UK Government to Invest Some $19 Million in London Cybersecurity Center



UK authorities will allocate several millions to the creation of an innovation center in London aimed at the development of cybersecurity technologies.

UK authorities will allocate 14.5 million UK pounds (around $18.9 million) to the creation of an innovation center in London aimed at the development of cybersecurity technologies, the country’s government said in a statement on Monday.

"London will cement its place as a world-leader in the fight against cyber attacks and threats with an investment of up to £14.5 million in a new innovation centre to develop the next of generation of cyber security technology to help keep the nation safe," the statement read.

The money will be invested in the course of the coming three years. 

The center will be in charge of bringing together large hi-tech companies, innovative startups and industry experts for the development of new technologies aimed at the protection of UK organizations from cyberspace threats, according to the statement.

The establishment of the center will allow startups to receive access to "technical mentoring, business support and advice to help them to grow in their early stages and contribute to the UK’s thriving £22 billion cyber security sector," the statement added.

London’s center is the second one being developed as part of the UK authorities efforts to ensure the access of UK firms to contemporary cybertechnologies. 

Earlier in 2017, an innovation center was launched in the town of Cheltenham. 

The projects are carried out as part of a 25-million-pound national investment program for the hi-tech industry being carried out over three years.

The issue of cybersecurity has become acute over recent months particularly after a series of major cyberattacks targeting thousands of organizations all over the globe in May and June.

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