Bristol and Bath boosts silicon and high tech with £2m investment
Bristol and Bath is providing £2m to boost silicon and high tech startups.
Twelve startups and small companies in the region have been awarded close to £2m ($3m) from the West of England Growth Fund, with Blu Wireless Technology awarded £1m for its 60GHz programmable IP development. The Growth Fund administers UK and European matched funds for the region and has already awarded £11.85m to SME companies.
All the companies are in the Bristol or Bath centres of the SETsquared incubator.
Bath businesses receiving funding include app developer neighbourly (£94k), Clean Energy (£27k), Citeab (£26k), Tivarri , Envolve Technologies (£132k) and CloudFind (£90k).
”I’m delighted that our companies have benefited from this investment by the West of England Growth Fund – the grants will now leverage additional multi-million pound private investments into these companies,” said Simon Bond, Centre Director of Bath SETsquared and the University of Bath Innovation Centre.
Members of the Bristol SETsquared Centre in receipt of awards are Digital TV Labs (£233k), Blue Speck Financial (£220k), AptCore (£80k), Nanoscope Services (£40k) and SecondSync (£100k).
“Bristol and Bath has some fantastic tech businesses – in software, internet technology, electronics, semiconductor, biotech and across all sorts of sectors. These awards will make a massive impact into jobs growth here – and SETsquared has a track record of businesses growing steadily without failing, so these are high-value, sustainable jobs,” said Nick Sturge, Bristol SETsquared Director.
Paul Wilson, chief executive of the West of England LEP, says: “Through this fund we have already invested around £14m, which has attracted more than £41 million of private sector investment into the local economy, creating or safeguarding over 1,500 jobs. High tech is a significant area of growth for us – we already compete internationally and our region is nurturing a future generation of high tech businesses.”
Bristol pumps £2m into silicon and high tech
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