Matt Hancock

Matt Hancock

New £14.5m cyber security innovation centre to be based in London

The UK Government has announced that it is set to pump £14.5m into a new cybersecurity innovation centre in London.

The investment will be made over the next three years to bolster the UK’s cyber security defences and help make the UK the best place to start and grow a digital business and the safest place to be online.

The innovation centre will see government bringing together large firms to work hand in hand with innovative start-ups and industry experts to develop the new technologies businesses will need to protect themselves. This will help make sure the UK’s entrepreneurs are creating the solutions the market needs and securing crucial investment.

It will give start-ups access to expert technical mentoring, business support and advice to help them to grow in their early stages and contribute to the UK’s thriving £22bn cyber security sector.

Minister for digital, Matt Hancock, said: “London is one of the world’s most important tech sectors, with a record £5.6bn 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.

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.

In the last few weeks London has also been confirmed as leading a host of new research projects to exploring how society can benefit from the power of interconnected devices while remaining safe, secure and resilient.

The projects are part of a £25m 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.

You can watch the full announcement here: