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Spotlight: Cybersecurity and UK Offices – 2018

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£220m of venture capital investment was deployed in the UK's cybersecurity sector during 2017, the strongest year on record and a 116% increase on 2016

Summary

■ With more market intelligence and customer data stored online than ever before, UK businesses are increasingly under threat from cyber attacks.

■ Despite the UK Government committing £1.9 billion of investment in cybersecurity over the next five years, Cybersecurity Ventures forecast a global talent shortfall of 1.5 million cybersecurity jobs by 2021.

■ A record £220 million of venture capital investment was invested in the UK's cybersecurity sector during 2017, which is expected to create new demand for office space.

■ However, 49% of this venture capital investment was invested in Central London. Investors need to look outside Central London in order to fuel growth in the regions.

■ Savills estimate that one million sq ft of office space will be taken by cybersecurity occupiers across the UK regions over the next five years.

■ The regional cities must follow London's example of providing cybersecurity accelerators to develop regional clusters of startups. Regional universities should also offer more cyber related degrees to support growth outside London.

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