The London Office for Rapid Cybersecurity Advancement (LORCA) has announced the selection of 11 scaling cyber companies for its second cohort.
These companies are recognised for providing the most promising solutions to the major cybersecurity challenges identified by LORCA in the previous year.
Introduction to the Cohort
The London Office for Rapid Cybersecurity Advancement (LORCA) has recently unveiled its latest cohort of 11 companies. These organisations have been identified as the most promising in addressing contemporary cyber security challenges.
Chosen by a panel of industry leaders, the businesses will focus on creating solutions centred around user-centric security and securing supply chains. Their ultimate goal is to enhance employee awareness and safety regarding cyber threats and improve management of cybersecurity risks in complex supply chains.
Focus on Supply Chain Security
One of the cohort members, Xanadata, is noteworthy for its innovative approach to supply chain security. Their technology allows customers to rapidly identify millions of cyber threats across any network, both in real time and retrospectively, processing several months of activity within minutes.
Stephen Meredith, head of outbound marketing at Xanadata, stated, “Xanadata is very excited to be part of the second cohort focusing on protecting supply chains from cyber security breaches.”
Quantum-Driven Security Solutions
Crypto Quantique Ltd, another cohort member, is at the forefront of quantum-driven security. The company has developed a secure chip that provides seamless end-to-end security for connected devices.
LORCA director Lydia Ragoonanan commented on the new cohort, saying, “We’re thrilled to welcome these high-potential UK companies that have genuinely promising solutions to the biggest industry challenges in cyber security.”
Comprehensive Support for Growth
The selected companies will benefit from bespoke, world-class support through a government-backed programme. This support is delivered by an innovation centre based at a tech campus.
Participants will receive one-to-one commercial and technical support from Deloitte’s Cyber Risk Service team. Additionally, there will be academic and engineering support from the Centre for Secure Information Technologies at Queen’s University Belfast.
A Government-Backed Initiative
LORCA was initiated in June 2018 with a £13.5 million funding from the Department for Digital, Culture, Media & Sport. It aims to help the cohort scale rapidly, access new markets, secure investment, and recruit top talent.
The first cohort included ZoneFox, which has since been acquired by US cyber giant Fortinet, highlighting the potential for significant growth and achievement within the programme.
Positive Impact on Cybersecurity
Margot James, Minister for Digital, emphasised the importance of the initiative. She noted, “This latest round of companies selected by LORCA highlights how the UK continues to be at the forefront of cyber innovation.”
The initiative is expected to contribute substantially to making the UK a safer online environment and maintaining its stance as a world leader in cybersecurity.
In conclusion, the latest cohort unveiled by LORCA represents a vital step towards addressing significant cybersecurity challenges. With comprehensive support and a focus on innovation, these companies are poised to make a meaningful impact on the industry.
The collaboration between industry leaders, government, and academic institutions underscores the collective effort to enhance the UK’s cyber resilience. The initiative not only promises growth for the selected businesses but also aims to fortify the nation’s cybersecurity landscape.