The UK government and spy agency GCHQ have launched a new £6.5 million scheme designed to boost research into all things information security, and in so doing help protect the nation in cyber space.
CyberInvest was announced at GCHQ’s IA15 event in London this week.
It’s designed to bring together government, academia and industry in a forum drawing on the expertise of GCHQ and others and dedicated to the latest in cybersecurity research, it was claimed in an official announcement.
It’s also an attempt to keep the UK at the forefront of innovation in the area, which it believes it already has world class expertise in, and in so doing create new opportunities for growth.
"CyberInvest is an exciting initiative which brings industry, government and academia together, and builds on the UK's reputation as a global leader for cybersecurity research,” said culture and digital economy minister, Ed Vaizey, in a statement.
“Over the last four years we have invested over £20 million in UK cybersecurity research, and the new CyberInvest scheme will play an important role in our ongoing work to help protect UK citizens and businesses online.”
GCHQ claimed that existing cybersecurity research in the UK via the National Cyber Security Program (NCSP) and the Engineering and Physical Sciences Research Council (EPSRC) has already led to the development of “innovative” products.
The ESPRC is also working with Singapore’s National Research Foundation (NRF) and during a recent trip by prime minister David Cameron it was announced that the countries’ joint R&D fund would be doubled to £2.4m over three years.
CyberInvest is open to firms of all sizes with a minimum investment of £10,000 for micro companies of fewer than 10 people, and £500,000 for firms of greater than 250 people. So far, 18 companies have committed to invest £6.5 million over the next five years.