University of Tulsa launches cyber research, commercialization institute with projected $75M investment

In the news release issued Wednesday by The University of Tulsa over PR Newswire, we have been advised that the third sentence should read: "According to Cybersecurity Ventures, the global cost of cybercrime is set to grow from $3 trillion in 2015 to $10.5 trillion by 2025 … in order to add attribution for the source of the figures."

University of Tulsa launches cyber research, commercialization institute with projected $75M investment

TULSA, Okla., Aug. 23, 2023 /PRNewswire/ -- The University of Tulsa announced the formation of the new Oklahoma Cyber Innovation Institute to undertake groundbreaking cyber research and identify, test and commercially deploy new cyber solutions. The institute builds on the university's educational foundation in cybersecurity to address cyber workforce development issues.

According to Cybersecurity Ventures, "the global cost of cybercrime is set to grow from $3 trillion in 2015 to $10.5 trillion by 2025. Last year, more than 700,000 jobs in this field went unfilled," said TU Vice President for Research and Economic Development Rose Gamble. "The Oklahoma Cyber Innovation Institute will capitalize on decades of academic excellence at TU and expand research opportunities to include the expertise needed to put the findings into market."

The growing significance of cybercrime and the deficit of cybersecurity workforce fuel the launch of the Oklahoma Cyber Innovation Institute. According to the Cybersecurity and Infrastructure Security Agency, 33% of home computers are infected with malicious software, 47% of American adults have had their personal information exposed by cyber criminals and 44% of millennials fall victim to cybercrime. Cybersecurity Ventures reported growth in cybersecurity job vacancies from 1 million openings in 2013 to 3.5 million in 2023.

TU establishes the Oklahoma Cyber Innovation Institute with an initial $24 million investment to attract top-notch cyber talent; implement workforce development pipelines involving constituencies from across the state; construct and/or renovate key facilities; launch innovative research and commercialization programs; and scale up the necessary intellectual property development, tech transfer and commercialization infrastructure in Oklahoma. Seed funding includes $12 million from the American Rescue Plan Act with matching funds from the George Kaiser Family Foundation.

OCII anticipates more than $50 million in additional funding over five years from public and private sources to support the critical challenges addressed through their faculty, staff and student researchers solving real-world issues.

"We are looking for corporate and public sector partners who want access to the best minds in the business," said TU President Brad R. Carson. "Opportunities for sponsored cyber research, talent pipeline partnerships, facility development and/or entrepreneurial ecosystem support are all crucial."

TU was recently ranked in the top 25 schools for cybersecurity by U.S. News and World report, tied with institutions like Harvard University. The institute will attract world-class scientists and engineers to work alongside TU's renowned cyber faculty in the areas of digital transformation, critical infrastructure protection, autonomous systems and organizational security.

Full release at https://utulsa.edu/tu-launches-cyber-research-commercialization-institute/

SOURCE The University of Tulsa