Information assurance firm NCC Group has launched a new national challenge dubbed Cyber 10K, with the winners of the best cyber security solutions receiving £10,000 to develop their product.
The competition is open to both individuals and groups, and aims to find solutions to the cyber challenges affecting both businesses and consumers today.
It is split into categories including cloud security, cyber incident remediation, mobile and app security, consumer cyber awareness and cyber initiatives for resource-constrained environments.
The winners of each category will receive the £10,000 prize plus guidance and advice from experts in the field.
The competition will be judged by: Matt Warman, head of technology at The Daily Telegraph; Sadie Creese, director of the cyber security centre at the University of Oxford; Robert Thompson of CESG; Dr Tim Watson, director of the University of Warwick's cyber security centre; and Paul Vlissidis, technical director at NCC Group.
NCC Group CEO Rob Cotton (pictured), said that the competition was about "stimulating creative thinking and encouraging an innovative approach to challenges that we as an industry have yet to overcome".
"We're talking about the biggest threat to modern society, and the more we rely on technology the greater this threat becomes. We have to do everything we can to further knowledge in the sector and stay one step ahead of cyber crime. This initiative is one of the ways that we're hoping to do that," he said.
"Cyber 10K is an investment in the next generation of cyber security talent. We encourage everyone from students to small technology businesses to get involved and put their ideas forward," he added.
The deadline for entries is 24 April 2014.