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UK government reveals £70m plan to combat cyberthreats

(Image credit: Image source: Shutterstock/BeeBright)

The UK government wants to make the country's businesses more cyber-resilient and it's ready to invest £70 million ($92 million) in making it a reality. This investment, which is set to coincide with Data Privacy Day, aims primarily to make IoT solutions more secure, and to do that by “designing out” cyberthreats.

In practice, it works as a grant. Businesses will get a chance to apply with the Industrial Strategy Challenge Fund and get funding. If, that is, ­­­they can design systems and hardware that are built with security.

There are also other ‘Grand Challenges’ that are part of the government’s bigger investment strategy, and these include industries like the AI or areas such as the elderly.

"The National Cyber Security Centre (NCSC) 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," said the NCSC's technical director Dr Ian Levy.

"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."

An extra £30.6 million ($40m) investment will be given to programs that can ensure the security of smart systems and IoT devices, combining physical safety and security with human behaviour, it was said.

"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 cybersecurity costs to businesses,” said business minister Greg Clark.

Image source: Shutterstock/BeeBright