A new centre dedicated to cyber innovation, the London Office for Rapid Cybersecurity Advancement (LORCA), was officially opened today by Matt Hancock, Secretary of State for Digital, Culture, Media and Sport (DCMS) and sees B-Secur joins LORCA's first cohort of the UK's brightest cyber security stars, for support addressing business challenges and achieving greater impact with our biometric heartbeat solutions.
LORCA aims to position the UK as global leader in cyber security and support the country's innovators to turn their ideas to solve critical cyber security challenges into reality.
The centre will be run by Plexal in the East London Innovation Centre located on the fast-growing Here East digital and creative campus, developed and owned by Delancey’s DV4 fund, and delivered in partnership with Deloitte’s cyber team and the Centre for Secure Information Technologies (CSIT) at Queen’s University Belfast - a key supporter of B-Secur.
The centre’s opening coincides with specially commissioned research by LORCA that reveals more than half of large businesses have suffered a cyber-security attack in the last 12 months, and almost a quarter of UK businesses (24%) don’t think their cyber security solutions are fit for their needs.
As the business threat of cybercrime increases, the new study of 500 UK C-level executives also reveals that more than half (53%) do not have a formalised protocol in place for cyber-attacks.
Despite this, the majority of businesses (70%) surveyed said they haven’t purchased a cyber security solution from a startup company or SME in the last two years. The reasons why they might not seek external specialist help depend on the size of the company: the largest proportion of SMEs (37%) chose awareness of the solution as the key challenge when implementing a new and innovative solution to cyber threats.
This contrasts to larger companies surveyed, where integration concerns were considered the most significant barrier (47%).
B-Secur CEO Alan Foreman said:
"Joining LORCA's first cohort marks an exciting milestone for myself and the B-Secur team, who have been working tirelessly to create ECG biometric solutions for authentication and beyond.
"Our mission is clear; to empower our partners to protect their customers’ digital identities and physical lives. Working with LORCA will accelerate our journey to achieving that.
"I'm excited to grow and expand our global reach with LORCA's help, as well as meet other like-minded entrepreneurs seeking to meet the challenges of cyber crime and strengthen the UK's reputation as a technological force to be reckoned with."
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Growing the UK Cyber Security Sector
The threats posed to businesses by cyber-attacks are continually changing. We’re proud to be working with industry to understand their needs, with investors who can help develop the solutions scale at pace, and with incredible innovators who are helping secure UK’s position as a world leader in cyber security. By bringing all these things together in our new centre we will stay ahead and help British businesses grow and succeed.”
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