 5 billion by 2025 along with the creation of 200,000 new jobs in the IT industry and 1,000 new start-ups. 

The launch of CSCx also comes at a crucial time following COVID-19, which has resulted in an increase in cyber-attacks following a larger number of people working from home, while many businesses embrace digital platforms, resulting in cybersecurity being at an all-time high priority globally. 

SLASSCOM Chairman Channa Manoharan believes that Sri Lanka has a huge potential to be a global player in cybersecurity offerings. He said SLASSCOM’s ultimate aim is to position Sri Lanka as a high-end niche player as the country has a good opportunity to leverage and penetrate the cybersecurity market, based on the exceptional ingrown talent available in the country. “Further, through the launch of the CSCx, we are also accelerating our journey of becoming a cybersecurity hub,” he added. 

The CSCx comes under SLASSCOMs Technology Forum, which is being headed by SLASSCOM’s Board Director Nuwan Perera, who serves as the incumbent Vice President Commerce at IFS and stakes claim in contributing towards creating a vibrant technology ecosystem in Sri Lanka. 

According to Perera, SLASSCOM’s Technology Forum tackles key aspects of the IT industry including elevating the technical capability of the technical community, establishing best practices and planning future technology needs in the industry and the country. “Our focus on this all-important topic of Cybersecurity is a key step in showcasing and building capabilities of our workforce and companies related to Cybersecurity,” he said. 

With a goal aimed at creating a highly competent talent pool of cybersecurity experts, SLASSCOM’s CSCx has already laid the groundwork by working closely with government and private universities to offer recognised cybersecurity qualifications in the country. SLASSCOM’s aim is to increase the number of cybersecurity experts in Sri Lanka to at least 10,000 to 20,000 professionals within the next three to five years.  

SLASSCOM is also optimistic that it can leverage from the global cybersecurity market which at present is valued at $ 173 billion, and is expected to grow to $ 270 billion by 2026 of which 77% of Cybersecurity spending will be for externally managed security services by 2026. 

The CSCx initiative is headed by SLASSCOM Board Director Boshan Dayaratne who commands vast experience in the cybersecurity space as the Group Director/CEO of CICRA Holding. According to Dayaratne, the CSCx will play a dominant role in penetrating into the global cybersecurity market. “The centre is inviting cybersecurity service providers to join hands with this initiative to promote their products and services beyond the boundaries of Sri Lanka,” he added. 

He said that the centre aims to be the sole umbrella combining all companies and startups which offer a range of products and services for the export market on cybersecurity. “This initiative will also help us close in on SLASSCOM’s $ 5 billion target by 2025,” Dayaratne added. 

Through the CSCx, SLASSCOM is also positive that it can play a more influential role in enabling and contributing towards national level policy formulation for cybersecurity and data protection in Sri Lanka. The centre will look at working closely with the Information and Communication Technology Agency (ICTA) in supporting the government and regulators towards ensuring data protection and cybersecurity for the benefit of all organisations and businesses in Sri Lanka. 

Rahal Jayawardena, Co-Chair of SLASSCOM’s CSCx who also serves as Head of Technology Alliance and Innovation at MillenniumIT ESP elaborated that the CSCx is also pushing to build a strong ecosystem. “So, we are extending an invitation to Sri Lankan companies and startups to join the CSCx, so that we can offer complete cybersecurity services for the global market, and help propel Sri Lanka as a cybersecurity hub of the world,” he added. The CSCx together with the eco-system will develop new markets for the Sri Lankan cybersecurity products and services across Asia, Europe, Australia and New Zealand. 

SLASSCOM’s CSCx will roll out a structured plan aimed at achieving this ambitious vision which also includes the creation of a vibrant eco-system of the Sri Lankan cybersecurity service providers, startups, and education service providers to build capacity and to create a globally competitive cyber security portfolio. 

Ultimately, SLASSCOM’s CSCx intends to leverage the Sri Lankan talent to set a benchmark in the cyber security industry, which will also pave the way to contribute towards policy making at national level to elevate Sri Lanka’s cybersecurity ranking to be among the top nations in the world.