Tech Nation to accelerate growth of UK’s top cyber security startups
Entrepreneur network Tech Nation is launching Cyber, its first programme aimed at accelerating growth of the most promising cyber security startups.
The organisation is looking for 20 firms with the potential to compete alongside the biggest players in the global cyber security market.
From April, chosen founders and leadership teams will undergo a six-month, non-residential programme that will offer access to scaleup expertise and equip them with the knowledge and connections required to unlock growth in domestic and global markets.
Participating firms will also be involved in a showcase trip organised with the Department of International Trade.
The startups will be chosen by a judging panel of cross-industry experts including Robert Coles, chief information security officer for the NHS; Dr Emma Philpott, chief exec of certification agency IASME; Talal Rajab, of techUK’s Cyber and National Security programmes; and others.
Government data shows there are over 800 cyber security businesses headquartered in the UK, with 89% of that figure classified as small- and medium-sized enterprises.
But during Q4 2018 an estimated 30 million cyber attacks hit the UK – and the scope and reach of digital crime is growing, according to Tech Nation.
Gerard Grech, Tech Nation CEO, said: “The UK is an acknowledged leader in cyber security and many successful businesses – large and small – are headquartered here.
“But it can be a challenging marketplace for young businesses that are seeking to expand. In the security field there are specific challenges to scaling, for instance startups will often be targeting corporate buyers and building trust and credibility can sometimes seem like an impossible task.”
He continued: “Equally, partnerships with other providers can play a key role in the growth story.
“So regardless of the quality of the product, a company’s ability to grow will often depend on industry knowledge and connections, which is why we’re delighted to announce this latest scaling program for cyber companies to be launched by Tech Nation.”
Margot James MP, Digital Minister, said: “To stay ahead of cyber threats it is crucial we support and promote our world-class cyber security industry.
“Tech Nation’s new programme will not only help young businesses to expand but ensure our thriving cyber sector continues to grow.”