Tech Nation, the growth platform for UK tech scaleups and leaders, has today revealed Newport-based Hut Six as one of the 22 cyber security companies selected to join its Cyber 2.0 growth programme. The announcement comes at a time when the world tackles increased cyber security threats in light of COVID-19.
At a time when cyber security has never been more important, the Cyber programme aims to unlock the growth potential for early-stage cyber scaleups. The programme addresses key issues facing cyber founders, including scaling internationally, scaling company culture and navigating access to clients and stakeholders in the cyber ecosystem.
Companies who have previously been on the programme have seen considerable success. White Bullet, an AI risk scoring software provider, doubled their annual recurring revenue, expanded their operations into Asia and forged potential projects in the US off the back of the Cyber 1. 0 trip to New York. Red Sift raised $8.8MSeries A finance and started its expansion in the USA market. Awen Collective won a 12 month project with the Ministry of Defence, extending their Dot product into the military and defence domain and increased incoming work orders by 5 times from the previous financial year.
The programme is supported by partners CBRE, RSM, Talent Works International and Wilson Sonsini who bring their expertise and networks to Cyber 2.0.
Mike Jackson, Entrepreneur Success Director, Tech Nation, commented: “The UK is already an acknowledged leader in cyber security, raising £7.8bn between 2015 and 2019, placing the UK third in the world for cyber after the US and China. In these unprecedented times that we face in light of COVID-19, there has never been a more important time to invest in and support innovative cyber solutions. At Tech Nation we are delighted to announce the second cohort of Cyber 2.0, to help unlock the growth potential for early-stage cyber scaleups.”
Gino Brancazio, Entrepreneur Engagement Manager – Wales, Tech Nation commented: “The Cyber 2.0 cohort represents some of the best cyber solutions in the UK right now. The tech ecosystem in Wales has always had a strong specialism in cyber security, boosted by links to Wales’ thriving business, government, academia and defence communities. I am delighted to see Newport-based Hut Six be selected to join the programme, and hope that the peer-to-peer support and expertise will be invaluable to their growth.”
Simon Fraser, Managing Director, Hut Six Security, commented: “I am delighted that Hut Six have been selected to join Tech Nation’s Cyber 2.0 programme alongside an impressive cohort of leading UK cyber companies. The opportunity has come at a perfect point in our growth, one where we are ready to embrace the exposure, networking and mentorship opportunities on offer through the programme. Having just launched our small business specific offering and reimagined our digital marketing
