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British Business Bank supports Welsh startup programme

British Business Bank Welsh
Image credit: muratart via Shutterstock

The state-owned British Business Bank is supporting an investor readiness programme for Welsh startups, run by Tramshed Tech.

Known for its Startup Academy, Tramshed Tech is a Cardiff-based group that supports the growth of early-stage startups in the area with office space and a portfolio of incubator and accelerator programmes.

Tramshed’s latest offering, the Investor Readiness programme, is a 12-week scheme for pre-seed startups in Wales looking to plan for the next stages of growth.

At the end of the course, the startups will present their tech to a network of investors.

“This programme represents a crucial step towards providing much-needed funding support for innovative early-stage tech startups,” said Sophie Webber, innovation and partnerships manager at Tramshed Tech.

“By equipping these startups with the necessary skills, knowledge and mindset, we are not only helping them to prepare for investment but also empowering them to thrive.”

The programme is supported by the British Business Bank, or BBB, a government-backed investment group that provides financial support to SMEs.

It recently announced a £130m regional investment fund targeting Welsh companies would be launched in Autumn 2023.

The economic development bank has also unveiled similar funds targeting Scotland and Northern Ireland.

“Our mission at BBB is to drive sustainable growth and prosperity across the UK by improving access to finance for smaller businesses and unlocking the potential of innovative business is key to that growth and prosperity,” said Jess Phillips, senior network manager at British Business Bank.

“Through the Investor Readiness Programme entrepreneurs will be able to access the knowledge and networks to enable them to successfully raise the capital they require to start and grow their venture.”

A recent report from the Coalition for a Digital Economy (Coadec), claimed that Wales had the potential to develop a leading tech sector, however, it was held back by limited support from the Welsh government.

Read more: Beyond the Capital with Cardiff-based investor Waterspring Ventures