1. Torfaen.. for Business.. for Lifestyle.. for you
Economic Development

2. GROW YOUR OWN! Business Incubation As A Change Agent
For Your Local Economy

3. David Ludlow Head of Economic Development Dawson Evans Business Development Manager Torfaen County Borough Council

4. Torfaen – Where? South East Wales Valley Authority
15 Miles Long and 4 Miles Wide Population 91,000
M4 Corridor on Southern Border
Brecon Beacons on North Border
3 Centres of Population –
Cwmbran, Pontypool and Blaenavon

5. Torfaen - Issues Comparatively Low GDP Levels (Wales)
Decline of Traditional Employment
Lack of Graduate Opportunities
Talent Drain
Torfaen is a Net Exporter of Labour
Torfaen Has Fewer Businesses per 10,000 Population Than Wales

6. Torfaen - Issues
Torfaen Has Proportionately Fewer Small Businesses Than The Rest of Britain
Torfaen Has Proportionately Fewer VAT Registrations Than Wales and The Rest of Britain But Has More Unregistered Businesses
Torfaen Has a Lower Number of Patent Registrations per 1000 Businesses Than Rest of Wales and Britain
Torfaen Has Proportionately More Businesses in Manufacturing and Construction Than the Rest of Britain

7. Torfaen – Issue Summary
Limited History of Entrepreneurship
Need More Technology Based Businesses
A Culture of Innovation is Vital for Economic and Personal Success
Torfaen Must Profit From Global Innovation and Technology
Education and Training for Innovation and Entrepreneurship is Vital for the Future

8. Torfaen – Reaction To Issues
Torfaen Sees Business Incubation as Vital to its Future
Co-ordinated Approach to the Creation of New Business and Growth of Existing Businesses Using Innovation as a Driver
Production of a Local Entrepreneurship Plan to Ensure the Torfaen Community Realises its Potential

9. Feasibility Study DTZ Pieda consultancy report 2002
Demand for 30 early stage businesses per annum
50% local demand
20% spin out businesses from educational establishments
30% wider catchment area

10. Technium Springboard Building
25,000 square feet
12,300 square feet of rentable office space
square feet units
1000 square feet of e-pod space
1000 square feet training facility
Rest is meeting space, break out areas, kitchens and support space

11. Technium Springboard Building
25,000 square feet
12,300 square feet of rentable office space
square feet units
1000 square feet of e-pod space
1000 square feet training facility
Rest is meeting space, break out areas, kitchens and support space

12. Research v Reality Demand Variable Year on Year
Local Demand Virtually Zero
Spin Out From Universities Virtually Zero (corrective action being taken)
Wider Catchment Area Most Productive
Number of Overseas Companies Landed

13. Technium Springboard
Has Graduated 25 Businesses into the Local Economy
Created 161 Quality Jobs
1 Business Failure
Convergence Funding of £2m Allocated for Springboard 2

14. Technium Springboard
One Company Arrived from S.E. England and Developed Its Product With Funding Sourced by Springboard. Has Graduated into Premises on the Same Industrial Park and Have Employed 34 People to date

15. Strategic Partnership University of Wales Newport
Torfaen has no University Within its Boundaries but Have Secured the Above
Provide High Quality Incubation Services for the University
Use Technium Springboard to Drive Knowledge Based Incubation
Link is to Support University ‘Entrepreneurship Foundation’

16. Strategic Partnership University of Wales Newport
Provide Work Based Learning Experience at Technium Springboard
Integrate TCBC Staff / Tenants into The University Curriculum via Activities With Students
Provide a High Quality Business Orientated Facility for the Delivery Part Time / Short Entrepreneurship Courses for the Community / Students

17. Skill / Qualification Provision
Entrepreneurship Needs to be Embedded into The Torfaen Community
Torfaen Training to Provide Skills / Qualification to 16 – 19 NEETS
Adult Education Services – Increase Qualification / Skill Levels of Workforce Population
Entrepreneurship in Local Schools

18. Conclusion Large Inward Investment is Rare
Business Incubation Increases Business Stock and Provides Opportunity to Influence Sectors
Skills / Qualifications Essential to Make Strategy Work
‘Grow Your Own’ Works, but Entrepreneurs May not be Local People