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South Wales
South Wales is emerging as a tech force to be reckoned with as our report shows that there are 28,000 people in digital employment. The majority of the digital companies in the area are based in Cardiff or Swansea and 98% expect their revenue to grow next year. Startups in the area report great social networks as a major benefit and are supported by organisations such as Welsh Innovation Centre for Enterprise and Cardiff Start.
Tech companies in South Wales have great options when it comes to co-working spaces with the likes of Indycube, GloWorks and TechHub Swansea all providing affordable, collaborative options. This cohesive community feel is also boosted by industry groups such as Unified Diff, Cardiff & Swansea Start, Games Dev South Wales and Digital 2015.
The cluster has a wide range of talent, with key sector focus on HealthTech; Data Management & Analytics; and E-commerce, as well as great TravelTech, FinTech and games development companies. Successful local startups include health app Nudjed and photo printing API Pwinty.
Funds such as Business Wales’ Digital Development Fund and Cardiff University’s Fusion IP partnership were mentioned by three quarters of companies as having helped with access to finance, though funding remains a concern. Students are also assisted by the Alacrity foundation in Newport which helps graduates set up high-tech enterprises.
CEO of Welsh ICE, Gareth Jones, commented on the diversity of digital companies in the area: “It’s a really diverse sector. There’s a strong HealthTech community that works with the BioTech companies we have here, but also lots of data companies and E-commerce.”
Support:
- IndyCube, Co-working space located in three locations across the city
- Cardiff Medicentre, an incubator for medtech and biotech startups
- Xenos, an introduction service between businesses and local investors
- Community 2.0 – ICT support for companies in Wales
Funding:
- Connection Voucher Scheme, can provide businesses with up to £3,000 to install or upgrade superfast broadband on their premises
- Capital Cardiff – Startup Grant – Max £5,000 match funding
- Finance Wales – Finance Wales has a number of funding packages, with a mix of loans, equity financing etc.
- Digital Development Fund – To help digital/creative business develop new technology
- Welsh Government Repayable Finance – Funding for growth capital for businesses
- Mackintosh Capital – Angel investment (£100k – £1m)
- Indycube Ventures – Wales leading co-working company
- Xenos – Angel investment network
- WestBridge Capital – Venture Capital fund (£1m – £8m)
Pwinty provides an API (application programme interface) allowing users to order photo prints from within an application. It helps app creators to monetise apps while driving customer satisfaction.
Landmax.pro is a cloud-based, one-stop solution for lettings and estate agents which enables them to manage accounts, maintenance, advertising and communication all in one place.
Dizzyjam is an E-commerce platform for selling products to a community or fanbase. Its bespoke tools enable users to monetise massive vertical markets.
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