A new government-supported scheme to support the UK’s developing cyber security sector will help cyber startups, small businesses and scale-ups in launching and growing their businesses.
Funded by the Department for Digital, Culture, Media and Sport (DCMS), the new programme Cyber Runway will see entrepreneurs and businesses across the UK to receive access to business masterclasses, product development support, mentoring, networking events, and backing to trade internationally and secure investment so they can turn their ideas into commercial successes.
Delivered by Plexal in partnership with Cylon, Deloitte and The Centre for Secure Information Technologies (CIST), Cyber Runway will aim to support at least 160 organisations and companies over the course of six months.
In the last year, the cyber security sector’s revenue grew by 7% and the number of companies in the sector grew by 21% The sector is now worth £8.9 billion.
Companies participating in DCMS’s cyber growth initiatives in the past have on average, more than tripled their revenues year on year.
Minister for Digital Infrastructure Matt Warman said:
”The UK’s cyber sector is booming and we’re working tirelessly to ensure the benefits are felt by businesses and individuals right across the country.
“Our new Cyber Runway programme will help tackle barriers to growth, increase investment and give firms vital support to take their businesses to the next level.
”Cyber Runway will promote growth across the UK with a particular focus on Scotland, Northern Ireland, Wales, the North East, North West and South West of England to support the government’s levelling up agenda. Much of the activity will build on the success of emerging cyber hubs such as Cheltenham, Manchester, Belfast, Cardiff, Glasgow and Edinburgh.
”The programme will also support founders and innovators from a diverse range of backgrounds - targeting applicants from underrepresented groups in the UK’s cyber sector such as women and people from black, asian and minority ethnic backgrounds.”