Torsion has secured part of a £134 million government investment to keep UK’s greenest, most innovative businesses thriving part of the government’s commitment to build back better.
Torsion secured the funding for their identity governance and data access management software which enables businesses of all sizes to keep their file sharing and collaboration secure whilst continuing to work from home.
At a time when file sharing is rising exponentially, the software automatically monitors who has access to what data, why and when and alerts business users to any potential breaches or out of date permissions.
Innovate UK, as part of UK Research and Innovation, is investing up to £191 million to fund single and collaborative research and development projects as part of the Sustainable Innovation Fund over the next two years. The aim of these competitions is to help all sectors of the UK rebuild after the effects of COVID-19.
The Sustainable Innovation Fund is funding 1,103 projects, 1189 UK businesses and totalling over £130 million in support across the UK.
Innovate UK 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.
“Torsion, along with every initiative that 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.”
Peter Bradley, CEO of Torsion adds:
“This is a great boost to our business. Not only will it enable us to continue our research and development, we have also created new job opportunities. Investment in UK innovation, such as those selected by this fund, is vital in securing the economy and sustainability of the UK.”