Europe’s first cyber security accelerator to launch in London
CyLon will be managed by the Ignite accelerator and will run as a not-for-profit venture
A 12-week accelerator programme to help a new generation of entrepreneurs build businesses around cyber security technology is set to launch in London with help from a team of experienced investors and entrepreneurs.
Cyber London (CyLon) – co-founded by Alex van Someren of Amadeus Capital Partners – will incorporate intensive collaboration, professional training and mentorship from experts, academic cybersecurity researchers, government official and senior executives of customer organisations.
With recent high profile cyber attacks such as the Sony hack, the need for robust digital safeguards and security technology is becoming not just apparent but essential. In a world where so much private information is stored online and invisible threats are becoming more sophisticated everyday, business and governments are relying on cyber security startups to protect them.
CyLon is currently open to teams with innovative business ideas in the broad field of information and security communications; the closing date is Monday 2 March. Successful applicants will receive £5,000 to cover living expenses as they participate in the first programme which will be based out of a West London co-working space in Hammersmith.
The launch is said to represent an excellent opportunity for London, with its rich heritage of computing and information security technology, to build and develop the sector alongside its already solid reputation as a global fintech hub.
Minister for the Cabinet Office, Francis Maude, said: “I warmly welcome the CyLon initiative. As part of our long-term economic plan we want to make Britain one of the safest places in the world to do business online.
“UK entrepreneurs have a significant role to play in helping to deliver better security for our citizens, our businesses, our government and our national infrastructure whilst at the same time creating jobs, generating exports, and contributing to the growth of the UK economy.”
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Someren commented: “The goal of CyLon is to help make the finest UK cyber security innovations globally successful. It has been estimated that the UK market alone for cyber security will be worth over £3.4bn in 2017, with the global market reaching $120bn.
“We’re providing a supportive environment in which innovators can share entrepreneurial experience to accelerate their business success. We have a common vision that the UK is rich in both innovation and entrepreneurship but, until now, cyber entrepreneurs have lacked an environment in which to interact and get the support they need to realise their full business potential in the global marketplace.”