Victoria has Leading global security firm Cyberinc has opened its Australian headquarters in Melbourne creating 50 new high skilled jobs.

The move has further strengthened Victoria's reputation as the Asia Pacific cyber security hub.

Cyberinc, an Aurionpro company, is a welcome addition to the growing sector in Victoria, which is home to Australia's largest cyber security cluster at the Goods Shed, Docklands.

This includes the newly opened Oceania Cyber Security Centre and the CSIRO's Data61Cyber Security and Innovation Hub.

Melbourne is also home to the cyber security teams of three of Australia's four major banks, Telstra, the National Broadband Network and BAE Systems Applied Intelligence.

The State Government of Victoria has recently signed agreements to work with global research powerhouses including Oxford University's Global Cyber Security Capacity Centre, Israel's Tel Aviv University and the Commonwealth of Virginia, the biggest defence state in the US.

Through knowledge sharing, improving research capabilities and access to expertise in cyber security, the state is investing in the sector to create more highly skill jobs and to win a bigger slice of the global industry now valued at US$71 billion annually.

Cybercrime affected 46 per cent of small and medium Australian businesses in 2015 and costs the economy around A$17 billion a year.