New cyber security firms to benefit from accelerator scheme

With the first UK accelerator for start-up firms in cyber security, professionals are saying that local businesses could benefit from a global trend – online safety.

It has been revealed that a new accelerator is set to be  launched for London-based start-ups in a bid to increase cyber security technology, with the first three-month Cyber London scheme to commence in April.

The project will involve the healthcare, telecoms, retail and defence industries.

Each year, 10 teams will be given access to finance, with start-up firms awarded £5,000 for living allowances. They will also receive mentorship from business leaders, academic experts and government agencies.

Neill Gernon – who founded Hustlehack, a pre-star accelerator – organised the event. He feels that there has been insufficient cyber security investment to date, but remains confident that the event can make a difference.

Marco Morana, an adviser for Nok Nok Labs, said that any start-up in any industry needs to think about cyber security and ensure that it is as up to date as possible.

A day after the scheme was announced, new cyber security firms, along with experts and investors, gathered at London’s Cyber Startup Summit. Morana commented:

“It’s very important to think of security early in lifecycle start-up.

“Thinking about security early is critical, because basically it might impact the reputation of whatever it is that you’re doing.”

Whether firms offer full-time cyber security jobs or information security contract jobs, many in the UK need to bolster their security to deal with the multitude of threats to online safety that exists today.