M-SParc awards £60,000 to innovative local businesses

The success of a north Wales Science Park has translated into funding for innovative local businesses with £60,000 awarded to 15 companies to support them to innovate, develop and create employment opportunities in the Science and Technology sectors.

The funding will see three new businesses establishing in the region, seven having support to grow and create jobs and five developing new research projects. All applicants will also benefit from ongoing business support from M-SParc and partners.

M-SParc by Bangor University launched its ‘Funding for Success’ grant scheme in July following a successful year despite the challenges of Covid-19. M-SParc is committed to turning profits into benefits, and offered three different funding pots to support ventures in the low carbon, energy, environment, digital and life science sectors.

The three funding pots available were:
  • Take-off - for start-ups looking for funding to develop a new venture.
  • Scale Up - for M-SParc tenants looking for extra funding support.
  • Innovate - for research projects hoping to commercialise their outcome.

One of the new businesses supported are Intaglio-Optics - one of three companies benefitting from the Take-off grant - which they’ll use to develop innovative technologies and solutions for anti-counterfeit and document authentication.

Speaking following the success of securing grant funding, John Allsop of Intaglio-Optics said:

“The ‘Take-Off’ grant awarded to Intaglio Optics will help us to fund product development of our unique and industry-leading security authentication technology.

“The engagement and support we have received from M-SParc in launching our new venture has been outstanding.”

Sea2Soil were another new and local business successful in securing funding, who will use the investment to undertake research into the development of an affordable and environmentally friendly seaweed-based source of fertiliser and soil for the promotion of organically grown crops, reducing carbon emission in the process.

Successful in securing funding from the Scale-up grants, digital marketing agency Pro Pixels recently celebrated their first birthday as a business based in M-SParc. Founder Connah Evans, from Menai Bridge, plans to use the funding to continue to grow their business at a rapid rate, with future plans to train and encourage local young people to take up careers in digital media.

Menai Science Park Managing Director Pryderi ap Rhisiart said:

“It’s fantastic to see the success we’ve had over the past year enabling us to support new and established innovative businesses in this way, offering a £60,000 grant funding pot to companies with exciting new ideas to develop their business further, creating further career opportunities in the region.

“We’re very proud of the way M-SParc has supported so many companies in the region since opening our doors in 2018. Being in a position to launch our Funding for Success Grant Programme is a significant milestone and we’re excited to see what the successful applicants can do with the funding they’ve secured over the coming months.”

Business Support and Project Development Officer at Menai Science Park, Lois Bevan Shaw, added:

“It was a very difficult decision to choose between so many excellent applicants, but it was equally inspiring to see the range of ideas pitched for brand-new business ventures, as well as the exciting ideas for growth that many established companies also pitched for funding for, too.

“All of the applicants, whether they were successful in securing funding or not, will benefit from ongoing business support from the team here at M-SParc and our partners moving forward, and we’re excited to see how all of these businesses grow and develop in the future.”

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