Centre to co-ordinate cyber security

Industry, researchers and governments will come together with a new centre to collaborate on cyber security.

The federal government is investing $30 million in the Cyber Security Growth Centre, as part of its National Innovation and Science agenda unveiled on Monday.

The centre will develop a national cyber security strategy hoping to make Australia a global leader and attract investment from multinationals.

The government says the initiative will co-ordinate research and reduce overlap.

The global cyber security market is worth $US71 billion ($A96.73 billion) and is growing annually at eight per cent.