Securing opportunities:
Cyber scaleups are experiencing significant growth in the UK
In an era of interconnectivity, the UK is bolstering its digital defences—attracting a global network of cyber security scaleups with the prospect of accelerated growth.
As our digital world becomes increasingly data-driven, a greater onus is being placed on ownership and responsible handling. As a result, the global technology landscape is experiencing a remarkable rise in cyber security businesses that are all working to set a gold standard for digital safety.
The UK, alone, is home to around 2,000 cyber security firms and has welcomed almost 300 from across the globe. Having created an environment for innovation to thrive, the nation has become a magnet for international scaleups looking to develop their products and services—further safeguarding businesses, communities, and economies against potentially damaging cyber threats.
THE UK’S CYBER SECURITY SPACE AT A GLANCE
*Statistics from UK Cyber Security Sectoral Analysis 2023
To support the long-term success of established firms and future cyber innovators, the UK government has invested in a series of world-class cyber security initiatives. Cyber Runway exists to fast-track the growth of scaleups through business masterclasses, engineering support, and international collaboration, while CyberFirst provides access to undergraduate bursaries, apprenticeship courses, and development courses to hone the next generation of cyber security experts.
Strengthening this commitment, the UK’s Department for Business and Trade (DBT) has launched the Unicorn Kingdom: Pathfinder Awards (UKPAs). Open to scaleups from around the world in Cyber Security, Artificial Intelligence, Connected and Automated Mobility Technology, and Digital Trade Solutions, the UKPAs will set a roadmap for advancing their service offering, customer base, and digital potential.
Facephi
The UKPAs build on the success of the former Tech Rocketship Awards which, in 2022, awarded Silver in the Cyber Security category to FacePhi—a Spanish user identification technology provider that specialises in digital onboarding and biometric authentication solutions.
“Our company focuses on providing end-to-end solutions for verifying, securing, and managing user identity in B2B environments,” explains Esperanza Arquero, Marketing Manager at FacePhi. “We implement cutting-edge technologies to guarantee the authenticity of users and mitigate associated risks, such as fraud.”
For FacePhi, entering the Tech Rocketship Awards was about more than gaining recognition; it was about accelerating growth.
This meant competing against some of the world’s most talented scaleups within the same discipline.
Since participating in the Tech Rocketship Awards and establishing its EMEA subsidiary in the UK, demand for FacePhi’s solutions has grown significantly. “We have experienced remarkable growth in both the number of clients we serve and the industries we operate within,” says Arquero. “This expansion speaks to the value and trust our clients place in our services, as well as our ability to adapt and innovate within a diverse business environment”—where the UK stands as a strategic and valuable partner.
This year, the UKPAs will give high-potential tech scaleups the chance to follow in the footsteps of FacePhi and enter the UK’s $1 trillion digital tech ecosystem. To support their development in this dynamic environment, the awards will present winners with a tailor-made programme that incorporates industry meetings, VIP events, and promotional activities. They will also gain access to DBT’s Global Entrepreneur Programme, which will help to advance their ambitions for growth.
Applications for the UKPAs are open until 30 April 2024; and for those ready to kickstart their UK expansion, Arquero believes there are four ways to prepare:
- Communicate what sets your scaleup apart from competitors
- Celebrate your innovations and any challenges you have overcome
- Use your application as an opportunity for self-reflection and improvement
- Identify the areas where you can further refine your business strategy
With these insights, global cyber security scaleups have the potential to join the UK’s evolving cyber market and contribute towards a unique legacy of innovation and impact.
