# Infosecurity Europe agenda spotlights innovation as security leaders address cybersecurity spend in the face of economic headwinds Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2023-03-13 Category: TECHNOLOGY Category URL: https://financedigest.com/category/technology Meta Title: DSIT Competition Entries Open: Crown the UK’s Most Meta Description: Join Infosecurity Europe to showcase your cybersecurity innovation at ExCeL London, win prizes and gain recognition in the industry! URL: https://financedigest.com/infosecurity-europe-agenda-spotlights-innovation-as-security-leaders-address-cybersecurity-spend-in-the-face-of-economic-headwindshtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/istock-1131682082-1736814333463-compressed.jpg) _Entries open for DSIT competition as [Infosecurity Europe](https://www.infosecurityeurope.com/) look to crown the UK’s Most Innovative Cyber SME 2023_ Cybersecurity budgets are tipped to increase or are expected to be maintained, despite the economic downturn. This is according to over 50% of respondents to a Twitter poll conducted by Infosecurity Europe, the most influential information security event running **from 20-22 June 2023 at ExCeL London.** However, the current economic uncertainty is expected to impact on cybersecurity innovation, as 31% of respondents believe that innovation in cybersecurity training and awareness will suffer the most, with threat intelligence a close second (30.3%). With this in mind, Infosecurity [Europe has put innovation](https://www.financedigest.com/europes-top-innovators-celebrated-at-the-corporate-entrepreneur-awards.html "Europe’s top innovators celebrated at the Corporate Entrepreneur Awards ") high on the agenda for 2023. Infosecurity Europe’s network of [cybersecurity experts also recognise the need to continue to focus investment](https://www.financedigest.com/large-investment-success-for-basingstoke-cybersecurity-start-up.html "Large investment success for Basingstoke cybersecurity start-up") in these areas. **David Edwards, Vice President of [Information Security](https://www.financedigest.com/privacy-vs-security-is-the-cybersecurity-information-sharing-act-beneficial.html "PRIVACY VS SECURITY: IS THE CYBERSECURITY INFORMATION SHARING ACT BENEFICIAL?"), Payroc** said, “It’s easy to cut threat intelligence, but it’s this intelligence that enables us to make great choices on how we defend our organisations going forward. It’s also imperative we [continue to innovate](https://www.financedigest.com/equiniti-credit-services-continues-innovation-drive-with-more-it-hires.html "Equiniti Credit Services continues innovation drive with more IT hires") in those areas. Cybercriminals won’t stop innovating, they’ll be faster, quicker, smarter, and more automated. We too must make sure that we are smart, fast and automated in what we do to [stay](https://www.financedigest.com/staying-ahead-of-risk-this-black-friday.html "Staying Ahead of Risk This Black Friday") ahead.” **Sarb Sembhi, CTO of [Virtually Informed](https://www.financedigest.com/what-is-a-virtual-data-room-unveil-the-essential-information-here.html "What is a Virtual Data Room? Unveil the Essential Information Here!") and Executive on the Board of the IoT Security Foundation** noted “Last year started with the war and we had hints that there was going to be a recession. The same was threatened at the start of the pandemic, but that recession didn’t happen. At least not in the way that it has over the [last 12 months](https://www.financedigest.com/fintech-trends-to-look-out-for-during-the-last-six-months-of-2019.html "Fintech trends to look out for during the last six months of 2019"). Now in Q1 2023, we are reviewing our budgets, and hoping to see an [increase in spend](https://www.financedigest.com/should-we-be-more-cautious-about-contactless-1-in-4-young-adults-with-contactless-cards-say-theyve-increased-their-spending.html "Should we be more cautious about contactless? 1 in 4 young adults with contactless cards say they’ve increased their spending") hopefully directed to those areas of innovation such as threat intelligence, training and awareness. These are the areas that will likely have gone out the window first as businesses feel the pinch.” As part of Infosecurity Europe’s focus on innovation, for the 8th consecutive year, they have once again partnered with the Department of Science, Information and Technology (DSIT) previously the Department for Digital, Culture, Media & Sport (DCMS), to seek out the UK’s most creative and original [cyber security](https://www.financedigest.com/how-to-handle-cyber-security-during-mergers-and-acquisitions.html "How to Handle Cyber Security during Mergers and Acquisitions") companies. One of which will be crowned The UK’s Most Innovative Cyber SME 2023. The DSIT competition is open for entry until March 31st and is judged by a panel of cybersecurity experts. The winner, and 13 runners up, will be invited to [join the Cyber](https://www.financedigest.com/james-trainor-top-fbi-cyber-expert-joins-aons-cyber-solutions-group.html "James Trainor, top FBI cyber expert, joins Aon’s Cyber Solutions Group") Innovation Zone at Infosecurity Europe 2023, which will take place on June 20 to 22. The winner will be [announced at the event](https://www.financedigest.com/the-gibraltar-blockchain-exchange-announces-public-token-sale-event-to-create-world-leading-licensing-and-regulation-standards-in-the-industry.html "The Gibraltar Blockchain Exchange Announces Public Token Sale Event To Create World Leading Licensing and Regulation Standards In The Industry") and will receive a feature piece in Infosecurity Magazine. All Finalists will also receive an event stand, showcase speaking slots and a [marketing package](https://www.financedigest.com/the-nano-enabled-packaging-market-to-fathom-the-depth-of-innovation.html "The Nano Enabled Packaging Market To Fathom The Depth Of Innovation"). The contest has previously seen a host of new and innovative cybersecurity [companies apply and go on to see impressive growth](https://www.financedigest.com/different-employee-engagement-outcomes-for-u-s-and-canadian-companies-amidst-continued-economic-growth-pressures.html "DIFFERENT EMPLOYEE ENGAGEMENT OUTCOMES FOR U.S. AND CANADIAN COMPANIES AMIDST CONTINUED ECONOMIC GROWTH Pressures") and achievement. TryHackMe was crowned the winner at the event in 2022 and joined an impressive [list of past winners including](https://www.financedigest.com/veraviews-included-on-iab-global-vendor-list.html "VeraViews Included on IAB Global Vendor List") CAPSLOCK (2021), KETS Quantum Security, Check Recipient (now trading as Tessian) (2017), Device Authority (2016) and Geolang (2015). 2019 winners, Hack The Box, a UK start-up that has developed a gamified continuous cybersecurity platform, have since announced a Series A [investment round of $10.6 million](https://www.financedigest.com/sse-to-invest-122-million-in-scottish-pumped-hydro-project.html "SSE to invest 2 million in Scottish pumped hydro project") in 2021, and a further Series B funding announcement of $55 million in Jan 2023 to expand its business after racking up 1.7 million users. “The [game has changed](https://www.financedigest.com/dispute-management-mindset-changing-the-disputes-game.html "Dispute Management Mindset: Changing the disputes game") in cyber. The [rise in the volume and sophistication of cyberattacks means that demand](https://www.financedigest.com/euro-zone-likely-entering-recession-as-price-rises-hit-demand-pmi.html "Euro zone likely entering recession as price rises hit demand -PMI") for new skills is booming, and the old ways are no longer working. Hiring criteria and how candidates are assessed in this industry need to be revised, and [businesses must prioritize practical-based skills](https://www.financedigest.com/5-essential-leadership-skills-for-family-owned-businesses.html "5 essential leadership skills for family-owned businesses") and continuous training. This will help cut the red tape [holding back](https://www.financedigest.com/fear-of-failure-holding-back-british-entrepreneurs-new-research-finds.html "Fear Of Failure Holding Back British Entrepreneurs, New Research Finds") an untapped pool of highly skilled cyber talent waiting in the wings. The only way to turn the tide in the cyber war is by investing in upskilling and reskilling initiatives that equip a new generation and current security professionals for the next wave of threats.” highlighted **Haris Pylarinos, Founder and CEO at Hack The Box.** The [Innovation Showcase at Infosecurity Europe 2023 will be the place](https://www.financedigest.com/future-cheque-clearing-model-places-emphasis-on-speed-and-innovation.html "FUTURE CHEQUE CLEARING MODEL PLACES EMPHASIS ON SPEED AND INNOVATION") to be to discover, scope out and evaluate the newest cybersecurity technologies and solutions, and get to grips with how they can be deployed. [Businesses will showcase and demonstrate the exciting new products](https://www.financedigest.com/sme-productivity-programme-re-purposed-to-help-businesses-prepare-for-covid-19-economic-recovery.html "SME productivity programme re-purposed to help businesses prepare for Covid-19 economic recovery") and services they have to offer. Attendees can expect to hear real-world examples of how new [technologies and solutions](https://www.financedigest.com/peppermint-technology-revamps-communications-with-via-voice-solution.html "PEPPERMINT TECHNOLOGY REVAMPS COMMUNICATIONS WITH VIA VOICE SOLUTION") have been implemented, the customer benefits and the overall ROI. **Nicole Mills, Exhibition Director at Infosecurity Group**, says: “Businesses will undoubtedly feel threatened by the economic downturn, but pulling back on cybersecurity [investment would be a step](https://www.financedigest.com/international-investment-soars-as-albania-steps-into-global-spotlight.html "INTERNATIONAL INVESTMENT SOARS AS ALBANIA STEPS INTO GLOBAL SPOTLIGHT") backwards, so it’s exciting to see that the majority are looking to increase or maintain their budgets despite the economic uncertainty. Innovation is critical to the [future](https://www.financedigest.com/42-of-retailers-say-payment-over-time-solutions-are-very-important-to-ensuring-future-digital-innovation.html "42% of retailers say payment-over-time solutions are ‘very important’ to ensuring future digital innovation") of cybersecurity and as cybercriminals continue to innovate, we as an industry are determined to do the same in order to become smarter, safer and stronger.” Attracting 2,524 responses, the [Infosecurity Europe Twitter poll](https://www.financedigest.com/investment-in-mental-health-amongst-cybersecurity-professionals-set-to-increase-according-to-infosecurity-europe-poll.html "Investment in mental health amongst cybersecurity professionals set to increase according to Infosecurity Europe poll") was conducted during the week of 6 February 2023. --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---