Wayra UK, an accelerator operated by telecommunications firm Telefónica, has joined forces with the UK’s Department for Culture, Media and Sport and the country’s GCHQ intelligence agency to launch a new accelerator scheme.
The program will be aimed at UK-based startups in the cybersecurity sector. It follows an announcement in December 2015 by then-chancellor George Osborne that the government planned on doubling its investments in the sector to £1.9bn ($2.5bn) over the next five years.
Startups participating in the initiative, run by Wayra UK, will gain access to GCHQ’s personnel and expertise.
The accelerator will be based at a new facility in Cheltenham, the same town where GCHQ is based, called Cheltenham Innovation Centre which is set to open toward the end of 2016 or in early 2017.
A second such centre will open in London next year and between them they will benefit from £50m in capital provided by the UK government over the next five years.
Gary Stewart, director at Wayra UK and Telefonica Open Future (UK), said: “Wayra and Telefonica Open Future are immensely proud to be working in partnership with GCHQ on bringing further growth and opportunity to the UK’s cybersecurity ecosystem.
“Our shared vision will not only safeguard the country against cyber threats but also increase opportunities for UK-based startups and help establish the UK as a global hub for cyber talent.”
– This story was adapted from an article on our sister site, Global Government Venturing.