Belfast, 24 November 2015: A new incubator programme, CSIT Labs, https://csitlabs.com, designed to support new cyber security ventures start, scale and engineer minimum viable product that has a clear market fit was launched today by Queen’s University Belfast’s Centre for Secure Information Technologies (CSIT), the UK’s national Innovation and Knowledge Centre for cyber security.
Recent high profile cyber security breaches show the significant costs to businesses associated with such events in terms of the remediation, loss of customer trust and shareholder value. On Tuesday 17th November 2015 Chancellor George Osborne announced that UK Government funding for cyber security is set to double to £1.9bn by 2020. This highlights the importance being placed on tackling the scourge of cybercrime and the scale of the economic and commercial opportunity available for innovative new technologies and companies in this area.
CSIT has established a reputation as a global innovation hub for cyber security. The CSIT Labs incubator programme formalises its successful innovation process and expands it to enable teams from wider UK academia, organisations and start-up/SMEs to benefit from its experience, ecosystem and world leading engineering capability. Teams will partake in a managed incubator programme which, uniquely, provides up to 6 months engineering development resource, to take ideas and promising research in the field of cyber security through to investment and market ready stage.
CSIT, a recipient of a The Queen’s Anniversary Prize for Higher and Further Education in 2015, was established as the UK’s national Innovation & Knowledge Centre (IKC) for cyber security in 2009 with funding from the Engineering and Physical Sciences Research Council (EPSRC) and InnovateUK with additional support from Invest Northern Ireland. In March 2015 CSIT announced phase 2 core funding, from EPSRC and InnovateUK, and with a focus on growth, CSIT will continue to produce ground breaking innovations and programmes aimed at scaling new UK cyber security ventures at the Centre, such as CSIT Labs.
Kevin Baughan, Director of Technology and Innovation at Innovate UK said:
“The UK has an excellent research base in cyber security. CSIT is at the forefront of carrying out both world leading science in this field and translating that into economic benefit through the creation of new ventures and working with start-ups and scaling SMEs across the UK. The CSIT Labs programme is exactly the type of programme we require to accelerate cyber security research into dynamic and innovative new companies which can compete on the world stage.”
Professor John McCanny, Principal Investigator of CSIT said:
“In securing a further five year funding term for CSIT we committed to raising the bar on growth. Through our CSIT Labs programme we plan to enable wider UK academia and start-ups to access our tried and tested innovation process, engineering resource, partner ecosystem and global reach to increase the number of viable new cyber security ventures competing on the world stage. Cyber security is one of the main pillars which supports a thriving and dynamic digital economy. We hope to ensure the UK continues to lead the way in this area.”
Apply now here: https://www.csitlabs.com/apply/
Media inquiries to David Crozier – CSIT Technical Marketing Manager Tel: +44 (0)28 9097 1754 Email: firstname.lastname@example.org
Press release available here: CSIT Labs PR Final.
Hi res image with caption available to download here: