Licence to innovate: Nine new cyber security startups chosen for GCHQ’s accelerator programme with Wayra | City PM
An innovative programme launched to foster fresh technology and ideas that could help Britain’s intelligence agencies fight crime has chosen a second intake of startups.
The accelerator from GCHQ and Wayra has picked nine cyber security startups for an expanded programme following the success of the first of its kind accelerator launched last year.
Read more: UK businesses have slashed their cyber security budgets
A startup investigating cryptocurrency transactions, Elliptic, and another which alerts employees to suspicious emails, Cybershield, will join the programme which has now been extended from three to nine months, while funding has been increased to £25,000 for each firm.
“With the digital economy continuing to rapidly expand, it’s vital that we invest in the next generation of cyber security startups to ensure that the UK is the safest place to be online,” said digital minister Matt Hancock.
Read more: On Her Majesty’s secret servers: GCHQ taps startups to fight cyber attacks
“The enhanced GCHQ Cyber Accelerator Programme will bring even more investment and world-leading support to some of the UK’s most innovative companies – helping them develop the skills and cutting-edge technology that will better protect us all from any future cyber attacks.”
Startup
What it does
Cybershield
Detects phishing and spear phishing, and alerts employees before they mistakenly act on deceptive emails
Elliptic
Detects and investigates cybercrime involving crypto-currencies, enabling the company to identify illicit blockchain activity and provide intelligence to financial institutions and law enforcement agencies
ExactTrak
Supplies embedded technology that protects data and devices, giving the user visibility and control even when the devices are turned off
Intruder
Provides a proactive security monitoring platform for internet-facing systems and businesses, detecting system weaknesses before hackers do
Ioetec
Provides a plug-and-play cloud service solution to connect Internet of Things devices with end-to-end authenticated, encrypted security
RazorSecure
Provides advanced intrusion and anomaly detection for aviation, rail and automotive sectors
Secure Code Warrior
Has built a hands-on, gamified Software-as-a-Service (SaaS) learning platform to help developers write secure code
Trust Elevate
Solves the problem of age verification and parental consent for young adults and children in online transactions
Warden
Helps businesses protect their users from hacks in real time by monitoring for suspicious activity
The programme is part of the government’s £1.9bn cyber security investment plans and startups will also gain access to mentoring from experts at GCHQ’s Cheltenham Innovation centre and the National Cyber Security Centre in London.
The first seven startups embarked on the programme at the start of the year.