Internet use, cloud-based solutions, connected devices and other online services have increased consistently over the past two decades. While cybersecurity capabilities and awareness seem to be improving, the threat and sophistication of cyberattacks are still growing.

Greater investment in cybersecurity is more important now than ever. The cybersecurity sector is essential for building a resilient, green and digital Europe.

EU cybersecurity companies struggle to get loans and other financing to expand their businesses, because they are often considered high-risk investments. While the European Union has many promising and innovative cybersecurity companies, some are relocating to other parts of the world, partly because Europe lacks the specialised venture capital funds the firms need.

EIB advisory services examined the European cybersecurity market and the needs and demands for financial and non-financial services to support the sector’s growth. Advisory experts recommended setting up a new fund to support cybersecurity, increase the amount of finance available to these fast-growing companies and attract more investment from the private sector.