£250,000 pledged for cyber security enterprise » SMEInsider

£250,000 pledged for cyber security enterprise

The government has launched a funding programme to support cyber security startups as part of a move to safeguard the UK from cyber-attacks.

The £250,000 Early Stage Accelerator Programme will help new firms that offer cyber security solutions to develop innovative technical products and service and bring them to market.

Run in partnership between Cyber London and the Centre for Secure Information Technologies (CSIT) at Queen’s University Belfast, the programme is the first in its kind for the cyber security sector.


Fledgling support

Ministers are working to promote the industry in the UK, which has grown by 70 per cent since 2013 to its current value of £17.6bn. However, it can be difficult for new enterprises to attract investment because their solutions are in their infancy.

The new scheme, funded by the government’s National Cyber Security Programme, will target these fledgling firms that might otherwise flounder. It will open for applications in March.


A digital world

Speaking at the joint UK and US Global Cyber Security Innovation Summit at the British Museum, culture secretary John Whittingdale 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.

“I’m delighted to announce Cyber London and CSIT Belfast as partners in running this new programme.”