Funding boost for tech start-ups looking to tackle cyber security

Funding boost for tech start-ups looking to tackle cyber security was originally published to Nimbus CS

Good news has arrived in the shape of a £50m boost for tech start-up companies. The government, who have targeted small businesses as being a key part of the UK's economic recovery, have launched a scheme which will help some of the country's most innovative new businesses. Cyber Security is a real threat to a small business, so the Department of Media, Culture and Sport (DCMS) has joined forces with GCHQ to deliver a groundbreaking new programme which will provide support for start-ups looking to be educated in the importance of computer security. The scheme, which is set to include two new accelerators that are to be managed by Wayra UK, has been set up to seek out and identify inventions within the cyber security arena. Once these innovations have been identified, the DCMS will look towards fast-tracking their commercialisation. The scheme falls in line with the government's umbrella brief of providing more business IT support to small companies in the form of educating them on cyber security. The government has committed £1.9bn to its national cyber security programme so far with the overarching aim of preparing the private businesses of the UK in the event of a cyber attack. Keen to promote vigilance when it comes to matters of computer security, Chris Ensor, the Deputy Director for Cyber Skills and Growth at GCHQ, stated: 'combining the knowledge of GCHQ with some of the country's newest start-ups is a really powerful combination and one I'm confident will deliver benefits to the cyber security of the UK.' With that in mind, the DCMS has pledged £50m to create and support two new innovation centres, while GCHQ has committed to providing not only their expertise but consultancy too. This means that participating organisations can share their experiences, which will help to develop the innovations. The Minister of State for Digital and Culture stated that the 'Two new Cyber Innovation Centres will bring together government, academic and business expertise, and will be invaluable in helping support start-up companies and develop world-class cyber technology.' With cyber threats becoming increasingly complex and more sophisticated, it would seem that the government believes that the best way to fight it is by sharing experiences and views.