Cyber Runway will see entrepreneurs and businesses get access to 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.
The new programme – funded by the Department for Digital, Culture, Media and Sport (DCMS) and delivered by Plexal in partnership with CyLon, Deloitte and The Centre for Secure Information Technologies (CSIT) – aims to support at least 160 organisations and companies over the course of six months.
The cyber security sector is one of the UK’s tech success stories with revenue growing 7 per cent in the last financial year and the number of companies increasing by 21 per cent. 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.
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.”