UK Government Invest £70 Million Into Cyber Security Research
The government are set to invest £70 million through the Industrial Strategy Challenge Fund to improve the UK’s technology hardware in a bid to further protect businesses and individuals from cyber attacks.
The investment will be placed into research projects that will aim to improve existing technology in hardware and chip designs to make the technology more difficult to hack.
As the government speculate that 420 million smart devices or internet-connected devices will be performing a myriad of functions, like unlocking our doors, within the next three years, the government will secure £30 million to improve safety in this area.
Greg Clark, business Secretary, said: “This could be a real step-change in computer and online security, better protecting businesses, services and consumers from cyber-attacks resulting in benefits for consumers and the economy.
“With businesses having to invest more and more in tackling ever more complex cyber-attacks, ‘designing in’ security measures into the hardware’s fabric will not only protect our businesses and consumers but ultimately cut the growing cyber security costs to businesses.
“This is our modern Industrial Strategy in action. Building on the UK’s heritage and strengths in computing and cyber security alongside the government and industry investing together to ensure the UK capitalises on its position to become a leader in the growing markets and technologies of tomorrow.”
Margot James, Digital Minister, said: “We want the UK to be a safer place to live and work online. We’re moving the burden away from consumers to manufacturers, so strong cyber security is built into the design of products. This funding will help us work with industry to do just that, improving the strength and resilience of hardware to better protect consumers from cyber-attacks.”
Dr Ian Levy, National Cyber Security Centre’s Technical Director, said: “The National Cyber Security Centre is committed to improving security from the ground up, and we have been working closely with government to promote adoption of technology and practices to protect the UK.
“We hope this additional investment will drive fundamental changes to products we use every day. This is vital work because improving hardware can eradicate a wide range of vulnerabilities that cause significant harm.”
Will this investment lead to significant improvements in technology to prevent cyber attacks?