Ammon News - The Information and Communications Technology Association of Jordan (int@j) has signed a project document to establish and manage the first business incubator for cybersecurity startups.

In a statement Sunday, the association said it will establish and launch the project in cooperation with the Innovative Startups And SMEs Fund (ISSF) and in partnership with Zain Jordan and a number of cybersecurity and entrepreneurship stakeholders.

CEO of int@j Nidal Bitar said that the incubator will help cybersecurity startups to upgrade their performance over a two-year period and empower them to come up with novel solutions for future services.

He pointed out that the primary role of the incubator will be to focus on finding preventive and deterrent solutions to cyber attacks, by supporting and nurturing 15 startups in this domain.

Bitar noted that the world spent about $152 billion on cybersecurity services and products in 2020, while spending is likely to increase by 30 percent to $208 billion by 2023.

CEO of ISSF Laith Al-Qassem explained that the fund aims to create new economic sectors that harness the creative and specialized talents of Jordanian entrepreneurs and administrative teams to serve export markets.

This partnership on the part of Zain Jordan comes to complement its innovation platform, Zain Innovation Campus (ZINC), in supporting entrepreneurs and startups.

It is noteworthy that Zain owns a regional center for data storage, information and disaster recovery.