Funding boost for Wales’ thriving creative technologies sector

The Welsh Government has secured £900,000 of EU funding to turn an old Aberystwyth building into a modern creative technologies hub.

Last week, Finance Secretary Mark Drakeford announced plans to refurbish part of the Old College university building and convert it into state-of-the-art seafront business units.

Over the next few years, the Aberystwyth University-led project will receive £1.4 million of investment and create 12 modern workplaces for the Welsh creative technologies sector.

These hubs will not only encourage sustainability in SMEs and help the industry to thrive, but will provide entrepreneurial graduates and post-graduates from Aberystwyth University with affordable business premises.

Mr Drakeford said: “This is another positive example of how the Welsh Government is using EU funds to support new industries to develop and thrive, resulting in new jobs, products and services.”

Aberystwyth University confirmed that the funding for the South Seddon building is part of a wider modernisation effort and that more details will be announced shortly.

Professor Elizabeth Treasure, vice chancellor of Aberystwyth University, said: “Economic regeneration is a key element of our plans to redevelop Old College.

“The new business units in South Seddon will lead to the creation of high-quality jobs and product innovation and we are grateful to the Welsh Government and the Welsh European Funding Office for their valued support.”