New £9.5m cyber-security hub for capital
ANEW £9.5m hub at the heart of efforts to accelerate the size of Wales’ emerging cyber-security sector and seeing a significant rise in private equity funding to help firms scale-up, has been announced.
The Cyber Innovation Hub is being led by Cardiff University with partners including Airbus, Alacrity Cyber, CGI, Thales NDEC, Tramshed Tech, and the University of South Wales.
The hub, which will become operational by year end, will train more than 1,000 cyber-skilled individuals and grow the cyber-security sector in Wales by more than 50% (number of firms) by 2030.
It will also support efforts to attract more than £20m in private equity investment to scale-up around 50% of these businesses, as well as attracting more cyber-security firms, projects and research capacity into Wales.
It will also bring industry, government and academic partners together to support the growth of the sector.
Its activities will be spread at numerous locations across the Cardiff City Region, including a new coworking space operated by Tramshed at the 1 Central Square office scheme in Cardiff with entrepreneurship training at Alacrity’s hub in Newport.
Innovation activity will centre around Cardiff University’s cyber defence testbeds at Abacws to develop and test new cyber products. Thales Ebbw Vale, Airbus Newport and CGI Bridgend will seed innovation challenges that are aligned to market demand.
The funding includes £3m from the Welsh Government over the next two years, alongside £3m from the City Deal for the Cardiff Capital Region – which covers the 10 local authorities of south east Wales – and for which the Cardiff Bay administration is a cofunder alongside the UK Government.
The remainder of the £9m (£3.5m) will be in the form of in-kind matchfunding from consortium partners.
There are 51 cyber-related businesses based in Wales, employing 4% of cyber security professionals based in the UK. The hub has a goal of seeing Wales’ share increasing significantly in the year ahead.
First Minister Mark Drakeford confirmed Welsh Government support for the cyber hub at the UK’s flagship cvber security conference – CyberUK 2022 – at the ICC Wales in Newport last night. The conference is being organised by the National Cyber Security Cente which is part of Cheltenham-based GCHQ.
Mr Drakeford said: “The Welsh Government is proud to co-fund Cyber Innovation Hub’s mission to transform Cardiff Capital Region into one of the UK’s leading cyber clusters by 2030.
“The pandemic has highlighted just how important cyber innovation is in supporting and protecting information-sharing whilst offering data and insight to help keep the region moving and growing.”
UK Government Minister David TC Davies said: “I am delighted to see this world-beating new centre open in the Cardiff Capital Region, supported as a part of the UK Government’s £375m investment in the City Region Deal. This will bring jobs and growth to the area as well as putting Wales at the heart of the cybersecurity industry.”
Director of the Cardiff Capital Region City Deal, Kellie Beirne, described the initiative as critical to the growth of the cyber-security sector in the region and creating competitive advantage against other UK regions.