JVP, SOSA Partner With City of New York on Cybersecurity Initiative

New York City Economic Development Corporation (NYCEDC) announced a new cybersecurity initiative Tuesday, naming Israeli venture capital firm Jerusalem Venture Partners (JVP) and Tel Aviv-headquartered startup network SOSA among its partners.

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Academic institutions, including New York University (NYU), Columbia University, and Cornell Tech, a joint venture between Cornell University and the Technion Israel Institute of Technology, will also take part in the initiative.

Called Cyber NYC, the new initiative will receive a $30 million investment from the city of New York and intends to raise an additional sum of up to $70 million from private investors.

As part of the initiative, SOSA will dedicate 15,000 square feet in its new eight-stories high building in Chelsea for a global cyber center that will offer a coworking space for startups, industry-specific events, and a virtual testing ground for simulations. JVP will operate Cyber NYC’s investment arm, Hub.NYC, which will focus on growth-stage startups and will also offer access to clients and business support.