Here we feature a selection of great Welsh start-ups, defined as trading for less than five years. While some have the potential to scale-up to become mid-sized ventures, all highlight that the spirit of entrepreneurship is very much alive and kicking in Wales.
We Make Footballers
Leon Stapleton is behind the first Welsh franchise of We Make Footballers, a footballing training academy for children aged 4-12, which has been supported with a British Business Bank Start Up Loan.
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A former secondary school teacher, he spent over 10 years teaching maths and science, but after becoming disillusioned with life in the classroom, he decided to leave teaching and launch We Make Footballers in Cardiff, a career move which allows him to combine his love of teaching with his lifelong passion for football.
Equicantis
Wrexham-based Equicantis, which has has developed a rehabilitation system for animal physical therapists, was launched by Laura Clinton, an equine musculoskeletal therapist.
It works with animal physical therapists in the equine and canine sectors, such as physiotherapists, massage therapists, bodyworkers, osteopaths, chiropractors, musculoskeletal therapists and rehab specialists.
The company operates via a cloud-based web application that allows animal physical therapists to manage their businesses and also create bespoke, professional exercise plans for their clients using Equicantis’ library of over 300 equine and canine exercises.
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Finalrentals
Finalrentals is a global car rentals industry disrupter which has achieved substantial growth since its founder and chief executive Ammar Akhtar arrived in the 海角视频 two years ago
Its online platform connects customers with local car rental companies across the world.
The Cardiff-based venture has grown its annual revenue by 500% and is targeting a gross revenue of £10m in the next fiscal year, fuelled by its growth into new territories. Its platform is available for users in 34 countries, including Costa Rica, Greece, Mexico, Portugal, Saint Lucia, the United Arab Emirates, and the United States of America.
New countries are being added nearly every week with recent new additions including Saudi Arabia, Turkey, and Montenegro.
Eko Bakery
A craving for the home flavours of sweet Nigerian Eko bread was the catalyst for Adekunle Ashaolu to open his bakery in Newport.
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Eko Bakery produces fresh Eko, or Agidi, bread, a popular breakfast meal in Nigeria. Lagos-born Adekunle moved to London to study accountancy 15 years ago and was thrilled to find his favourite bread was sold there.
Adekunle then relocated to Newport and realised there was untapped demand for Eko bread in the city's growing African community.
Six years later Adekunle has now realised his bakery business dream and employs seven people.
Barefoot Tech
Set up by designer Ffion McCormick Edwards, Swansea-based Barefoot Tech is making waves with its sustainable fashion label.
Hailing from a family of avid water-skiers, Ffion launched her business to try and reduce the impact of pollution on the seas. She creates products using reclaimed neoprene wetsuit materials, which she sources from surf schools, wake parks and outdoor activity centres around Wales.
The material from the wetsuits, some of which were originally made in the 1980s, are then turned into Barefoot Tech accessories including backpacks, notebooks and purses.
Mallows Beauty
Llantrisant-based vegan beauty brand Mallows Beauty is experiencing rapid growth, fuelled by domestic and international expansion.
The business, which was set up Laura Mallows in 2021, has a growing product range that shave butter, body scrubs, hair care, skin care and razors. It recently launched in 550 Superdrug stores throughout the 海角视频 and preparing to expand in to lucrative US marketplace following a six-figure equity investment from the Development Bank of Wales.
The fast growth business now employs 25 and is achieving run-rate revenue of over £5m in 2023/24 with a three-year compound annual growth rate (CAGR) of over 100%.
Snowdon Timber Products
Start-up and Bangor-based Snowdon Timber Products are already eyeing up expansion into Europe after experiencing significant growth during the past year with the support of a £100,000 finance package from the Investment Fund for Wales.
Last year the company was accepted to sell on B&Q Marketplace. The resulting boost in sales meant that in the first half of this year, it has exceeded full revenues for 2023.
Snowdon Timber Products is now eyeing the European marketplace, an ambition that has been made possible by Investment Fund for Wales (IFW) funding which was facilitated by BCRS Business Loans, one of three fund managers for the £130m IFW.
Green Up Farm
Green Up Farm was launched by entrepreneurs Toni and Alex Borella in 2021. The pair grow micro greens and micro herbs, known for their superfood qualities.
The couple previously lived in London, working in sales and tech marketing roles, but turned their back on city life to move to rural Pembrokeshire to launch the business.
Today Green Up Farm grows plant varieties including sunflower, rose radish, pea shoot tendril and an array of micro herbs. An £8,000 Start Up Loan enabled them to invest in environmentally sound and hygienic packaging trays for their microgreens that they grow at their 100 square metre unit.
Melin Llynon
Richard Holt, former head pastry chef in London for the well-known Michelin-starred chef and restaurateur Marcus Wareing, returned to his homeland of Ynys Môn in 2019 to take over the Melin Llynon mill from the local authority, with an ambition to bring his skills as a pâtissier to help revive this iconic landmark.
Since then, and following an extensive renovation project, the 31-year-old entrepreneur has been successful in several endeavours, from the creation of a chocolate factory, to the launch of his sell-out Ynys Môn doughnuts, ‘Mônuts’, and the opening of a high-end tearoom at the mill.
Next up, Richard hopes to eventually grow his own grain and mill it into flour on site.
Mama Glam
Former HGV driver and first-time mum Katie Jones from Ammanford has taken her passion for the benefits of breastfeeding.
She launched Mama Glam, a fashion business offering comfortable and practical clothing for fashion-conscious breast feeding new mums.
Her debut range features branded hoodies, sweatshirts, T-shirts and dresses that feature discreet, easily accessible zips and are available to order online.
FleetEV
Founded in 2021 by entrepreneur Jarrad Morris, FleetEV is supporting the transition to electric vehicles (EVs) in the public and private sectors, as well as for individual consumers.
It offers a wide range of electric vehicle products and services, including leasing, salary sacrifice schemes, charging infrastructure installations and innovative technology that supports fleet managers.
The Cardiff-based firm employs 18 staff with a growing client base across the 海角视频. It was recently named on the Welsh Government’s new collaborative procurement framework to provide EV vehicles to the public sector.
Lovetovisit
Cardiff-based Lovetovisit is an innovative travel platform provider experiencing significant growth. Founded in 2021 by twin sisters Georgia and Alice Aubrey alongside tourism and culture expert Fed Pereira, the company helps people find and book local attractions, experiences and events.
To support its growth plans, earlier this year it raised £3.2m to support its scale-up plans. The team is aiming to double growth and inventory year-on-year for the next three years.
The investment will also be used to enhance the platform’s AI capabilities to further optimise the user experience and to scale operations internationally. Since launching it has generated total revenues of £7.4m and supported hundreds of thousands of experiences.
Menna
Cardiff fintech start-up Menna.ai has developed a generative AI powered platform to help small firms make smarter financial decisions. To support its commercialisation it recently secured a £500,000 investment.
Founded in August last year by Nick Carlton and Dan Mines, Menna helps small business owners to make better financial decisions by combining generative AI with rich real-time data. Mr Carlton was previously chief product officer for Confused.com and blockchain protection venture Coincover, while Mr Mines was chief information officer for Admiral Money and chief product officer for European open banking platform Yolt.
The firm’s Menna.ai platform offers real-time transaction alerts, forecasts, insights, smart recommendations savings and funding offers.
PlantSea
St Asaph biotech start-up PlantSea is turning the tide on plastic pollution.
Using sustainably sourced seaweed from Scotland, it has developed bio-refining technology to produce a ground-breaking water-soluble seaweed-based flexible film that holds both liquids and dry products such as laundry detergents.
To mimics the key characteristics of plastic yet is fully biodegradable. The was founded in 2020 by Rhiannon Rees, Dr Alex Newnes and Dr Gianmarco Sanfratello.
To support its expansion it recently boost secured a £800,000 plus equity round. The funding will accelerate product development with key multinational customers in the laundry and cleaning sectors. PlantSea’s product portfolio also includes biodegradable mulch film and seaweed-infused paper.
Ty Green
Architect and self-confessed eco-warrior Spence Gadsby recently launched eco-hut business, Ty Green, which is creating sustainable spaces crafted from locally sourced natural materials.
After qualifying as an architect three years ago, Spence completed a course at the world-renowned Centre for Alternative Technology in mid-Wales. From is business near Newport he now hand builds shepherd huts, office pods and garden rooms to provide long-lasting, alternative spaces.
Through careful research, Spence has also been able to make sure all materials are natural and locally sourced, using 海角视频 grown cedar cladding supplied by Newport-based Mon Timbre, Welsh sheep wool supplied by Brecon-based Ty-Mawr for insulation, and the windows and doors are made in Newport by local companies Timbek and Evaframe.