The UK government has announced a multi-million pound investment project to help protect the country's businesses from cyberattacks.
The £36m scheme will see the government partner with leading tech firms such as ARM as part of the next phase of the Government’s Digital Security by Design initiative, which has also previously been backed by Google and Microsoft.
The news comes soon after recent DCMS research found the average cost of a cyber-attack on a business, including data breaches, has increased by more than £1,000 since 2018 to £4,180.
ARM, long regarded as one of the UK's top technology success stories, will be lending its hardware expertise to help develop new chip platforms that are more resistant to cyber threats.
The company will look to create prototype silicon known as the Morello Board, which will act as a real-world test platform for prototype architecture developed by ARM that uses the University of Cambridge’s CHERI protection model to help spot and stamp out new security threats.
Alongside this, the government is also funding that development of safer, more resilient wireless networks through a new ‘Prosperity Partnership’ between Toshiba Research Europe, University of Bristol, GCHQ and Roke Manor Research.
The funding will help research new techniques that are able detect future threats and mitigate their effects – including financial extortion, terrorism and damaging or destroying established systems.
“Cyber-attacks can have a particularly nasty impact on businesses, from costing them thousands of pounds in essential revenue to reputational harm," Business Secretary Andrea Leadsom said, announced the plans.
“Cyber-criminals operate in the shadows, with the severity, scale and complexity of breaches constantly evolving. It’s critical that we are ahead of the game and developing new technologies and methods to confront future threats, supporting our businesses and giving them peace of mind to deliver their products and services safely.
“Investing in our world-leading researchers and businesses to develop better defence systems makes good business and security sense.”