Plexal, the tech hub at the heart of the former Olympic press and broadcast centre, has been selected by the government as the home for the new London cyber innovation centre, digital minister Margot James has confirmed.
A new £13.5m centre of excellence in cyber security – helping to create a possible 2,000 new jobs – is to be housed at London’s Olympic Park, the government confirmed on Tuesday.
In a boost for the east London tech business cluster, the new centre will incubate 72 companies over three and a half years. It will focus on supporting later stage startups, enabling them to serve a corporate marketplace faster, source follow-on investment and scale their proposition.
It will become one of two centres being developed by government to grow the UK’s cyber security sector – the first innovation centre opened in Cheltenham last year, as part of the government’s £1.9bn five-year cyber security strategy.
The government said the new centre would help the UK increase its share of the £69bn global cyber security industry.
Digital minister Margot James said the new centre “will build on the site’s legacy of excellence and spark a wave of creativity to develop the cyber security technology of the future and help protect the nation’s industry.”
Plexal founder and chief executive Claire Cockerton said: “Our future international standing as a world-leading digitally enabled economy depends on a robust and forward-thinking cyber security sector.
“The centre will help this to develop by delivering bespoke business development programmes, engineering resource, professional services, access to corporate buyers and ambitious investors.”
Plexal was opened last June by London mayor Sadiq Khan, with a remit to support tech businesses and projects for public good. It already hosts work on smart cities and disabilities.
The new cyber centre will open for its first cohort and members this summer.