Budding entrepreneurs are being encouraged to apply for this year’s pre-start Accelerator, following in the footsteps of several high-growth businesses now preparing to launch, as a result of last year’s Programme.
The 12 week Pre-start Accelerator is delivered through Welsh ICE, Wales’ largest innovation centre and co-working space, in partnership with the Business Wales Accelerated Growth Programme which is funded by the European Regional Development Fund through the Welsh Government.
As it prepares for its second year, the Programme looks to build on previous progress, where over half of the projected high-growth businesses are looking to launch within the next three months, garnering significant investment in the process. The programme aims to inject over £40m in to the Welsh economy over three years and is anticipated to create 200 jobs in the process.
The Pre-Start Accelerator is open to businesses that can outline an ambitious growth strategy, with the aim of creating at least 10 jobs and turning over £2m, in its first three years. Applicants will also be assisted in identifying opportunities in international markets, with the aim of generating 30% of their revenue through export.
Businesses accepted onto the Programme, will receive a range of exclusive and bespoke support services, including access to a network of investors and needs analysis driven masterclasses and workshops, from some of the most experienced and successful business specialists in Wales.
Gerry Hallett, Business Wales Accelerated Growth Programme Manager, said “This is an excellent opportunity, working with key delivery partners in Wales, to identify and support the “pre-start” segment of the economy, helping develop new, fresh, creative, high value and high growth businesses across Wales
Mandy Weston, COO at Welsh ICE said “Gaining entry to the Accelerator Programme is tough and proving that you are capable of creating a minimum of 10 jobs and turning over £2m, in your first three years, is no mean feat. However, twelve companies made the cut last year and over half will have launched, in the next three months, with the others looking to launch in 2017. The Programme has made a very promising start and shows how, with the right idea, motivation and support, pre-start companies can progress toward bigger things.”
Gemma Hallett is one of the entrepreneurs to benefit from the programme. She is the founder of miFuture, a career-matching mobile app for school leavers.
Gemma said: “Starting a business can be very daunting, especially when you set yourself such ambitious targets. However, the programme provided me with the support I needed to get miFuture off the ground; introducing me to the experts I needed, when I needed them.
Be that developers, business planners or finance experts: once I needed specific support, I was introduced to the appropriate person”.
Applicants are invited to apply, via the Welsh ICE website www.welshice.org.
For more information or support regarding applications you can e-mail email@example.com or call 029 2014 0040.
For more information on the support available for businesses in Wales, please see https://businesswales.gov.wales/