New York City aims to become the mecca of cybersecurity innovation through Cyber NYC, a $30 million investment initiative focused on five key technology programs, the New York City Economic Development Corporation (NYCEDC) announced on Tuesday. Cyber NYC will create new talent pipelines and spark research and commercialization of security technologies, according to the Tuesday press release.

With cyberattacks taking place every 40 seconds around the world, and NYC being home to the most targeted industries–healthcare, retail, finance, tech, media–there is both a want and need for cybersecurity to flourish in the city, said the release.

SEE: Cybersecurity in 2018: A roundup of predictions (Tech Pro Research)

“New York City needs to be ambitious about cybersecurity because our future depends on it. said NYCEDC president and CEO James Patchett in the release. “Cyber NYC will fuel the next generation of cybersecurity innovation and talent, leveraging one of the world’s greatest threats to create a major economic anchor and up to 10,000 quality middle-class jobs.”

Here are the five programs the NYCEDC is investing in:

1. Global Cyber Center: In partnership with SOSA, NYC will launch a 15,000 square foot co-working space in Chelsea. The facility will foster international collaboration and innovation, and will host industry-specific events, as well as virtual testing areas to run simulations, said the release.

2. Hub.NYC: NYCEDC and Jerusalem Venture partners will develop New York’s first international cybersecurity investment hub, said the release. A 50,000 square foot building in SoHo, Hub.NYC will breed and develop major cybersecurity organizations, added the release.

3. Applied Learning Initiative: In an effort to create the next generation of cybersecurity experts, NYCEDC picked CUNY, NYU, Columbia, Cornell Tech, and iQ4 to host new cybersecurity certifications and programs for college students, said the release.

4: CUNY and Facebook Master’s Degree: Additionally, within the Applied Learning Initiative, a one-year CUNY Master’s program will be hosted on, a global learning platform online. CUNY is collaborating with Facebook on the program, said the release.

5. Cyber Boot Camp: Partnering with Fullstack Academy and LaGuardia Community College, NYCEDC will conduct a boot camp for industry-specific cybersecurity practices. Students will learn basic industry terms and software at the college, and then attend the boot camp, which will place more than 1,000 students in jobs over three years in the program, said the release.

The big takeaways for tech leaders:

  • The New York City Economic Development Corporation (NYCEDC) is launching Cyber NYC, an initiative to expand the cybersecurity sector, fostering security talent and innovation.
  • Through five tech programs–Global Cyber Center, Hub.NYC, Applied Learning Initiative, CUNY and Facebook Master’s Degree, and Cyber Boot Camp–Cyber NYC will create the next generation of cybersecurity professionals and companies.