£5m investment to boost the growth of South Yorkshire’s tech sector
Innovative tech entrepreneurs across South Yorkshire are set to benefit from a £5.9m project to turbocharge the region’s business support and investment provision.
The TEAM SY project has been set up to connect with existing business support services in the region and to expand, enhance and extend the collective impact of their work.
Start-up experts Capital Enterprise, in partnership with Barnsley Council, will lead on the project working collaboratively with business support providers, universities, co-working spaces and other partners in Sheffield, Barnsley, Rotherham and Doncaster.
Darren Balcombe of Capital Enterprise said: “We are very excited about working with everyone in South Yorkshire to help expand and improve the existing business support and investment ecosystem – and bring new resources and expertise into the mix.”
TEAM SY, which stands for Tech Ecosystem Acceleration and Market-making in South Yorkshire is backed by £3,543,766 from the ERDF England Programme, designed to support economic growth in the regions.
The project will run for three years and aims to help digital and tech businesses explore new ideas and markets, set-up or scale-up their tech companies and create up to 200 high-value jobs in the process. A key objective will be to help entrepreneurs gain financial backing for their enterprises, attracting over £20 million in private investment to the region.
Darren said: “Our mission is to help new and early stage South Yorkshire businesses take best advantage of what support is already available to them and to identify and invest in the regional strengths such as IOT, Advanced manufacturing, Movement technologies and Digital health for example.
“On top of that we want to shine a light on the region so that it becomes renowned as a great place to set up, grow and invest in a successful tech business. We want that beacon to attract entrepreneurs, start-ups and funders from around the world to South Yorkshire.”
TEAM SY leaders will soon be based at Sheffield Technology Parks, on Arundel Street, Sheffield and the DMC 01 hub, on Barnsley’s The Seam digital campus.
Councillor Tim Cheetham, Barnsley Council’s Cabinet Spokesperson for Regeneration and Culture said: “We look forward to welcoming the Capital Enterprise team to South Yorkshire and seeing their energy, enthusiasm and expertise have a significant impact on the region’s digital and tech business community.
“A thriving and innovative tech industry is recognised as a tremendous driver for wider economic growth in an area too as it can help larger employers embrace digital technology, improve productivity and adapt to changing markets and customer demands too.
“The TEAM project is a really fantastic investment in our region’s award-winning tech business support infrastructure at this time.”
South Yorkshire business support ecosystem includes the Y Accelerator led by Sheffield City Region’s Growth Hub working with British Steel and The IoT Tribe project based at Barnsley DMC which has supported 18 innovative businesses to secure investment for accelerated growth. Clusters for digital collaboration and include the world-renowned Advanced Manufacturing Innovation District in Rotherham and the new Government-funded tech hub, Kollider, based at Castle House in Sheffield.