The initiative aims to bolster cybersecurity innovation and skill development in the region
Bengaluru is set to establish India’s first hardware security lab after SISA, a cybersecurity firm specialising in forensics-driven solutions for the digital payments industry, signed a Memorandum of Understanding (MoU) with the Karnataka government.
The agreement, valued at Rs 150 crore over three years, was signed during the Global Investors Meet in the city. The MoU was formalised by Dr. S Selvakumar, Principal Secretary of the Commerce and Industries Department, Government of Karnataka, and Dharshan Shanthamurthy, Founder and CEO of SISA.
The initiative aims to bolster cybersecurity innovation and skill development in the region. The upcoming cybersecurity centre in Bengaluru will accommodate up to 1,000 professionals, focusing on developing advanced security solutions for the digital payments ecosystem.
“As digital transactions continue to surge with the adoption of blockchain, contactless payments and digital currencies, the risks of data breaches and financial crime have reached unprecedented levels. This evolving threat landscape poses severe challenges for businesses that manage vast volumes of sensitive payment data, making cybersecurity an essential pillar of trust and resilience in the payments sector,” the officials said.
The collaboration is expected to drive research and innovation to counter emerging cyber threats, ensuring the security of digital transactions. Officials highlighted that the project would enhance Karnataka’s position as a leading hub for global cybersecurity talent and innovation.
“This initiative will drive research to address emerging cyber risks, ensuring the payment ecosystem remains resilient against sophisticated attacks. By fostering talent and building capabilities in cutting-edge cybersecurity technologies, the agreement underscores Karnataka’s position as a hub for global cybersecurity talent and innovation,” the officials added.
Speaking about the partnership, Dharshan Shanthamurthy, Founder and CEO of SISA, emphasised the importance of strengthening cybersecurity measures to protect digital transactions.
“As digital transactions become the backbone of economies worldwide, securing payment infrastructures is more critical than ever. This initiative will not only help address the rising threats in the payment industry but also strengthen India’s standing as a cybersecurity powerhouse,” he said.
The establishment of the hardware security lab marks a significant step towards enhancing India’s cyber resilience, particularly in the fast-evolving digital payments sector.