For more information, contact:
This is part of an ongoing series which will feature one company every week that received the MetroConnect Prize, presented by JPMorgan Chase
In 2014, EDC released its Cybersecurity in San Diego: An Economic Impact and Industry Assessment report. According to data from 2014, more than 100 cyber firms employed at least 3,500 private sector employees and supported more than 13,000 jobs in the region. The cybersecurity industry had an economic impact of more than $1.5 billion.
Additionally, in 2014, the industry was projected to grow by more than 14 percent in San Diego, and globally, by more than 10 percent.
With impressive numbers like that, it is easy to see why San Diego has become a hotbed for cyber companies looking to take advantage of this market - especially for a company like EdgeWave, a company that began as a San Diego startup and now employs more than 65 people.
“EdgeWave’s unique combination of expert U.S. military cybersecurity veterans with advanced technology mirrors the San Diego community, and illustrates why San Diego is the right city to lead the way in securing the global economy,” said Dave Maquera, EdgeWave president and CEO.
On July 1st, San Diego Mayor Kevin Faulconer, San Diego Regional EDC, JPMorgan Chase & Co. and business and civic leaders, unveiled 15 companies, including EdgeWave, who were selected to receive the MetroConnect Prize. Managed by EDC, and presented by JPMorgan Chase, the MetroConnect Prize grants these San Diego companies $10,000 each in order to assist with developing international business opportunities.
EdgeWave secures over 6,000 companies worldwide by providing internet security, email security, next generation firewall, and network security solutions.
EdgeWave was awarded the prize based on its current relationships and its planned usage of the funds. With about 10 percent of its revenue coming from foreign sources, EdgeWave intends to target the Philippines and China as part of its international growth strategy.
“Cyber attacks threaten the growth of the global economy and we are all affected by the damage done by hackers,” said Maquera, “EdgeWave is confronting this cyber threat with a global focus. We are successfully expanding into Asia with new large enterprise customer wins and have partnered with Huawei Technologies, a worldwide information & communications technology leader, to expand into other markets around the globe.”
Global engagement is essential if San Diego wants to catalyze its economy and workforce. The benefits of companies going global and engaging foreign markets are well-documented. According to the Brookings Institution, companies that are global pay their employees higher wages, are less likely to go out of business, and spur more efficient development of technology and R&D.
Subscribe here to receive new posts every Wednesday on this topic.