Support Package for UK SMEs to Protect Intellectual Property
As many as 500 small and medium-sized enterprises (SMEs) in the UK are set to benefit from a government funding package aimed at helping them safeguard their intellectual property (IP) from various threats. This includes larger competitors and state-backed actors who may target valuable data and innovations.
Through the Secure Innovation Security Review (SISR) scheme, eligible businesses can receive £2,500 worth of government support by contributing a £500 buy-in. This assistance will involve tailored risk guidance from approved experts, focusing on enhancing security measures to mitigate cyber attacks and insider threats.
NCSC chief executive Richard Horne emphasized the importance of building resilience to protect against cyber threats, stating that it is essential for the growth and survival of businesses. He encouraged SMEs across the UK to participate in the Secure Innovation Security Reviews scheme backed by NCSC and NPSA.
The support provided through the scheme aims to address the efforts of hostile states seeking to steal technological, economic, or military secrets for their own gain. The government highlighted the need to incorporate both kinetic and cyber security measures in risk management strategies to combat advanced threats.
Security minister Dan Jarvis stressed the importance of equipping small businesses with the necessary tools to protect themselves against evolving threats, as many businesses lack the knowledge to identify security risks. Organizations with under 250 employees operating in sensitive sectors outlined in the National Security and Investment Act of 2021 are eligible to participate.
Innovate UK executive director Robert Shaw expressed pride in delivering Security Reviews for startups and spinouts in critical sectors, noting that protecting intellectual property is crucial for growth and competitiveness. By demonstrating a commitment to security, businesses can enhance their prospects for success both domestically and internationally.
