UK cyber businesses are set to gain a substantial funding boost to help them to develop and grow their cybersecurity practices.
UKC3, a network of 20 regional clusters of cyber firms, will benefit from the £700,000 grant, which will help them to “develop people’s skills, collaborate and break down local barriers to growth”.
Funding will be used to “provide opportunities” for networking, knowledge sharing and funding to help develop skills and spur innovation.
Additionally, cyber businesses, employers and local organisations will now be working together to boosting UK cyber growth.
Commenting on the investment, Minister for Digital Infrastructure Matt Warman said: “Our cybersecurity sector is already worth £8.9 billion and we’re working tirelessly to take its magnificent growth to the next level.
“Our new UK Cyber Cluster Collaboration will help tackle the barriers to growth, boost people’s digital skills and give firms a new route to develop their business acumen.”
UKC3 was established to aid cybersecurity businesses and help them to build partnerships and programmes, such as skills gaps and a lack of business support, and provide a focal point for industry stakeholders to engage with.
Chair of UKC3, Richard Yorke Added: “The UK’s thriving cyber sector is recognised as world-leading and through greater collaboration, innovation and skills development we have a real opportunity to deliver growth that benefits businesses and individual citizens across the UK.
“This is an exciting and pivotal time for the cyber industry and we encourage organisations to engage with us to drive growth in the sector.”
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The funding is part of the government’s wider work to develop the UK’s strength in cyber as the country recovers from the impact of the pandemic. A new national cyber strategy is currently in development, which the government intends to publish later this year.
This latest funding is a real boost to UK tech firms, which are now prioritising cybersecurity more than ever. According to data from Hiscox’s Cyber Readiness Report in April, firms in the UK are allocating more resources to combat the “growing cyber challenge” than ever as the scale of the problem “continues to both change and grow”.
Hiscox data revealed that businesses were targeted more often in 2020 than in 2019, with 28% being targeted on more than five occasions last year.
In March, National Cyber Security Centre (NCSC) CEO Lindy Cameron warned that the UK must avoid “becoming complacent” in the face of cybersecurity threats.
“The cybersecurity landscape we see now in the UK reflects huge progress and relative strength – but it is not a position we can be complacent about,” she stated.