ZoneFox Opens London HQ in New Cyber Innovation Centre
ZoneFox is one of the first UK companies to receive support from the London Office for Rapid Cybersecurity Advancement (LORCA) innovation centre.
The London Office for Rapid Cybersecurity Advancement (LORCA), a new centre for cyber innovation, was opened yesterday by Matt Hancock, Secretary of State for Digital, Culture, Media and Sport (DCMS).
The goal of LORCA is to position the UK as a global leader in the growing field of cyber security and to help keep the nation safe from online threats.
LORCA will help some of the UK’s brightest cyber security stars across all stages of growth address business challenges and achieve greater impact with their innovative solutions.
The ten organisations that will make up its first cohort, including Scottish cyber security and insider threat specialist Zonefox and B-Secur which specialises in using biometric heartbeat solutions as a means of authentication, as well as for health and wellbeing purposes.
LORCA also announced that Lloyds Banking Group will be the first founding partner. As part of its mission to ensure the financial services sector is sufficiently prepared for cyber crime, Lloyds Banking Group will be closely involved in selecting and supporting innovators, over and above Government funding, with a specific focus on cyber security in the financial industry.
Plexal will run the £13.5m innovation centre at Here East, on the site of London’s Olympic Park. LORCA will be delivered in partnership with Deloitte’s cyber team and the Centre for Secure Information Technologies (CSIT) at Queen’s University Belfast in a cross-disciplinary team with strategic, entrepreneurial, engineering and cyber security technical skills.
Matt Hancock, Secretary of State for Digital, Culture, Media and Sport, said:
“Britain’s future prosperity will be based on its digital technology and no technology can work without cyber security so expanding this sector is critical to our future.
“It’s fantastic to open this new centre where some of our most talented entrepreneurs and innovative companies will develop the cyber security technology of tomorrow. This will boost London’s booming tech sector and benefit businesses across the country.
“We are investing £1.9 billion to protect the nation from cyber threats, have introduced new laws to strengthen our defences, and developed a wealth of free help and guidance for businesses available through our National Cyber Security Centre.”
Business Still at Risk
The centre’s opening coincides with specially commissioned research by LORCA that reveals more than 50% of large businesses have suffered a cyber-security attack in the last 12 months, and almost a quarter of UK businesses (24%) don’t think their cyber security solutions are fit for their needs.
As the threat of cyber crime to business increases, the new study of 500 UK ‘C-level’ executives also reveals that more than half (53%) do not have an official protocol in place to deal with cyber attacks.
70% of businesses surveyed said they had not purchased a cyber security solution from a startup company or SME in the last two years. When asked why 37% of SMEs reported awareness of the solution as the key challenge. This contrasts to larger companies in the survey, where 47% responded that integration concerns were considered the most significant barrier.
Dr Jamie Graves, CEO ZoneFox said:
“The UK has so much cyber talent and the mission of LORCA is to get that recognised on a global scale and help innovative start-ups grow their businesses. The support and networking that it will give start-ups and scale-ups such as ourselves will be a potential force multiplier for our business. In particular we’re looking forward to working and networking with other international cyber clusters and expanding our London footprint to accelerate the significant growth we have achieved over the last 18 months.
“I think that the LORCA research out today hits upon a key point. SMEs and enterprises do not face the same challenges; when it comes to security there is no one-size-fits-all solution. SMEs don’t have the resources or internal expertise to know how to best defend themselves against cyber attacks; they need a partner. And for enterprises they need to see that the days of being ‘locked in’ to one solution are long gone. Today’s tech platforms – cyber included – are all about interoperability. They have to be, cyberestates are complex enough; transparency and actionable insight is the name of the game.
“ZoneFox is thrilled to be invited as one of the first cohort of later stage innovators to receive support from LORCA. We are looking forward to working with LORCA and its wider network to drive ZoneFox’s growth and help secure the UK’s position as a global leader in the growing cyber security sector.”
Lydia Ragoonanan, Director of LORCA, said:
“The threats posed to businesses by cyber-attacks are continually changing. We’re proud to be working with industry to understand their needs, with investors who can help develop the solutions scale at pace, and with incredible innovators who are helping secure UK’s position as a world leader in cyber security.
“By bringing all these things together in our new centre we will stay ahead and help British businesses grow and succeed.”
Gavin Poole, Chief Executive of Here East, said:
“The threat of cyber-attacks is something that most businesses are familiar with and there is no doubt that many of them could do more to protect themselves against such an eventuality. Cyber is fast moving and constantly changing and we need to keep ahead of the game.
“That’s why Plexal creating the London Cyber Innovation Centre at Here East is hugely important and exciting for us. This centre will be at the forefront of some of the most fascinating areas in cyber innovation. We look forward to welcoming cyber innovators to our unique campus and seeing how they will collaborate with the hugely diverse range of businesses already located here.”
Stephen Wray, Director of Cyber Innovation at Deloitte, said:
“We are supporting clients solve cyber challenges in over 150 countries. LORCA will connect innovators with these global market opportunities. We look forward to bringing our domain expertise to help amplify the impact of LORCA Members for the benefit of the UK economy”
Dr Godfrey Gaston, CSIT Director, said:
“CSIT is delighted to be a partner in LORCA. We will replicate our unique innovation model to assist the startup community within the new centre. This will be achieved through our dedicated engineering support and delivery of an academic engagement and thought leadership programme. This is a strategically important initiative and we are excited to start working with the next wave of UK cyber innovators.”
Sharon Barber, Chief Security Officer, Lloyds Banking Group, said:
“As a founding partner we are delighted to foster growth, creativity and support cyber security innovators as they mature and scale up their proposition as it goes to the heart of our strategy to help Britain prosper.”
Paul Goswell, managing director of Delancey, said:
“Here East has quickly become the natural home for some of Europe’s most innovative companies. The arrival of LORCA strengthens that even further and enables London to position itself as the global leader in cyber security.
“As well as making the internet safer for all, LORCA will create jobs and boost Britain’s reputation around the world as the go-to destination for technology startups.”