Based in Hammersmith, London, CyLon (Cyber London) is the first cyber security accelerator programme in Europe. Managed by seed accelerator programmer, Ignite, the programme is designed to provide help to cyber security startup businesses and help them to develop their security technology products and services.
As the world’s cyber space continues to evolve, unfortunately so does the strength and innovativeness of the world’s cyber terrorists. Recent estimates from GCHG, the UK’s electronic surveillance agency state that 8 out of 10 of the UK’s biggest businesses have suffered from a cyber-attack.
It is essential that businesses are able to protect themselves from such cyber-attacks, not least because it ends up costing the UK economy an enormous amount of money – we’re talking millions of pounds!
This cyber security scheme is not-for-profit and is sponsored by a number of venture capitalist firms, such as Winton, Amadeus and Freshfields, who have agreed to provide voluntary mentoring to the successful startups enrolled onto the scheme.
Jane Jenkins, a partner at Freshfields and the co-head of its cyber security team said: “We are proud to support a new generation of cyber security entrepreneurs going through the CyLon programme by offering our legal expertise on a pro bono basis.”
The programme is designed to establish a tighter connection between the government and the ever growing cyber security scene in the UK. Successful applicants to the scheme, of which there will be 10 (teams), will gain funding for 13 weeks and receive professional advice and training.
The scheme plans to encourage relationships between already successful cyber entrepreneurs and government agencies, as well as others that rely heavily on cyber security such as academic experts and online business, and draw on their expertise in order to benefit those on the scheme.
Applications for the scheme close in a few weeks’ time on 2 March and the programme will then commence in April. Successful startup applicants are expected to vary, coming from across a wide variety of industries such as retail, telecoms, defence and health services.
Additional funding has been set aside by the scheme’s investors; all teams on the scheme will receive the full 13 weeks of funding, however, the most promising companies will receive this additional funding after the programme finishes.
Founded by some of the UK’s most knowledgeable and successful technology professionals, this scheme will help bridge the gap between those who already have the skills, knowledge and money to deal effectively with cyber security and those who still require all of these things.
CyLon will provide the opportunity to work alongside and learn from an outstanding network of accomplished mentors and investors, providing teams with a full training schedule which includes mentoring, coaching, workshops and field trips.
Cyber security is an essential part of the world in which we all now live and must be taken seriously. The CyLon scheme is designed to combat the trials of cyber security and it is hoped the scheme will become an annual event and therefore benefit many startups.