Iconic university building becomes tech business hub
PART of the famous seafront Old College building in Aberystwyth is to be transformed into a new business hub for young entrepreneurs.
The £1.4m project will transform the currently unused South Seddon building into business units.
Led by Aberystwyth University, the scheme will create 12 new modern workspaces for the entrepreneurs in the tech sector.
It will also be marketed to provide affordable space for graduates and postgraduate entrepreneurs from the university.
The Welsh Government has confirmed £900,000 of EU-backed funding towards the project.
The funding for the South Seddon building is part of a larger regeneration project, which will be announced shortly.
Finance Secretary Mark Drakeford, who next week will succeed Carwyn Jones as First Minister, said: “This is another positive example of how the Welsh Government is using EU funds to support new industries to develop and thrive, resulting in new jobs, products and services.”
Professor Elizabeth Treasure, Vice-Chancellor of Aberystwyth University, said: “Economic regeneration is a key element of our plans to redevelop Old College.
“The new business units in South Seddon will lead to the creation of high-quality jobs and product innovation, and we are grateful to the Welsh Government and the Welsh European Funding Office for their valued support.
“We will be unveiling our ambitious proposals for the wider redevelopment of this unique Grade I listed building and launching a public consultation on December 11.”
The Welsh Government has confirmed £900,000 of EU-backed funding towards the project.
The new business space will be ready for occupancy in the summer of 2021.
Meanwhile, two companies in Anglesey are hoping to support hundreds of new businesses after securing a £1m contract to set up an enterprise hub.
Llangefni-based Menter Môn, in partnership with M-SParc, has won a Welsh Government contract to run one of five new enterprise hubs across Wales. They will be responsible for the north-west Wales hub, covering Anglesey, Gwynedd, Conwy and Denbighshire, from the iconic new M-SParc building at Gaerwen.
The M-SParc hub will have seven satellites – the Menter Môn offices in Llangefni and Porthmadog and others at Botwnnog, Dolgellau, Conwy Business Centre, Ruthin industrial estate and Rhyl. One hub in Wrexham is already up and running, with another based in mid Wales and two in south Wales.
The new contract means Menter Môn can both grow geographically and extend the services it already offers. Managing director Dafydd Gruffydd expects the north-west Wales hub to start in January. Welsh Government funding will support the project for three years.
Offering expert support and guidance, the aim is to be a catalyst for business start-ups.
Mr Gruffydd said: “The hub will be a space for businesses to come together in a creative and collaborative environment to develop and grow ideas, building a community of entrepreneurs to boost the local economy. We believe that the skills and services both Menter Môn and M-SParc bring this project complement each other, and it’s a great opportunity to develop new partnerships in different sectors.”
Pryderi ap Rhisiart, director at M-SParc, said: “We’re delighted to be working with Menter Môn on this contract and it is a great opportunity for business and entrepreneurs to come together to make the most of the fantastic facilities we have on offer here at M-SParc. We are proud of our flagship building and we think entrepreneurs can benefit from the dynamic atmosphere we have created here.”