Pan-Wales Technium Initiative launched

10 December 2001

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Sir David Rowe-Beddoe, chairman of the Welsh Development Agency has announced the launch of a Â£49m programme to boost the Welsh economy and promote local small businesses. The announcement follows the success of the Swansea-based Technium centre, which was designed and built to provide a hothouse environment to enable new and innovative companies to expand and to attract high-value satellite research and development operations from international blue chip companies. Currently there are a dozen small businesses (ten of which are indigenous to Wales) situated in the Swansea initiative, from a variety of sectors. Companies basing themselves in the Technium centre receive free on-site business and technical help and free consultancy services from top accountants, law firms and patent agents. The University of Wales in Swansea has also played a large role in the establishing of Technium, especially in the attraction of inward investment to the region. Looking forwards the WDA plans to roll-out a further 20 Technium centres along the following lines: each region in Wales will have a central â€˜hubâ€™ Technium, with satellite Technium surrounding them â€“ each catering for a different key growth sector and linked to centres of excellence in higher education and each other via a broadband network.