BAE Systems commits financial investment and expert support for UK’s cyber security startups
BAE Systems has extended its partnership with Cyber London (CyLon) for an additional three years, further strengthening its commitment to the UK cyber security sector.
CyLon – Europe’s first dedicated cyber security accelerator – has been working with BAE Systems for the last 18 months to drive security innovation and develop talent in the UK, during which more than 23 startups have completed CyLon’s three month training and guidance programme.
The extended partnership agreement consists of a mix of financial investment and support from BAE Systems’ experts in the form of mentoring and guidance throughout the programme.
Richard Wilding, Director of New Ventures and Innovation at BAE Systems cyber division said: “Our relationship with CyLon is a critical part of our innovation programme, helping ensure that we support the UK’s cyber economy, while also allowing us to work hand-in-hand with some of the brightest people and the most innovative technologies entering the market today. It has been really exciting to play a role in these companies starting to flourish, securing investment and creating high value jobs – and we look forward to continuing this successful partnership over the next three years.”
Jonathan Luff, co-Founder of CyLon, highlighted what the partnership means for the future of cyber security in the UK: “CyLon and BAE Systems have forged a great partnership. The UK is a cyber superpower, and with the support of a global giant like BAE Systems, we are confident that CyLon can help many more cyber start-ups to flourish here over the next three years and beyond.”
Launched in January 2015, CyLon aims to turn the UK into a leading nation for cyber security amidst a backdrop of an increasing prevalence of cyber attacks. Cyber crime is now seen as the number one economic threat to UK businesses and recent research found that ransomware attacks increased threefold in 2016.
Businesses have already been warned to expect bigger and badder attacks next year, making programmes such as CyLon a vital component of the cyber defence landscape.
Think you’re clued up on cyber security in 2016? Take our quiz and find out