Skip to main content

2018 WALES START-UP AWARDS


One of the highlights of my annual calendar is the Wales Start-Up Awards, which took place at the Depot in Cardiff last week.

As we all know, start-ups are increasingly important to the economic development of all nations with research showing that firms less than five years old create the vast majority of net jobs in an economy, are responsible for disruptive innovation across a range of sectors and are the regenerative force in many local communities.

With the private, public and university sectors working more closely than ever to encourage greater entrepreneurship, its importance has recently been recognised in Wales through the establishment of BeTheSpark, a movement that aims to stimulate and engage everyone in the Welsh entrepreneurial ecosystem to drive entrepreneurship across the whole country. 

But much more does need to done to raise the awareness of entrepreneurship across the Welsh economy and I am proud that the Wales Start-Up Awards has helped to do this over the last three years.

Indeed, one of the reasons for enjoying these awards is that they give new Welsh firms the opportunity to showcase their successes and demonstrate their contribution to employment, creativity and innovation in the economy.

But the event itself is also innovative and different as it takes place in a converted warehouse not a hotel banqueting facility, street food and local beer is the fare instead of wine and a three-course meal, and there’s not a dinner jacket or evening dress to be seen on the night.

However, the process leading up to the awards is also what makes it so special.

When I decided to launch the awards with Grapevine Events three years ago, a decision was made to follow the format we pioneered so well with the Cardiff Business Awards, namely to interview in detail all of the shortlisted finalists. 

This is a completely different concept to almost all other awards where the process consists of written submissions, many of which are written by experienced public relations experts which are then examined by a group of judges with a decision being made often without meeting any of the candidates.

Yes, it can take up to three days to conduct the interview process but nothing else captures the commitment, passion and entrepreneurial drive than a face to face discussion on how they started the business, their challenges in building it and why it has become so successful.

As with the previous awards in 2016 and 2017, all members of this year’s judging panel were again blown away by the sheer passion and pride of the shortlisted finalists and what they had achieved in a short space of time.

Indeed, it reminded us of the massive potential we have within the Welsh economy which is being driven by inspiring entrepreneurs who are making a difference both within their local communities and wider afield.

And whilst that is epitomised by all the shortlisted companies, perhaps the best example of that potential made real came from the Wales Start-Up of the Year, Freight Logistics Solutions (FLS)
Established in July 2016, Cwmbran-based FLS is a supply chain management company specialising in the logistics sector which was created with no financial support or outside backing from any source.

With an ambition to reach a turnover of £10 million within the first five years of operation, it is on course to achieve that milestone by the end of its third year of operations. It has also grown from three to twenty staff in its second year, doubling its office space in the process with the hope of doing the same soon to accommodate the additional staff needed for its future plans.

Its ultimate aim is to build to a global service, utilising road, air and rail transportation, that can offer a complete outsourced, embedded client solution to businesses transportation requirements and it is already delivering to thirty two countries across the globe.

Certainly, this is not the last we have heard of Freights Logistics Solutions and I believe they will continue to go from strength to strength in a traditional sector which is more than ready for disruption by an entrepreneurial forward-thinking business.

They, and all the other businesses which have been highlighted this year at the Wales Start-Up Awards are shining examples of what can be done through a combination of entrepreneurial ambition and creating the right environment in which such businesses can thrive.

And by supporting such businesses to grow further over the next few years, Wales can make massive strides towards becoming a successful economy where enterprise is at the heart of wealth and job generation.

Popular posts from this blog

THE CRACHACH

Unlike me, do you consider yourself part of 'the establishment' here in Wales?  As thousands gather for the Eisteddfod in Mold this morning, they will, according to some social commentators, not be participating in the greatest cultural festivals of Europe. Instead, they will merely be bit-part players in one of the annual gatherings of the great and good of Wales.  Unkindly, this set of the movers and shakers in Welsh society is known as 'the crachach' , and constitute a social class all of their own, dominating the educational, cultural and media sectors of Wales and allegedly looking down upon any outsider with new ideas, reinforcing mediocrity and failing to see beyond the limits of their own narrow experience.  They are said to live in a comfort zone that awaits the expected invitation to the next glass of chilled chardonnay and canapés, forgetting that due to their lack of leadership and drive, Wales remains firmly rooted to the bottom of the UK prosperity league ...

THE IMPORTANCE OF THE CREATIVE CLASSES

One of my favourite academic books of the last two decades must be the “Rise of the Creative Classes” by Professor Richard Florida.  This was one of the first detailed studies of the growing group of individuals who use their creativity and mental labour to earn a living and not only included those in arts and entertainment, but also people working in science and technology as well as knowledge-based professions such as healthcare, law, business, and finance.  Fast forward to 2022 and Professor Florida has written an updated report on the creative classes although he and his team now identify a different type of individual who is taking full advantage of the growth in digital platforms, social media, and online marketplaces.  Such ‘creators’ are defined as those who use digital technology to make and publish unique creative content, whether in the form of video, film, art, music, design, text, games, or any other media that audiences can access and respond to.  They ...

THE IMPORTANCE OF FRANCHISING

When we talk about start-ups and entrepreneurship, rarely do we discuss the potential of franchising not only as a way of establishing new ventures in the economy but also as a method of growing existing businesses. According to the British Franchising Association, franchising is the granting of a licence by one person (the franchisor) to another (the franchisee), which entitles the franchisee to own and operate their own business under the brand, systems and proven business model of the franchisor. The franchisee also receives initial training and ongoing support, comprising all the elements necessary to establish a previously untrained person in the business. This enables individuals to start their own businesses without having to develop their own ideas and utilising an existing brand and established market. Of course, whilst each franchise business is owned and operated by the franchisee, the franchisor controls the quality and standards of the way in which the business is...