A new investment scheme has been set up to boost the growth of the tech sector in South Yorkshire.
The ‘Tech Ecosystem Acceleration and Market-making in South Yorkshire’ (TEAM SY) project has been established by Capital Enterprise in partnership with Barnsley Council to connect with existing businesses in the region.
It will run for three years and is being funded by £3.5m from the European Regional Development Fund, £2m from Capital Enterprise and £250k from Barnsley Metropolitan Borough Council.
It will be based at Sheffield Technology Parks and the DMC 01 Hub in Barnsley. The project’s aim is to help digital and tech companies set-up or scale-up, creating up to 200 jobs in the process.
“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.
“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.”
Councillor Tim Cheetham, Barnsley Council’s Cabinet Spokesperson for Regeneration and Culture added: “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.”