The UK cybersecurity sector will be bolstered by millions in new investments as part of the Cyber Growth Action Plan announced by the government on Wednesday.
Cyber is being centred as one of the core tech sectors to be supported by government policy, both as a source of economic returns, with it already generating £13.2bn annually, and as a vital technology to protect public and private sector IT systems.
The new action plan, which comes following the release of the AI Opportunities Action Plan, aims to chart a course for the British cyber industry, which in 2024 supported over 67,000 jobs.
The scheme from the Department for Science, Innovation and Technology (DSIT), will be led by an independent group of experts at the University of Bristol and Imperial College London’s Centre for Sectoral Economic Performance.
The team will examine the strengths of the sector and provide a roadmap for its future growth, with a set of recommendations to be released later in the summer to advise the government on actionable steps.
As well as this, up to £16m in new investment has been announced across two cyber schemes: the CyberASAP programme that supports the commercialisation of academic cyber research and Cyber Runway, a state-run cybersecurity accelerator programme for startups.
“Cyber security is essential to our economic strength and national resilience. Today’s announcement is backed by investment showing we’re serious about making the UK a global leader in cyber innovation and protection,” said Feryal Clark, the minister for AI and Digital Government.
“Through our Plan for Change, we’re backing the sector to create high-quality jobs through the Cyber Growth Action Plan and ensuring our public services are built on secure foundations with the expert support of the Government Cyber Advisory Board.”
The Cyber Growth Action Plan’s findings will feed into the forthcoming National Cyber Strategy.
“Today’s investment will help to turn innovative ideas into successful businesses up and down the country, and the new research will support our mission to grow the economy,” said Chancellor of the Duchy of Lancaster Pat McFadden.
“Recent cyber attacks show just how important it is we foster the development of the sector – delivering the double dividend of high paying jobs as well as strengthening the country’s cyber security.”
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