A New Era for Start-ups in North Wales

Supporting the next generation of entrepreneurs is essential for the long-term prosperity of North Wales. For too long, the region has seen too many talented young people leave to start businesses elsewhere, not because of a lack of ambition, but because of a lack of the right infrastructure, support, and funding. That is something we are determined to change. 

Through our work with the Great British Entrepreneur Awards, the UK StartUp Awards and the Fast Growth Index, we have seen what makes start-ups succeed. It isn’t just about having a great idea or even securing a big funding round. It is about getting the right support at the right time, from people who understand what it takes to turn an idea into a business that creates jobs and drives economic growth. 

That is why, together with our investor Nick Pritchard – one of the most successful entrepreneurs from the region – we are building something new for North Wales. Ideas Forums is transforming two historic buildings – Bodlondeb in Conwy and the old post office in Bangor – into dedicated hubs for entrepreneurship and innovation. These spaces will provide free office space, wraparound business support, and crucially, access to funding for new start-ups. 

Bodlondeb, the former headquarters of Conwy County Borough Council, is an iconic Grade II-listed building. Now, it is set to become a world-class centre for entrepreneurship. The scale of the opportunity is huge. The building will provide 250 workspaces, and we want to create dedicated areas for high-potential sectors, from AI to tourism and health and wellness. The aim is simple: to make it easier for people with great ideas to start and scale their businesses here in North Wales. 

At the same time, the old post office in Bangor offers an opportunity to create stronger links between the university and the business community. We are already in discussions with Bangor University about how we can work together to encourage more graduate start-ups and help commercialise the incredible research and intellectual property being generated there. If we can create an environment where young businesses can thrive, we can help retain more of the talent that might otherwise move elsewhere. 

The other key ingredient is funding. One of the biggest barriers for start-ups isn’t necessarily securing large-scale investment – it is getting the relatively small amounts of capital they need to get off the ground. That is why we have launched an initial £1 million fund to support early-stage businesses moving into these hubs. 

Our research has shown that around half of all new businesses start with less than £10,000. By providing this early-stage funding in a way that is tied to real business milestones – such as securing their first paying customer – we can help young entrepreneurs develop the right mindset from day one. The goal is to create businesses that can grow and sustain themselves, rather than just surviving on external investment. 

This is not about relying on government grants or subsidies. The reality is that private sector investment and entrepreneurial leadership are what drive lasting economic change. That is why it is so significant that this initiative is being driven by private investment, with Nick Pritchard putting substantial funding into the project, not just to secure the buildings but to provide long-term backing for the businesses that will be based there. 

North Wales has everything it needs to be a thriving hub for entrepreneurship – talent, ambition, and a strong sense of community. What has been missing is the right infrastructure and investment to support that potential. That is what we are now working to provide. 

This is just the start of an exciting new chapter for North Wales. Now, it is about bringing together those who want to be part of it.