£5.9million investment to grow South Yorkshire tech sector
A new investment scheme has been set up to boost the growth of the tech sector in South Yorkshire.
TEAM SY has been established by Capital Enterprise in partnership with Barnsley Council to connect with existing businesses in the region.
“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,” said Darren Balcombe of Capital Enterprise.
TEAM SY stands for “Tech Ecosystem Acceleration and Market-making in South Yorkshire.” It will run for 3 years and is being funded by £3.5m from the European Regional Development Fund, £2m from Capital Enterprise and £250k from BMBC.
The aim is to help digital and tech companies to explore new ideas and markets, set-up or scale-up their tech companies and create up to 200 high-value jobs in the process.
“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,” continued Balcombe.
“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.”
The operation will be based at Sheffield Technology Parks and the DMC 01 Hub in Barnsley.
“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,” stated Councillor Tim Cheetham, Barnsley Council’s Cabinet Spokesperson for Regeneration and Culture.
“The TEAM project is a really fantastic investment in our region’s award-winning tech business support infrastructure at this time.”