Plexal, the innovation company founded by Delancey, has opened applications for growing and scaling businesses to apply for cohort two of Cyber Runway. That’s the cybersecurity accelerator funded by the Department for Digital, Culture, Media and Sport.
Cyber Runway is delivered by east London-based Plexal, pictured, with support from audit firm Deloitte and the Centre for Secure Information Technologies. Plexal is inviting all UK-registered startups to apply at plexal.com/cyber-runway by July 29.
Over six months, up to 100 startups will be given support designed to help them grow their businesses in the UK and abroad. Cyber Runway has been designed to address some of the biggest challenges facing cyber security, such as diversity and inclusion and regional representation. Plexal is particularly keen to receive applications from startups with diverse leadership teams and companies based throughout the UK. The goal is for 30 per cent of cyber companies involved to be female-led businesses, 40pc of companies to be based outside of London and the South East and at least 15% of founders coming from Black, Asian and minority ethnic backgrounds.
For the first accelerator, 45pc of member companies were female-led startups and 52pc were run by founders from black, ethnic or minority backgrounds.
The accelerator is split into three streams, Launch, Grow and Scale, to cater to startups at all growth stages. Plexal is calling on established startups to apply for the Grow and Scale streams only, which are for startups that are anywhere from pre-Seed to Series B and above that are gearing up for further growth. Support the startups will receive includes:
· Business masterclasses (both virtual and in person) on everything from recruitment to marketing
· 1:1 mentoring
· Access to a content hub with on-demand masterclasses and networking opportunities
· Connections to investors and corporates to fuel growth
· Mentoring, engineering support from the Centre for Secure Information Technologies (CSIT) and access to CSIT’s data and testing centre
· Technical product development support
· Opportunities to connect with international cyber hubs
· Regional events
Cohort members will keep all their IP and equity. Cohort members will also be given support and advice to help them build more sustainable, inclusive and investible businesses, with modules on achieving Net Zero targets and designing inclusive policies.
Cyber Runway has already supported 107 entrepreneurs with its first cohort. Grow members saw a 20pc increase in revenue, an 8pc increase in investment and a 22pc increase in headcount over the course of the programme. Scale members saw a 45pc increase in revenue, a 14pc increase in investment and a 71pc increase in headcount. Cyber Runway is designed to strengthen the UK’s cyber ecosystem and accelerate the growth of a new generation of cyber startups; to improve national security, stimulate innovation and drive economic growth.
Saj Huq, Chief Commercial Officer at Plexal, says: “The economic and geopolitical necessity for a thriving cyber security ecosystem has never been greater. As the UK’s largest cyber accelerator, Cyber Runway provides a uniquely scaled platform for growth at the heart of the UK’s innovation ecosystem, that is designed to support bold, ambitious and diverse founders to realise their potential. We encourage any startup that is serious about their growth to apply and collaborate with us.”
