In this special episode of Future Secured, Tom Finnigan and Jason Murrell unpack the newly released Australian Cyber Network State of the Industry 2024 report, a landmark deep dive into the shape, size and urgency of Australia’s cyber security sector.
📥 Download the full ACN report:
https://stateoftheindustry.auscybernetwork.au
Jason, who also chairs the Australian Cyber Network, walks through the key insights: the eye-watering rise in ransomware, the growing, but still under-resourced, cyber workforce, gender diversity gaps, sovereign capability challenges, and the widening disconnect between government strategy and ground truth.
More than just numbers, this conversation is a candid, behind-the-scenes look at what’s working, what’s broken, and where Australia must act now to avoid being left behind.
🧠 Key Takeaways
🛑 69% of Australian businesses were hit by ransomware in 2024, and 84% paid
💰 The average ransom paid was $1.35 million
👥 The cyber workforce hit 137,000 people, but demand still far outpaces supply
👩‍💻 Female participation jumped from 17% to 25%—a promising trend
🎓 Security science enrolments surged 186%, but readiness remains unclear
🇦🇺 97% of Australian cyber companies are locally owned, yet most startup funding comes from overseas
📉 Regional gaps remain: WA generated $500M in cyber GVA but has only 17 local firms
📢 Cyber security strategy lacks transparency, inclusion, and public engagement
🧯 Cyber readiness must become as normalised as OH&S or fire safety in every workplace
🗣️ Sound Bites
"Cybersecurity isn’t just a tech issue. It’s a kitchen table issue."
"You wouldn’t trust a pilot who’s never flown a sim. But we do in cyber."
"Culture eats strategy for breakfast—especially when it’s hidden behind closed doors."
"The ecosystem is fragile. Founders don’t want handouts—they want a fair shot."
"We can’t secure the nation in secret. We need public benchmarks and open engagement."
⏱️ Chapters
00:00 — Welcome & Intro
01:37 — What the 2024 ACN Report Reveals
03:00 — Ransomware Stats & SME Underreporting
07:35 — Cyber Workforce Growth & Diversity Breakdown
11:57 — Education, Enrolment & Skills Readiness
13:22 — Startups, Funding & Sovereign Capability
15:49 — State-by-State Capacity & WA's Undersupply
17:57 — Policy, Strategy & Transparency Gaps
22:29 — The Path Forward: Culture, Urgency, and Basic Hygiene
27:00 — Download the Full Report + Call to Action
🔗 Resources
📥 Download the full ACN report:
https://stateoftheindustry.auscybernetwork.au