A new cyber centre which is set to be developed in London's Queen Elizabeth Olympic Park will boost the east London digital cluster and drive the development of cutting edge technology in the capital, the government has said today.
The £13.5m London Cyber Innovation Centre will offer a tailored programme of support to up to 72 companies over three years, and is open to all firms in the UK.
The new centre will support startups and help the UK improve its position in the global cyber security market, which is expected to be worth £69bn in 2018.
Companies selected for the scheme will be given dedicated technical and engineering support from authorities in cyber security, as well as access to the centre's facilities.
The centre will be run by tech company Plexal, and will be funded by a £1.9bn investment designed to strengthen the UK's cyber security.
According to the Department for Digital, Culture Media and Sport (DCMS), a tech company was formed every hour in London last year, as firms attracted £3bn in capital investment.
Margot James, minister for Digital and the Creative Industries, said: “London is the undisputed leader of European tech, with billions of investment flowing in every year and world-leading firms developing groundbreaking innovations.
“This new centre in the Olympic Park will build on the site’s legacy of excellence and spark a wave of creativity to develop the cyber security technology of the future and help protect the nation’s industry.”
Claire Cockerton, chief executive and founder of Plexal added:
The UK has a strong heritage in tech innovation and a fertile business environment for start-ups to grow. But our future international standing as a world-leading digitally-enabled economy depends on a robust and forward-thinking cyber security sector.
The centre will help this to develop by delivering bespoke business development programmes, engineering resource, professional services, access to corporate buyers and ambitious investors. Our mission is to bring the whole industry together to accelerate innovation, entrepreneurship and business growth for UK PLC.