Enterprise hub set to boost economic growth on island
ANEW regional Enterprise Hub will be set up on Anglesey with ‘spokes’ created across North Wales to help drive economic growth in the area.
Economy Secretary Ken Skates launched the first Hub in Wrexham last year with a promise to roll out more sites in the future.
Now he has confirmed Gaerwen, Newtown, Caerphilly and Carmarthen as the locations for four new sites to encourage and support entrepreneurship in Wales.
There will be North Wales ‘spokes’ in Conwy Business Centre, Porthmadog, Ruthin, Llangefni, Rhyl, Botwnnog and Dolgellau.
The Gaerwen site will be based at Menai Science Park, which opened earlier this year.
The Welsh Government, partly funded by the European Regional Development Fund, has invested over £4m in the new Enterprise Hubs.
They are designed to provide individuals and companies with the space to network, innovate, establish their enterprises and access a range of support services, such as advice on pitching, work shops and business surgeries.
Entrepreneurs at the hubs will have access to the breadth of support available from Business Wales, as well as from partners including colleges, universities, local authorities and the Development Bank of Wales, providing a well-connected, simple and visible support system for entrepreneurs, as championed by Be The Spark.
Economy Secretary Ken Skates said: “My Economic Action Plan is clear that supporting and encourag- ing entrepreneurship across Wales is absolutely crucial if we are to succeed in growing Wales’ economy.
“And I expect my decision to deliver these business hubs in North West Wales, Mid Wales, the South West Valleys and the South East Valleys to provide a real boost to our regional economies.
“Alongside the satellite locations, these five hubs will ensure that budding entrepreneurs in all parts of Wales can access the space and help they need to get their ideas off the ground, creating at least 700 new enterprises and 1160 new quality jobs in the process.
“The evidence is clear that, by working collaboratively and bringing academia, industry and local partners closer together in the right environment, we can deliver a host of wider benefits to areas surrounding the hubs, Mr Skates added.
“This can only be good news for our economic regions, and for delivering my ambition of ensuring the fruits of prosperity fall much more evenly across Wales.
“I look forward to seeing entrepreneurs from all parts of Wales benefit at the earliest opportunity.”
The Wrexham Hub officially opened in May 2018 and already houses 40 members.
It is anticipated that the remaining four Hubs will be fully operational by January 2019.