The Cyber Security Research Centre secures competitive Cyber ASAP funding

Team of researchers at London Met awarded funding to create a software that will revolutionise 'security by design'.

Date: 12 June 2024

Under the directorship of Prof. Vassil Vassilev, a team of researchers from the Cyber Security Research Centre at London Metropolitan University has won a Cyber ASAP (Academic Start-up Accelerator Programme) grant for its project entitled Risk Assessment in Transaction under Security Threats. This project aims at creating a highly efficient and flexible software product, which will revolutionise the area known as security by design at significantly lower costs than current market leaders.

The product is based on a completely original method, which was developed after several years of research for securing financial transactions under cyber threats, conducted at the Cyber Security Research Centre together with its industrial partners. Prof. Vassilev said: “The breakthrough came after a series of publications at prestigious conferences and several PhD-level research studies, involving core members of the centre".

Prof. Karim Ouazzane commented on this achievement: "Re-engaging in the Academic Start-up Accelerator Programme competition will enable us to capitalize on our past successes across the three previous rounds. This will give us a leading edge in commercialising our findings by translating fundamental ideas into tangible products. Such advancements will significantly impact the culture of knowledge exchange within our centres and groups, offering Early Career Researchers opportunities to engage with businesses and gain valuable commercial exposure. Participating in the ASAP scheme will also allow us to learn about emerging technology trends, which can be integrated into our research centres and groups. This, in turn, will drive our Research and Knowledge Exchange activities to new heights, leading to better funding opportunities and enhancing the university's branding."

Having successful completed the first stage of the Cyber ASAP programme (market validation), the team is currently working with potential customers on market validation. The team is excited and ready to meet the challenge of developing a minimum viable product to bring the product to market. Claire Renwick, Head of Business Engagement said: “We would like to congratulate the team for their successes so far. We are looking forward to supporting the team to progress through the later stages of the programme, and ultimately establishing a spin-out company”.

5 researchers who won the funding standing in front of the door to the Cybersecurity Research Centre

Photo, from left: Dr Mohamed Chahine Ghanem, Dr Paweł Gąsiorowski, Dr Viktor Sowiński-Mydlarz, Prof. Vassil Vassilev and Dr Cheima Ali Bensaad

Notes: Innovate UK, part of UK Innovation and Research is the UK’s innovation agency. Amongst its programmes Cyber ASAP is of particular interest for specialists, researchers and engineers in cyber security. It targets the spinning out of new startup companies in cyber security from UK universities to support the digital transformation of many businesses and to protect commercial operations within cyberspace.