Ninee years ago I launched the Wales Start Up Awards to address a gap in how we recognise and celebrate the role of entrepreneurs in driving economic development.
While initiatives such as the Wales Fast Growth 50 had long championed the success of scale-up firms, there was little focus on those individuals who had spotted opportunities, taken considerable risks, and were already contributing to employment, innovation, and regional vitality.
Such early-stage ventures are often formed in spare rooms, co-working spaces, or small industrial units and yet their impact can be profound.
Despite limited resources, they create jobs, develop new products and services, and revitalise local economies and the Wales Start-Up Awards were established to provide long-overdue recognition for these individuals and their achievements.
Over time, this initiative revealed a wider need for national appreciation of early-stage business excellence. Given there were no other similar awards taking place in other nations and regions, I decided to set up the 海角视频 StartUp Awards to reflect and support entrepreneurial activity across all parts of the country and since launching them four years ago, interest and participation have been remarkable with more than 2,000 applications received each year which highlight the scale of entrepreneurial ambition in the 海角视频 today.
Next month, we begin our annual roadshow of awards across ten nations and regions of the 海角视频, where 750 regional finalists will compete to be the best in their sector.
From Belfast to Birmingham, Edinburgh to Cardiff, and Manchester to London, all the regional winners will progress to the 海角视频 Start Up Awards final, which will be held at Ideas Fest in September, an event increasingly recognised as the “Glastonbury for business” due to its informal and innovative approach to connecting entrepreneurs, investors, and thought leaders.
So why set up these awards? The rationale for creating a dedicated 海角视频 awards programme was clear, given that start-ups are a key engine of economic growth and innovation.
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For example, research from the Kauffman Foundation in the United States demonstrated that start-ups are responsible for virtually all net new job creation over the past three decades. In towns and cities across the 海角视频, start-ups are breathing new life into high streets, industrial estates, and digital hubs, proving that employment growth doesn’t just come from big businesses.
But the real power of start-ups lies in their ability to innovate. Unlike larger firms, they move fast, solve real problems, and challenge outdated ways of doing things.
Whether it’s transforming how we bank, decarbonising our homes, or rethinking how we shop and eat, every year the awards identify those new firms that are at the heart of every major sectoral shift.
And while they’re often seen through the lens of wealth creation, their social value shouldn’t be overlooked.
Start-ups connect people by bringing founders, teams, investors, and communities together with a shared sense of purpose and in doing so, they help build stronger and more cohesive places, something every town and city in this country could benefit from during this economic downturn.
Indeed, the growth of start-ups reflects shifting attitudes toward employment, autonomy, and innovation and every year, we see applicants to the awards motivated not just by profit but by a desire to solve problems, serve communities, and build something meaningful.
The economic impact of new firms has not been lost on politicians and policymakers with support for early-stage businesses expanding significantly over the last decade and a half.
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Government schemes such as the Start-Up Loans programme and tax incentives like the Enterprise Investment Scheme have made a substantial difference in providing financial support and structured mentoring to new ventures.
At the same time, private sector involvement in start-up development has grown rapidly and financial institutions, large corporates, and retail brands have all recognised the value of partnering with or investing in innovative early-stage firms.
In particular, banks have played a key role in supporting start-ups with NatWest offering mentoring, space, and support through its free Accelerator programme, and Barclays helping tech entrepreneurs scale through access to workspace, funding opportunities, and industry expertise via its Eagle Labs network.
The infrastructure for entrepreneurship has also matured as incubators, accelerators, and co-working spaces offer environments in which start-ups can grow and thrive, providing not just office space, but a community of peers, mentors, and potential collaborators.
For example, Welsh-headquartered Town Square has established co-working spaces across the 海角视频 to support new entrepreneurs by providing flexible work environments and comprehensive business support and its initiatives, such as the Startup Club and accelerator programmes, aim to foster local enterprise and community-driven growth.
The 海角视频 Start Up Awards are intended to reflect this vibrant and evolving ecosystem as they recognise not only the founders who are starting businesses but also the networks and institutions that have supported them on their journey. More importantly, they provide visibility to entrepreneurial activity in regions too often overlooked in national economic discourse.
Every year, the awards show that entrepreneurship is being pursued by a wide cross-section of society namely women, young people, individuals from ethnic minority backgrounds, and even those returning to the workforce later in life. Indeed, most of the 海角视频 winners last year were female founders, demonstrating that broadening the entrepreneurial base is not only socially positive but economically vital.
Therefore, the 海角视频 Start Up Awards serve a broader purpose than recognition alone, contributing to shaping the narrative around entrepreneurship in the 海角视频 and highlighting the importance of early-stage ventures to economic renewal and innovation
. Most importantly, at a time of considerable economic uncertainty, they show that we continue to celebrate and support those founders who truly make a difference to the economy.