Does Cybersecurity Grant Funding Help Keep Us Safe?

How can cybersecurity grant funding help keep us safe? In the modern world, everything interconnects, especially our data. Along with many advancements in technology, there is also an increase in security vulnerabilities that can jeopardize that technology. Enhanced technology affords us a great deal of added convenience, whether in small businesses, major corporations, or day-to-day life. However, with that added convenience comes an escalating level of risk, especially regarding data privacy and security. Cybersecurity has become a significant topic of conversation as corporations and government agencies attempt to meet the ever-growing technology demands. This is where cybersecurity grant funding can play a vital role!

GrantWatch is a leading grant database that lists technology and cybersecurity grants, including those funded by state and federal government agencies. Project funding may focus on everything from building better digital infrastructure to funding computer science programs in schools. One of the most significant problems currently experienced is a lack of trained engineers capable of meeting current security personnel demands. According to the 2024 State of Cybersecurity report by CompTIA, there were over 660,000 cybersecurity-related job openings in the United States between May 2022 and April 2023, marking a 28% increase compared to the same period in 2020. This demand highlights the critical need for skilled professionals in the field​.

Quick 2024 Funding Update

A lot is missing from the discussion surrounding cyber security. There is a lack of proper infrastructure, not enough of a skilled workforce, and inadequate funding to address growing issues adequately. However, there is hope! Over the last few years, the federal government has increased funding for cybersecurity-related grants. The 2024 budget includes 3B in new funding for the Cybersecurity and Infrastructure Security Agency, a 103 million increase over the previous year. Additionally, grant funding through the federal government, many of which are available on GrantWatch, grew by $1.825 billion in 2024.

More Funding Is Warranted As Concerns Intensify

While talking about what could result when there is an insufficient number of skilled workers available and the potential threat that could pose, we need to be aware of our present reality. Here are some critical facts and statistics to know when addressing this issue:

• It is estimated that a cyber attack occurs 2,200 times every single day—that’s one attack every 39 seconds!
• In 2024, the most common type of cyber attack is phishing. 96% of phishing attacks are delivered via email.
• There were approximately 317.59 million ransomware attacks in 2023, with North America being the largest target, receiving 43% of industrial ransomware attacks
• The annual cost of cybercrime globally is expected to reach US$9.5 trillion in 2024 and $10.5 trillion by 2025​.
• The average cost of a data breach was $4.45 million in 2023.
• For the 12th year in a row, the United States has the highest cost of a data breach at $5.09M.
• Almost half (43%) of data breach incidents impact small businesses. In total, 95% of all breaches impacted government organizations, retail companies, or technology companies

Cybersecurity Grant Funding Opportunities

1. Projects Related to Cybersecurity – Grants to colleges, universities, and nonprofits for cybersecurity. Funding supports research and education projects addressing cybersecurity and privacy.
2. Municipalities to Improve Cybersecurity – Up to $25,000 to municipalities to support improvements to cybersecurity technology. Grants helps remediate cybersecurity vulnerabilities and be better positioned to defend against cybersecurity threats.
3. Mathematical Models to Measure Cybersecurity – Opportunity for IHEs to compete to develop software algorithms and mathematical models that measure the strength of a system’s cyber security.
4. School Districts to Address Cybersecurity Risks – Grants to address security risks and threats to information systems. Funding strengthens cybersecurity by implementing multi-factor authentication and managed detection and response projects.
5. In-Kind Software Donations – In-kind donations to nonprofit and for-profit organizations to address cyber-security issues. Grantees will receive software and resources. 
6. Prevent Hate Crimes Against Nonprofits – Funding for projects like training, contractual security services, equipment, and personnel. 
7. Undergrad and Grad Cybersecurity Scholarships – Scholarships for undergraduate and graduate students studying cybersecurity. Funding supports a qualified workforce to strengthen security for local, state, and government agencies.
8. Collaborative Projects Addressing Internet Security – Grant funding to nonprofit scientists for collaborative internet security research projects. Funding supports partnerships that address issues related to cyber security.

The Conclusion is Clear

It’s more crucial than ever to have the proper cybersecurity grant funding available to help secure the technology that powers our lives. For more information and expert advice, tune into GrantTalk, Episode 17, with host Libby Hikind. Her fascinating conversation with Elliot Rosenfeld highlights the importance of cybersecurity as an ongoing process that requires attention to both technological solutions and user behavior. Check it out!

About GrantWatch

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