Entrepreneur Andrew Richards has announced a partnership investment in Welsh ICE, backing the Valleys-based enterprise hub’s work to help entrepreneurs start, survive and grow businesses across Wales.
Richards, founder of AIS Utilities and an investor in a range of Welsh businesses, said the partnership was about investing in the “entrepreneurial infrastructure” that helps turn local ambition into sustainable companies, jobs and stronger communities.
Rather than taking an equity stake, Richards’ commitment is structured as a partnership investment designed to support Welsh ICE’s wider work with founders, growing businesses and local communities.
“We rightly talk about investing in roads, rail, housing, digital connectivity and regeneration,” said Richards.
“But there is another form of infrastructure which is every bit as important: the infrastructure that helps people build businesses.
“That means access to mentors, peer networks, investment, confidence, commercial advice and the right relationships at the right time. Too often, business success comes down to chance. It should not.”
Richards, who grew up in the Valleys, said he had seen first-hand the depth of entrepreneurial talent across Welsh communities, but also the uneven access to opportunity.
“Talent exists everywhere, including in the Valleys. What is not always equally available is opportunity,” he said.
“Too many capable people have brilliant ideas and the work ethic to make them happen, but do not have the networks or support around them that others may take for granted.”
With a shared vision for an entrepreneurial eco-system in Wales, Richards believes the partnership with Welsh ICE is a natural fit.
He said:
“This partnership with Welsh ICE is about helping more people access that support. It is about ensuring that where someone grows up does not define the scale of business they can build.”
For more than a decade, Welsh ICE has been at the heart of the Valleys’ entrepreneurial ecosystem, helping thousands of founders turn ideas into viable businesses and ambitions into lasting impact.
As an established entrepreneurial incubator, Welsh ICE has brought together practical support, mentoring, collaborative workspace and connections across investors, universities, business support organisations and corporate partners.
Lesley Williams, Managing Director of Welsh ICE, said the partnership investment represented a significant vote of confidence in the role entrepreneurial ecosystems can play in strengthening Wales’ economy.
“Starting and growing a business can be an incredibly isolating experience, particularly when founders do not already have access to established networks, mentors or investment,” said Williams.
“Our role is to help remove some of those barriers. We create an environment where people can ask questions, learn from others, find collaborators and gain the confidence to take the next step.
“Andrew’s partnership investment recognises that this work is not simply about helping individual companies. When businesses in a community grow, they create jobs, spend with local suppliers, support families and build confidence in the communities around them.”
Welsh ICE says its members consistently identify community as one of the most valuable elements of the organisation’s offer, with 95% reporting that being part of the network has made them more innovative.
Williams added:
“Entrepreneurship is rarely a solo journey. It is shaped by the people around you, the advice you can access and the opportunities you are connected to.
“That is why support such as Andrew’s matters. It allows us to continue building the kind of connected, practical and ambitious business community that helps founders move from idea to action.”
Richards said the investment reflected his belief that Wales should look beyond traditional individual business support and think more deliberately about the wider ecosystems that enable companies to emerge and grow.
“There is a difference between investing in one company and investing in the environment that helps hundreds of companies become stronger,” he said.
“Both matter, but ecosystem investment can create a far greater multiplier effect. Stronger entrepreneurs build stronger businesses. Stronger businesses create jobs, buy from local suppliers and help make communities more resilient.
“That is how you create lasting economic confidence.”
Richards said government, local authorities, corporates, universities and private investors all had a role to play in strengthening Wales’ entrepreneurial ecosystem.
Williams said Welsh ICE hoped the partnership would encourage other business leaders and organisations to consider how they could contribute to the long-term strength of Wales’ enterprise economy.
“This is a powerful vote of confidence in Welsh entrepreneurs and in the potential of our communities,” she said.
“It shows that successful business leaders can play a meaningful role in creating opportunities for the next generation of founders. We are excited to work with Andrew and to continue demonstrating what is possible when businesses, communities and investors work together.”
