London will cement its place as a world-leader in the fight against cyber attacks and threats with an investment of up to £14.5 million in a new innovation centre to develop the next of generation of cyber security technology to help keep the nation safe. The move is a big boost for capital’s booming tech sector which has had £5.6bn investment this year.
A competition to develop and design the new centre has been launched by the Department for Digital, Culture, Media and Sport.
“The investment will be made over the next three years to bolster the UK’s cyber security defences and help make the UK the best place to start and grow a digital business and the safest place to be online.”, according to the press release.
The innovation centre will see government bringing together large firms to work hand in hand with innovative startups and industry experts to develop the new technologies businesses will need to protect themselves. This will help make sure the UK’s entrepreneurs are creating the solutions the market needs and securing crucial investment.
It will give startups access to expert technical mentoring, business support and advice to help them to grow in their early stages and contribute to the UK’s thriving £22 billion cyber security sector.
Minister for Digital Matt Hancock said: London is one of the world’s most important tech sectors, with a record £5.6 billion investment in the industry in the past six months and a new tech firm formed every hour in the capital.
Our investment in a new cyber innovation centre will not only cement the city’s position as a world leader but also boost the whole country by giving UK firms access to the latest cyber technology and allowing start-ups to get the support they need to develop.
The new centre will build on London’s thriving digital start-up scene with one tech company estimated to be formed every hour in the capital. The city is also home to the headquarters of the newly created National Cyber Security Centre – a part of GCHQ – which opened earlier this year.
It is one of two new centres being developed to help make sure UK firms have access to the latest cyber technology to secure their businesses.
An innovation centre in Cheltenham opened earlier this year with the launch of the GCHQ Cyber Accelerator programme. Seven start-ups have so far graduated from the GCHQ Accelerator with a competition to find the next cohort due to close on 9 August.
In the last few weeks London has also been confirmed as leading a host of new research projects to exploring how society can benefit from the power of interconnected devices while remaining safe, secure and resilient.
The projects are part of a £25m national investment over three years and are funded by the PETRAS Research Hub (led by UCL), as part of the Government-funded IoT UK research and innovation programme, as well as Lloyds Register Foundation, industry and public sector organisations.
The innovation centre is expected to open in early 2018. This initiative is part of the Government’s £1.9 billion investment to significantly transform the UK’s cyber security. The 2016-2021 National Cyber Security Strategy sets out how the UK Government will deliver a UK that is secure and resilient to cyber threats; prosperous and confident in the digital world. The National Cyber Security Programme managed by the Cabinet Office coordinates the work undertaken to implement the UK’s National Cyber Security Strategy.
Digital Minister Matt Hancock explains how London will cement its place as a world-leader in the fight against cyber attacks and threats with Government investment of up to £14.5 million in a new innovation centre.