Slovakia Information Technology Cybersecurity Opportunities

Cybersecurity is a critical aspect of information technology and digital infrastructure in Slovakia. The country recognizes the importance of safeguarding its digital assets and protecting against cyber threats. Overall, cybersecurity seems to become a priority both for the government and the private sector. The country has taken measures to address cyber threats effectively. Through a robust legal framework, national strategies, incident response mechanisms, public-private partnerships, education, and international cooperation, Slovakia aims to protect its digital infrastructure, critical systems, and citizens from cyber threats. Nevertheless, Covid-19 and outbreak of the war conflict in Ukraine has severely increased number of cyberattacks in all segments of local economy and there are several gaps that needs to be taken care of.

Fortinet’s Cyber Threat Landscape report shows that 78 percent of operational technology (OT) companies have experienced at least three attacks in the past 12 months. These have caused damage to productivity, revenue, brand trust, IPR and physical security. In 2022, 64 incidents were reported in industry and industrial processes, 22 of which were cyberattacks with actual physical consequences, representing up to a 144 percent year-on-year increase. And since Slovakia is a country with a large industrial and manufacturing sector, it is crucial to protect the safety of industrial technologies at the highest level. Cyber threats on industrial systems can have serious consequences, including business interruption, production losses and supply chain disruptions. Investing in OT security enables the country to be critically connected to cyber incidents.

Obsolete ICT equipment is one the issues to properly secure the systems in governmental institutions. Lack of financial resources is accompanied with demanding system of public tendering regularly taking long period of time. Cyber analysts warn that hospitals, clinics and health insurance companies might possibly lose up to half a billion euros in ransom in the event of a successful major cyberattack. The Slovak National Cyber Security Center recorded 131 of cyber incidents in the healthcare sector in 2021. According to the Annual Report of Dovera Health Insurance Company, the ransomware attacks caused serious financial losses to the hospitals paying ransom. 

Implementing robust security measures and procedures helps minimizing the likelihood of disruptions and losses of finances. Almost a third (31.3%) of SMEs is managing own cyber security issues, despite the fact that the legislation does not require them to do so. Two thirds (66.3%) of SMEs are not taking cyber security seriously. 2.4% do not have a clear idea of what the cyber security is.

U.S. cybersecurity companies have several opportunities to explore and contribute to the cybersecurity landscape in Slovakia. Here are some potential areas for cybersecurity companies to consider:

•    U.S. companies can offer consultancy and advisory services to businesses and government entities in Slovakia including conducting risk assessments, developing cybersecurity strategies and policies, performing security audits, and providing expertise on best practices.

•    Offering managed security services can be a lucrative opportunity in Slovakia. U.S. companies can provide outsourced cybersecurity monitoring and incident response.

•    Security software and solutions: U.S. cybersecurity firms can introduce and provide advanced security software and solutions to the Slovak market including technologies such as endpoint protection, network security, identity and access management, encryption, intrusion detection and prevention systems, and security information and event management (SIEM) solutions. Customized solutions tailored to local needs can be particularly beneficial.

•    Training and Education: U.S. companies can offer training and education in Slovakia to develop local cybersecurity awareness by providing special courses, workshops and certifications to local agencies, businesses and institutions.

•    Incident Response and Forensics: U.S. cybersecurity firms with expertise in incident response and digital forensics can offer their services in Slovakia. This includes assisting organizations in responding to cyber incidents, conducting investigations, and providing support in incident remediation and recovery. 

•    Collaboration with Local Partners: Partnering with established local players can help foreign cybersecurity companies understand the specific needs and requirements of the Slovak market and build trust among potential clients. Collaborating with local companies is a required tool to successfully apply for public procurement projects.

U.S. Commercial Service Bratislava can assist U.S. firms with guidance to ensure a smooth market entry to Slovakia. For more information, please contact lenka.janovska@trade.gov.
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