Government announces £250,000 start-up cyber security accelerator

The government has announced the launch of a £250,000 early-stage accelerator programme which will offer advice and support to cyber security start-ups developing solutions to protect the UK from cyber attacks.

Run in partnership with Cyber London and the Centre for Secure Information Technologies (CSIT) at Queen’s University Belfast, the programme promises to provide a collaborative space to nurture companies and help the commercial development of their products.

Funded by the Government’s National Cyber Security Programme, the scheme will aim to increase the rate of cyber security start-up development and identify and support firms that are not yet fully developed enough to secure investment independently with entries open from March 2016.

The UK’s cyber security industry has grown by 70% since 2013 to hit £17.6bn and employs over 100,000 people. Chancellor George Osborne recently announced plans to increase spending on cyber security to £1.9bn by 2020 as part of a wider strategy to support the UK security industry.

John Whittingdale, secretary of state for culture, media and sport, commented:

“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.”

Kirsten Connell, managing director of Cyber London, added:

“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.”