Page 71 - Cyber Defense eMagazine January 2023

Europe Envies America’s Cybersecurity Industry. What

Can We Learn from It?

Europe’s cyber industry has huge potential. Copying what’s worked in the US is a route to
realising that promise.

By Carlos Moreira Silva and Carlos Alberto Silva, Managing Partners at 33N Ventures

America’s cybersecurity industry is far and away the world’s best. It’s hard to argue with the fact that of
the 20 largest cybersecurity firms by market capitalisation, 15 are from America.

Europe’s cyber industry has a long way to catch up. It is home to just one of the top 20 largest
cybersecurity firms. Czech-founded antivirus provider Avast was founded nearly three decades ago. If
Europe wants to match America’s successes, it must learn from them.

Learning from the best

A recent European Commission report picked up on the lag between the US and Europe, arguing that
the region’s cyber startups “tend to underperform against their international peers”, are “fewer in number”,
and “generally raise less funding”.

Cyber Defense eMagazine – January 2023 Edition 71
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