UK Government invests £4m to develop cyber security

SME cyber-czar appointed and £4m invested to facilitate the development of new security technology.

The UK Government has appointed TechUK’s Andy Williams as its first ever SME cyber-czar and invested £4m into a competition for small businesses to facilitate the development of a new security technology.

The small business champion’s job would be to find and connect small businesses in the security field as well as promote them at international trade events, according to Tech World.

Further, Dr Emma Philpott, managing director of technology consultancy Key IQ, will establish regional clusters of cyber-security SMEs across the UK in order to provide them national exposure.

A £4m fund run by the Technology Strategy Board will be set up from 2015, aimed at handing out money to the best ideas from the sector, including startups.

However, Rob Cotton who is the CEO of large security consultancy NCC Group denounced the initiative stating: “The solution to this problem will take more than just money. The cyber security barriers that small businesses face are complex – from incentive, knowledge, retained capability and cost sensitivity.”