BlackDice wins government funding for preventative cyber vaccine
- BlackDice has been awarded £100,000 by Innovate UK, the UK’s innovation agency with its Sustainable Innovation Fund.
- The fund helps all UK sectors to rebuild after the effects of COVID-19.
- The grant will fund 1,103 projects, 1,189 businesses with a total of over £130 million in support for the UK.
For the first time, cyber attacks may soon be spotted and blocked before they even have a chance to wreak havoc in organisations’ operations.
Leading cyber security firm BlackDice is developing the machine learning and predictive analytics designed to forecast and protect against cyber attacks following a £100,000 grant from Innovate UK, the UK’s innovation agency’s Sustainable Innovation Fund.
The competition aims to help all UK sectors rebuild after the effects of COVID-19, with BlackDice’s technology enabling telecommunication operators and organisations to protect their customers’ networks and devices throughout the pandemic.
BlackDice applied for the grant on 1st September and will use the funding to develop machine learning in predictive analytics, allowing the technology to forecast cyber attacks before they happen. Telecom operators will have the ability to watch attack scenarios to help them understand external activity, which is a key indicator of the internet and behaviour data from BlackDice’s device network.
Innovate UK, the UK’s innovation agency is part of UK Research and Innovation. It will be investing up to £191 million to fund single and collaborative research and development projects through its Sustainable Innovation Fund over the next two years. The programme will fund 1,103 projects, 1,189 businesses with a total of over £130 million in support for the UK.
Paul Hague, CEO of BlackDice commented: “These funds feed directly into BlackDice’s 2021 plans for software development. The funds will help to provide state of the art preventative vaccine technology which helps to protect devices and networks from the rising threat of cyber attacks.
“2020 has been a challenging year for telecommunication operators, and this grant shows the importance of cyber security solutions and how they can keep customers’ data safe from harm.”
Innovate UK, the UK’s innovation agency Executive Chair Dr Ian Campbell said: “In these difficult times we have seen the best of British business innovation. The pandemic is not just a health emergency but one that impacts society and the economy.
“BlackDice, along with every initiative Innovate UK has supported through this fund, is an important step forward in driving sustainable economic development. Each one is also helping to realise the ambitions of hard-working people.”
BlackDice’s cyber security technology significantly grows telecommunications companies’ revenue per subscriber whilst reducing customer churn and operational costs. The software protects networks and IoT devices from harm, by identifying, fingerprinting and monitoring device behaviours. The software also provides real-time threat assessments and filtering solutions.