Government announces new initiative to support cyber security startups

The government has launched a six-figure initiative to help startups in the UK’s thriving cyber security industry develop innovative technical solutions and bring new business ideas to fruition.

The £250k Early Stage Accelerator Programme, announced by Secretary of State for Culture John Whittingdale at the joint UK/US Global Cyber Security Innovation Summit, will be run in partnership between the Centre for Secure Information Technologies (CSIT) at Queen’s University Belfast and the Cyber London enterprise hub.

Mr 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.”

Through the new initiative, the government hopes to give early stage startups a space for collaboration and help cyber security entrepreneurs develop and test the commercial viability of their ideas, potentially turning them into businesses.

CSIT’s commercial director, Stephen Wray, commented: “CSIT is delighted to partner with Cyber London on this programme.

“CSIT and Cyber London are at the heart of the UK’s cyber security start-up ecosystem and together we bring a strength of cyber capability, a track record of producing and nurturing startups, and an ability to leverage significant additional industry and innovation support partnerships from across the globe.”

The £250k accelerator will be funded by the government’s National Cyber Security Programme and forms part of a wider plan to promote the UK’s cyber security sector, which has grown by 70% in the last three years and is now worth £17.6bn, employing more than 100k people.

Kirsten Connell, the managing director of Cyber London, said: “Naturally we’re very pleased that Cyber London and CSIT have been selected to deliver the Cyber Security Early Stage Accelerator Programme.

“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.”