New Government-backed scheme to support UK’s “Booming” cyber sector

Cyber start-ups and scale-ups will be given greater access to corporate finance under a new Government-backed scheme, it has been announced.

The Department for Digital, Culture, Media & Sport (DCMS) said the ‘Cyber Runway’ initiative will help entrepreneurs “turn their ideas into commercial successes”.

If you have a business in the cyber space, here’s what you need to know.

What is the Cyber Runway scheme?

The new scheme is designed to support entrepreneurs and small businesses in the cyber industries, such as cyber security.

Through the scheme, businesses will be able to access:

  • Business masterclasses
  • Mentoring
  • Product development support
  • Networking events; and
  • Backing to trade internationally and secure investment so they can turn their ideas into commercial successes.

Who is delivering the scheme?

The scheme is funded by the DCMS, but is delivered by Plexal in partnership with The Centre for Secure Information Technologies (CSIT), among others.

How many organisations will be supported?

“At least” 160 organisations – including start-ups, scale-ups, and entrepreneurs – will be supported over the next six months.

How do I apply?

Expressions of interest from applicants, mentors and investors can be made here.

How big is the UK’s cyber sector?

The latest statistics suggest that the cyber sector has grown by seven per cent in the last year alone, and now contributes £8.9 billion to the economy each year.

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Posted in Business, Technology.