Finance Rebecca Smith · 3 November 2015
South Wales innovation centre boosted by 250, 000 to help support new firms
The Welsh Innovation Centre for Enterprise (ICE) has secured over 250, 000 in funding to help support startup businesses in Wales. It has been provided by the grant-making charity Fairwood Trust, the Welsh government, Lloyds Bank and office developer WCR. Welsh ICE intends to use the funding to help provide new firms with a structured route to sustainability, creating jobs and boosting the Welsh economy in the process. Some 50 firms featuring in the ICE 50 project will be given a fully-funded package with a tailored mentoring programme, creative workshops, high-speed internet access and one-to-one support for 12 months. Firms that have benefited from previous funding include online community tool Noddlepod, digital health tool for businesses Nudjed, design agency Rose-Innes and CGI and animation studio Bomper. Nudjed co-founder Warren Fauvel said the financial support allowed him to explore ideas in the early stages without the pressure of having to pay overheads. Since launching, Nudjed has steadily expanded and has a team of nine working with organisations in the UK, including the NHS. Animation studio Bomper meanwhile, moved into one of the collaborative labs at ICE with the networking opportunities soon leading to a core team of four employees with other specialist freelancers. Bomper founder Emlyn Davies said his business would remain a part of the ICE community as long as there is space for us to continue to grow. welsh ICE is an amazing collaborative community of businesses, and employees of businesses here have not only become friends but collaborators and suppliers, he explained. Whether you’re looking for advice on the best way to approach business grants and funding, seek legal advice for protecting intellectual property rights, complete VAT returns, or even find a reputable local tradesman, someone at ICE will have answers to any questions you could have in setting up and running a business.
ABOUT THE EXPERTRebecca Smith
Rebecca is a reporter for Business Advice. Prior to this, she worked with a range of tech, advertising, media and digital clients at Propeller PR and did freelance work for The Telegraph.