London to get £14.5 million cyber security centre

Up to £14.5 million will be made available to develop a new major cyber security innovation centre in London. A competition to develop and design the new innovation centre, which will help to keep the nation safe by using advanced cyber security technology, has been launched by the Department for Digital, Culture, Media and Sport. The investment will help make the UK the best place to start and grow a digital business and the safest place to be online. It is part of a £25 million national investment over three years and is 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. The centre will see government rounding up large firms to work alongside innovative startups and industry experts to develop the new technologies businesses will need to protect themselves. This will help to ensure the UK’s entrepreneurs are creating the solutions the market needs and securing crucial investment. It will give startups access to expert technical mentoring, business support and advice to help them to grow in their early stages and contribute to the UK’s £22 billion cyber security sector. The new centre will develop London’s thriving digital start-up scene with one technology company estimated to be formed every hour in the capital. It is one of two new centres being developed to help make sure UK firms have access to the latest cyber technology to protect their businesses. Matt Hancock, Minister for Digital, 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.”