£14.5m pledge will 'cement' London as cyber security leader
The Government has pledged a further £14.5m to ‘cement’ London’s place as a world-leader in the fight against cyber attacks.
A new innovation centre will develop the next of generation of cyber security technology to help keep the nation safe.
The investment has been heralded as 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 also been launched by the Department for Digital, Culture, Media and Sport.
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.
The innovation centre will see government bringing together large firms to work hand in hand with innovative start-ups 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.
Minister for Digital Matt Hancock said: “London is one of the world’s most important tech sectors, with a record £5.6bn 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 innovation centre 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.
It is one of two new centres being developed to help make sure UK firms have access to the latest technology.
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 August 9.