TechHub, one of London’s first tech co-working spaces will be opening its first site in Wales.
The south west city of Swansea will be their third UK office, due to open in October this year.
Backed by the Welsh Assembly Government
It will offer 50 desks for resident startups, plus drop-in workspace, free advice sessions and workshops for members.
The project is in conjunction with the Welsh Government as a non-profit organisation separate to TechHub in London.
The Welsh Government have given them a £20,000 grant to help with initial costs.
Any money made by the working space will be reinvested into the organisation.
Swansea is a three-hour train from London and hopes to create an alternative hub to Tech City.
Swansea over Cardiff
Speaking with Tech City News, James Knight, Head of International Development at TechHub told us they chose Swansea over Cardiff because they have people ready to work in the city and there’s already a startup initiative within Cardiff.
Knight said “The Welsh Government are proactive at supporting initiatives. They recognise that high growth companies are pivotal to the economy.”
Welsh entrepreneurship has seen a rise over recent years. The Global Entrepreneurship Monitoring report for 2011 put the level of enterprise amongst those aged 18-29 at 9.7%, up from 3.4% in 2002.
In comparison, England was rated 7.4% in 2011 compared with 4.4% in 2002.
TechHub currently also have locations in London, Manchester, Riga and Bucharest.