Cybersecurity threats are constantly evolving worldwide. As the data economy and digitalization increase, so do the size and impact of modern threats, given that more than traditional security measures may be needed to keep up with the challenges.

According to the 2023 Cybersecurity Index by Cisco, 82% of companies responding to the survey say they expect a cybersecurity incident to disrupt their business in the next 12 to 24 months. And a mere 15% of organizations globally are adequately prepared for potential risks.

The cost of being unprepared can be substantial, as 60% of respondents said they had a cybersecurity incident in the last 12 months and 41% of those affected said it cost them at least $500,000.

The evolution of threats highlights the need for organizations to stay vigilant and adopt proactive measures to protect their systems and networks against cyberattacks.

The increasing frequency and severity of cyberattacks have highlighted the importance of cybersecurity for organizations of all sizes and this has prompted a growing demand for startups with related solutions and services, providing an attractive market for investors.

Growing challenges

With the coronavirus pandemic, companies have transitioned from a largely static operating model where people operated from single devices from a single location, connecting to a static network, to a hybrid world.

Here employees increasingly connect to multiple networks from multiple devices in multiple locations, access applications in the cloud and on the go, and generate an enormous amount of data. This presents new and unique cybersecurity challenges for companies.

In Türkiye, government and public institutions' investments in cybersecurity products and services remain insufficient. Therefore, it is crucial to increase related investments, given the growing importance of cybersecurity in today's digital landscape.

Below-average readiness

Meanwhile, the Cisco study showed a stark finding that only 15% of companies are at the "Maturity" stage, while more than half (55%) of global companies fall into the "Beginner" or "Formative" stages – meaning they are performing below average on cybersecurity readiness.

Didem Duru, general manager of Cisco Türkiye, said just like in the rest of the world, the hybrid model has gained significant momentum in Türkiye as well after the pandemic.

"With the rise of multi-cloud architectures and hybrid work, companies have become much more vulnerable to cyber risks. It is essential for companies to be more flexible and invest in this area to eliminate these risks and close the security gap. At Cisco, we provide them with all the support they need during this process," Duru said.

Cybersecurity training

Of the companies that were ranked "Mature," 53% said they were "very confident" in the ability to stay resilient against potential cyberattacks in the next 12 to 24 months.

On the other hand, only 30% of companies in the "Beginner" stage and 34% in the "Formative" stage said the same.

Furthermore, 86% of the respondents said they plan to increase their security budgets by at least 10% over the next 12 months.

One of Türkiye's leading technology and communications companies, Türk Telekom owns the largest cybersecurity center in the country and continues to share its experience in the field with young people.

Young people participating in training to protect the "cyber homeland" have the opportunity to shape their future by becoming part of the future "cyber heroes." The work is expected to continue in 2023.

Investment in DefensX

Cybersecurity threats are among the most significant problems in the internet and technology world. Many ventures offer their customers a safer internet experience with innovative solutions.

DefensX, an experienced startup with novel secure browser technology against browser-exploiting breaches, said it had received a new investment this week. a

DefensX announced the agreement with Revo Capital, one of the most important investors in the startup ecosystem in Türkiye.

Founded by Halis Osman Erkan and Murat Demirten in the United States, DefensX focuses on enabling users to work safely on any network or device.

It offers a solution, especially against cybersecurity threats that may come via internet browsers. It says it can isolate threats before reaching end-point devices like desktops, laptops, smartphones, and tablets.