Small and medium businesses challenged to boost UK’s ‘cyber exports’.
UK business secretary Vince Cable has unveiled a £4m contest to encourage small and medium enterprises (SMEs) to develop cybersecurity technology.
Speaking at the Global Cybersecurity Innovation Summit, the minister said: "SMEs are responsible for developing a lot intellectual property on cyber defence, but many face the challenge of integrating into the supply chains of bigger organisations."
The competition is part of a drive to achieve £2bn worth of "cyber exports" in the UK by 2016, with cybersecurity already said by Cable to be worth more than £6bn.
"Building a strong and resilient cyberspace in the UK is central to ensuring that our companies can make the most of business opportunities online, whilst avoiding potentially costly threats to the information they hold and the services they provide," he added.
In line with previous efforts by trade group Tech City UK, the minister revealed a project to encourage regional clusters of tech companies, with a focus on cybersecurity.
"We are already seeing success with cyber security firms working in clusters to share resources, with the best developed cluster being around Malvern," Cable said.
Andy Williams of trade group techUK was also appointed as small business champion for cybersecurity, a role which will include the creation of an online portal to help digital businesses share information.