Eligibility Criteria
Technium Challenge competition is particularly suitable for young companies and/or spin-outs from existing companies requiring a high level of support to realise their aspirations for international expansion.
Eligibility criteria will be based on the following:-
• innovative, high growth potential companies
The Technium environment is intended to assist innovative companies to grow quickly. It is anticipated that companies will be in a Technium for 3-5 years, during which time they will have expanded and be ready to move into a larger unit.
• based in a technology-led or knowledge-based sector
Wales is encouraging the creation and development of companies within the technology-led/ knowledge-based sectors. The business concept must be original, or a significant improvement on existing products, processes or services.
• exploiting IPR
Technology-led / knowledge-based companies will usually be exploiting their own or licensed Intellectual Property.
• engaged in exploiting emerging new technology ideas
Your business idea will typically be involved in R&D activities involving new products, processes and technologies.
• already have, or wish to develop, Technium links
Technium is a partnership closely linked with University departments and particularly, the Welsh Assembly Government’s Centres of Excellence in Technology and Industrial Collaboration. It is anticipated that most entrants will wish to develop fruitful links with such academic and industry centres.
• have in place or developing a capable management team
The management team should be balanced to address the financial / business needs of the company as well as having the technological and entrepreneurial expertise required.
