Attractive cybersecurity subsidy for SMEs
From 1 April 2022, Austrian SMEs will be eligible to receive an attractive cybersecurity subsidy in the form of a non-repayable grant for investments of up to EUR 50,000.
Cybercrime has become an important issue for Austrian businesses in the past year due to several high-profile ransomware attacks.
This is also borne out by a PwC Digital Trust Insights Survey, which found that 7 out of 10 domestic companies are planning higher investments in IT security this year. In this regard, the subsidy comes at a good time!
From 1 April, there will be a new funding scheme for SMEs that invest in cybersecurity. SMEs that have their legal seat or a permanent establishment in Austria are eligible for a subsidy. The subsidy takes the form of a non-repayable grant of up to EUR 20,000. This amounts to a 40% subsidy for investments of max. EUR 50,000.
The range of eligible activities is surprisingly broad. The subsidy covers both investments in hardware and software that have to be capitalised, as well as services from external cybersecurity providers:
- Introduction and optimisation of corporate IT security management systems
- Measures to promote security awareness among employees
- Risk and security analyses (evaluation of threats and possible vulnerabilities) for existing or newly planned corporate IT systems
- Protection of IT systems against unauthorised access, manipulation or theft
- Minimisation of the risk of economic damage due to malfunctions or the manipulation of (sensitive) data
- Fast and competent response to IT security incidents (e.g. cyberattacks, hacking) and reduction of the number of IT security incidents in the company
- Ensuring that IT is secure and dependable
- Guaranteeing that confidential data is handled responsibly in accordance with data protection regulations (data of customers, business partners, employees, etc.)
Cybersecurity services provided by PwC are also eligible for the subsidy. In particular, our Early Warning Service (EWaS) can help to rapidly improve cybersecurity. This is particularly helpful for SMEs that may not have many (or any) in-house cybersecurity experts.
This service allows us to show our clients a real-time, outsider’s view of their company based on the current threat level. This methodology – which until recently was only available to the intelligence services – allows us to help decision-makers to prioritise measures correctly. This makes it possible to immediately identify the most acute (most dangerous) gaps in security and threats, and to deploy “cyber defence forces” in a targeted manner – FIRST THINGS FIRST!
Georg Beham’s team would be happy to answer any questions you may have about our cybersecurity services. Daniela Stastny would be glad to support you regarding any questions about cybersecurity subsidies for SMEs.
