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£1m Investment in Wrexham to Deliver 100 New Businesses and 260 Jobs

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Economy Secretary Ken Skates today announced £1m funding to establish a new business hub in Wrexham to support the creation of 100 new enterprises and the creation of 260 new jobs over the next two years.

The two year pilot, that aims to help secure at least £1m of private investment for its member entrepreneurs, will provide wrap round support for aspiring entrepreneurs and will be delivered by Business Wales in association with Welsh ICE.

Ken Skates said:

“I am delighted to announce funding for the new incubator in Wrexham to harness, support and encourage the fantastic entrepreneurial talent in the region.

“Innovation and entrepreneurship are vital drivers for the economy and I want to continue to create the best environment for entrepreneurs across Wales and will be using the pilot to inform my future economic priorities.

“The importance of providing space, community and support for aspiring entrepreneurs is key to success and I am keen to build on and complement the existing infrastructure across Wales.”

The Hub will provide a community for entrepreneurs that will link to the wider ecosystem including Glyndwr University, Coleg Cambria, industry and support agencies in the region.

It effectively will roll out the successful business incubator models that are established in Wales and will focus on providing a supportive environment for like minded entrepreneurs to develop their businesses.

Welsh ICE CEO and Founder Gareth I. Jones, said:

“We are excited to start to work more with the community in Wrexham, and partners at Welsh Government and Business Wales, to help anyone with an idea for their own business, no matter how big or small, to make positive steps towards launching their own start-up.”

The Hub will be delivered through the Business Wales consortium – which is backed by EU funding – who will work collaboratively with Caerphilly based Welsh ICE which has four years of experience of running a successful incubation facility.

It will provide a shared work environment, business advice, structured workshops, increased opportunities and challenges designed to inspire potential entrepreneurs to develop resilient and successful companies.

It will also provide entrepreneurs with international trade support, high quality business advice, intercompany and individual networking opportunities, and mentoring and training support.

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Life Sciences Hub Wales is the focal point for the Life Sciences sector in Wales – stimulating innovation, collaboration and investment.

The Hub is the ‘nerve centre’ for the eco-system in Wales, facilitating and encouraging innovation, aligning research with commercialisation, providing access to finance and expertise, and supporting business development in existing organisations.

Bringing together all facets of the network in Wales including academic, business, clinical, government, professional services and funding organisations, the Hub provides a commercially-driven resource for the sector.

The Hub hosts and engages organisations large and small and not only those in Life Sciences but a fully engaged network of professional services providing expertise and support to the sector.

Member organisations and partners benefit from a dedicated venue and a single access point to bespoke facilities, co-ordinated support, networking opportunities, professional advice, exclusive events, and most importantly promotional and funding opportunities.

Business and organisations working at the Hub include those operating in Pharmaceutical, Medical Technology, Biotechnology, Research & Development, Diagnostics, Clinical, Funding, Service & Supply Chain, and Business Support.

Get in touch to find out how your business or organisation can benefit from working with the Hub and discover more about our network of entrepreneurs, academics, SMEs and multinational corporations, and find out more about Wales’ impact on the global Life Sciences eco-system.

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