(ShareCast News) - In an attempt to secure the UK's position as a global leader in the growing cyber security sector, a brand new world-first cyber innovation centre will be built at the Queen Elizabeth Olympic Park.
The £13.5m London Cyber Innovation Centre is set to boost East London's digital cluster and spur the development of cutting-edge technology aimed at keeping the nation safe from online threats, creating as many as 2,000 cybersecurity roles in the process.

The new centre, run by innovation space operator Plexal, will be funded by the Department for Digital, Culture, Media and Sport as part of the Government's five-year, £1.9bn investment to keep the UK safe online and will offer a tailored programme of support to at least 72 companies over three years.

Startups chosen for the scheme will work with large firms to identify cybersecurity challenges critical to their businesses, helping entrepreneurs to create solutions that large firms require and to secure commercial contracts and crucial investment.

Margot James, Minister for Digital and the Creative Industries, said, "London is the undisputed leader of European tech, with billions of investment flowing in every year and world-leading firms developing groundbreaking innovations.

"This new centre in the Olympic Park will build on the site's legacy of excellence and spark a wave of creativity to develop the cybersecurity technology of the future and help protect the nation's industry," she added.

Claire Cockerton, founder of Plexal, added, "The UK has a strong heritage in tech innovation and a fertile business environment for start-ups to grow. But our future international standing as a world-leading digitally-enabled economy depends on a robust and forward-thinking cyber security sector."

A tech company was formed every hour in London during 2017 and firms attracted nearly £3nn in venture capital investment. The centre will act as a catalyst for UK startups and help Britain increase its market share of the global cyber security industry, forecast to be worth £69bn in 2018.

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