CyLon aims to help London-based security startups

A new London-based not-for-profit organization is aimed at helping information security startups in the city at jumpstarting their success.

The 13-week Cyber London (CyLon) program will start in April and feature a batch of start-ups that include companies in the health, defense, retail, and telecom sectors, according to The Guardian.

Completely funded through corporate sponsorships, CyLon is trying to establish itself as a launchpad for young organizations and will not take any equity stakes in them. Each team will receive between $7,500 to $22,700 per founder in exchange for full participation in the program intended for living costs for teams, according to CyLon's FAQ page.

In addition to providing a workspace at their offices, each team will be scheduled for mentoring and workshops, as well as be considered for additional investment by CyLon founders and introductions to venture capital networks.