The UK Government has announced a new scheme that seeks to help cyber security startups develop new technical solutions that will serve to protect the country from attacks.
Cyber security startups will receive advice and support through the ‘Early Stage Accelerator Programme’ to further develop their products and take them to market.
The £250,000 programme will be run in partnership by Cyber London and the Centre for Secure Information Technologies (CSIT) at Queen’s University Belfast.
Speaking at the joint UK/US Global Cyber Security Innovation Summit at the British Museum in London, John Whittingdale, Secretary of State for Culture, Media and Sport, said:
“The UK’s strong and growing digital economy is changing the way we live and work. As technologies continue to evolve there will be an increased demand for secure products and services, and this new programme will ensure the best ideas from our brightest minds can help keep the UK safe in cyberspace.”
The new support programme is expected to increase the rate of new cyber security startup development and help identify new business ideas from the UK’s leading cyber security knowledge base.
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Funded by the Government’s National Cyber Security Programme, the Early Stage Accelerator Programme — open for applications in March — will support ideas that may be currently struggling to secure investment funding.
Kirsten Connell of Cyber London, which will co-run the programme, noted: “Naturally we’re very pleased that Cyber London and CSIT have been selected to deliver the Cyber Security Early Stage Accelerator Programme. We believe the UK is one of the world’s best places to build cyber security businesses, and this programme will help to make it easier for innovation to develop into commercial success.”
The news comes after the Chancellor of the Exchequer George Osborne announced his commitment to increasing spending on cyber security to £1.9 billion by 2020 in November last year.