Today the UK Department for Digital, Culture, Media & Sport announced an invitation to tender in a competition to develop and design a £14.5 million innovation centre to foster the next of generation of cyber-security technology.
The investment will be made over the next three years to bolster the UK's cyber security defences. It will bring together large firms to work with innovative startups and industry experts to develop the new technologies businesses will need to protect themselves. The aim is for the startups to be able to access access expert technical mentoring, business support and advice as well as securing crucial investment to help them to grow in their early stages.
Announcing this addition to the UK's £22 billion cyber-security sector, Minister for Digital Matt Hancock said: “London is one of the world's most important tech sectors, with a record £5.6 billion investment in the industry in the past six months and a new tech firm formed every hour in the capital.
“Our investment in a new cyber-innovation centre will not only cement the city's position as a world leader but also boost the whole country by giving UK firms access to the latest cyber-technology and allowing start-ups to get the support they need to develop.
“The new centre will build on London's thriving digital start-up scene with one tech company estimated to be formed every hour in the capital. The city is also home to the headquarters of the newly created National Cyber Security Centre - a part of GCHQ - which opened earlier this year.
“It is one of two new centres being developed to help make sure UK firms have access to the latest cyber-technology to secure their businesses.”
Hancock noted how an innovation centre in Cheltenham opened earlier this year with the launch of the GCHQ Cyber Accelerator programme. Seven start-ups have so far graduated from the GCHQ Accelerator with a competition to find the next cohort due to close on 9 August.
London is also leading a host of new research projects exploring how society can benefit from the power of interconnected devices while remaining safe, secure and resilient. The projects are part of a £25 million national investment over three years and are funded by the PETRAS Research Hub (led by UCL), as part of the Government-funded IoT UK research and innovation programme, as well as Lloyds Register Foundation, industry and public sector organisations.