New grant launched to encourage digital businesses to relocate to South Yorkshire

A new grant designed to attract tech businesses to the region, generate more digital jobs and boost the economy has been launched.

The Tech Welcome Grant, funded by South Yorkshire Mayoral Combined Authority, will provide grants of between £5,000 to £10,000 to businesses new to South Yorkshire and start-ups from outside the area to relocate and create jobs in the region.

South Yorkshire’s Mayor Oliver Coppard said: “Thanks to our entrepreneurs, world-class research universities and talent pool, South Yorkshire is not just attracting but creating high-quality tech companies and high-value jobs.

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"Innovation is part of South Yorkshire's DNA and we are going to make sure our region flourishes by working closely with stars of the sector to create an action plan for tech growth in our region. Digital and tech are the lifeblood of our economy; increasingly, every barrier is a digital or technology barrier, so it’s a vital sector for the whole of South Yorkshire.”

Oliver Coppard, mayor of South Yorkshire.Oliver Coppard, mayor of South Yorkshire.
Oliver Coppard, mayor of South Yorkshire.

He added: “The ecosystem we are building here, and the assets we already have in South Yorkshire, will mean those businesses and people who do relocate will thrive here – creating more value for them, the region, and the UK.”

Mr Coppard made the announcement at South Yorkshire’s first Tech Summit in Barnsley, organised by The Seam (Barnsley’s Digital Campus).

The event, which was attended by 188 digital & technology sector specialists and held at Cineworld in Barnsley, was a chance for businesses that work in the tech sector to network and showcase their expertise, build local, national and international relationships and share knowledge.

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The summit focused on the actions needed to ensure the right support, talent, finance, workspaces and culture are in place to help entrepreneurs and innovators from all backgrounds to achieve success.

Gary Stewart, managing director of Techstars NYC powered by J.P. Morgan, who has spent the past 15 years investing in global start-ups, was keynote speaker at the event. He said: “What I’ve learned over the years is that great ideas can come from anyone, anywhere.

"Entrepreneurs are the wealth creators and we need new start-ups to create wealth. Start-ups fail when companies run out of money and the US has a large proportion of venture capitalists willing to invest in early stage companies. Tech start ups therefore need to build bridges to places like London and the US, as the money is concentrated in a few global clusters.”

Mr Stewart also gave his top tips from his many years of working with tech start-ups. This included advising that small markets can offer big opportunities, where a company can gain a niche over competitors.

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He discussed how important it is to get corporate companies involved as they offer big funding opportunities. He also recommended that start-ups should celebrate small wins and encouraged them to build a positive narrative around what they were doing through the press and social media.

The half day summit also featured discussions involving some of the region’s leading Tech entrepreneurs and support organisations, discussing subjects such as building regional ecosystems and why changing the face of tech matters.