Vince Cable Announces £4m Funding For Cyber Security S

Business secretary Vince Cable has announced £4m government funding for a competition to help small and medium enterprises develop methods to prevent cyber threats.

Speaking at Sinet's first Global Cyber Security Innovation summit in London Vince Cable said: "This is one of several initiatives aimed at achieving the goal of £2bn in UK cyber exports by 2016.

"SMEs are responsible for developing a lot intellectual property on cyber defence, but many face the challenge of integrating into the supply chains of bigger organisations."

Cable added that the growth of the cyber security sector in the UK is a success story, worth over £6bn and employing around 40,000 people.

He said: "Maintaining innovation and growth requires continued investment, and committing a further £4m will help businesses of all sizes turn their ideas to counter cyber threats into reality.

"Partnering with industry experts will also increase the opportunities for the UK's small cyber companies to work together and grow their businesses."

At the summit, Cable also announced the recent appointment of cyber security champion Andy Williams - an industry expert from the UK's largest technology trade association, Tech UK.

Williams is said to be responsible for mapping cyber security for small businesses and setting up a wide growth project to encourage them to work together more closely.

His role will also involve showcasing the capability of cyber security SMEs at both UK and international events, delivering business advice and establishing an online portal to share information about national initiatives with the cyber business community.

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