Welsh businesses encouraged to apply for support to boost exports and growth

The Welsh Government is calling on Welsh businesses in development with high growth potential to apply for a new scheme providing tailored support to help their business grow, boost exports and create new jobs.

The pre-start business accelerator programme is open to businesses that can outline an ambitious growth strategy with the aim of creating 10 jobs and turning over £2m in its first three years. Applicants will also be assisted in identifying opportunities in international market, with the aim of generating 30% of its revenue through export.

The 12-week pre-start business accelerator programme is being delivered through Business Wales Accelerated Growth Programme, in partnership Welsh ICE, Wales’ largest innovation centre and co-working space. The Business Wales Accelerated Growth Programme, part-funded by the European Regional Development Fund, will create new opportunities for up to 130 new high growth coaches and mentors.

Economy Minister, Edwina Hart said:

“As a pro-business government we are committed to supporting Welsh entrepreneurs and companies with ambitious plans for growth and creating jobs. The new pre-start business accelerator programme is a chance for businesses with growth potential to receive tailored support and coaching to boost their exports and turnover. It is being delivered through the Welsh Government’s enhanced Business Wales service which, while continuing to provide comprehensive support, advice and information to new entrepreneurs and existing SMEs, located in Wales, has a new focus on supporting new and existing businesses which show growth and export potential.”

Businesses accepted on to the pre accelerator programme will receive a range of exclusive and bespoke support services including access to a network of investors, trade missions to events across the UK and needs analysis driven masterclasses and workshops from some of the most experienced and successful business owners in Wales. Successful applicants will also be offered office space at ICE.

Joint Venture Partner of Business Wales Accelerated Growth Programme, David Notley said:

“The Accelerated Growth Programme is looking for the very best high growth businesses in Wales.  Start-ups by their nature are new and exciting – but that comes with risk and uncertainty, which is why guidance from experienced entrepreneurs is so crucial. The mentorship and scaffolding that the pre-start accelerator growth programme offers is second to none and ICE is a perfect place to foster and nurture future high-growth businesses.”

Gareth Jones, CEO of Welsh ICE, said:

“We are looking for people with ideas, who have ambitions to grow, build a team and trade beyond borders. Our targets are ambitious, and therefore applicants will have to share that ambition – but for the right people, the result could be life changing.”

The closing date for applications is February 7th and applicants are invited to apply via the ICE website at http://welshice.org/. The submissions will then be evaluated by a panel of judges, with businesses being notified by February 19th.