R&D securing your company’s competitive position in the market

September 21st, 2017

An exciting time lies ahead for the research and development (R&D) industry as Sydney will soon be home to BT’s new global cyber security R&D centre, facilitating 172 additional skilled jobs over the next five years.monitor-1307227_960_720

The R&D hub is an expansion to BT’s existing Security Operation Centre (SOC) in Berry Street and will be the company’s first cyber R&D facility outside of the United Kingdom.

The NSW Government has provided a $1.67 million grant to BT in support of the company’s initiative to creating significant job opportunities in Sydney. As a result BT will invest $2 million into capital infrastructure and a further multi-million dollar investment to employ specialists at the hub.

The areas of expertise at the facility will consist of cyber security, machine learning, data science analytics and visualisation, big data engineering, cloud computing, data networking, and full life cycle of software engineering.

BT will also offer University graduates significant opportunities, with approximately 40 of the new roles being filled by only graduates.

The CEO of BT Security is thrilled at the new opportunity ahead to tap into cyber security skills. Cyber security is now proving to be more important than ever and there is great potential for growth in New South Wales and further afield. The R&D hub will be a significant cornerstone in the global cyber security capabilities and help BT remain competitive in its field.

BT’s new R&D facility will also provide a major boost for the economy and will be a real time nerve-centre protecting large enterprises, industries, governments and even nations from cyber attack. The centre will help keep Australia’s best cyber security talent in NSW and nurture the company’s next generation of specialists.

It is hoped that in addition to the significant job opportunities offered, the facility will also act as an incentive for Australian Citizens currently working overseas to come back home and bring their highly valuable skills with them.

In addition to securing a competitive position in the market, investing into R&D also allows businesses to claim an R&D Tax Incentive. The R&D Tax Incentive reduces the cost and risk of undertaking R&D activities for a business and supports companies doing eligible work to create new or improved products, processes and services by reducing their tax bill. To find out more contact a Swanson Reed R&D Tax advisor today, we look forward to guiding you through the R&D process.