WELSH INNOVATION OFFICE TO OPEN IN SILICON VALLEY

In a move that will propel innovative Welsh companies into the heart of the American venture capital market, the University of Wales has opened an office in San-Jose, the self-proclaimed ‘capital of Silicon Valley’.

The Irish Innovation Centre (IIC), a launch-pad organisation for Irish start-up businesses in Silicon Valley, has invited the University of Wales to base itself within their company in a nod to a shared Celtic heritage and entrepreneurial spirit.

Together with its affiliate organisation, the Irish Technology Leadership Group (ITLG), the Centre offers a wealth of resources to technology companies making the difficult transition across the Atlantic, including office space, legal and administrative help, conference facilities, and media/PR support.

The support network of the IIC, coupled with its location in Silicon Valley, will present a goldmine of opportunity for Welsh companies wishing to penetrate the US market. The establishment of a Welsh entrepreneurial base in the area could potentially make the US a far less hostile or risky area for Welsh investors and businessman, serving the dual purpose of diversifying and stimulating the Welsh economy.

When Professor Dylan Jones-Evans, Director of Enterprise and Innovation of the University of Wales, first heard about the IIC, he was very impressed by its concept and thought that Wales ought to have its own equivalent, which is exactly what he has set about to establish. Professor Jones-Evans said:

“It will be an office for Wales, for Welsh business and for high-technology firms that want to have a presence in Silicon Valley. Our aim is for Wales to have a foothold in the area through working closely with the Irish Innovation Centre to help a few companies to come over there and see how it works. If we are successful, then there may be the possibility of replicating the concept for Welsh companies.”

Essentially the role of the University of Wales will be to provide an office-space for Welsh companies who feel ready to present their innovation technology to potential investors in Silicon Valley, taking advantage of the soft-landing that the IIC provides to companies already based there. Professor Jones-Evans is quick to acknowledge the important role of organisations like the IIC in promoting innovation.

“It is absolutely critical to have contacts within Silicon Valley because many companies won’t have experience of the environment which makes up this innovation hotspot or, more importantly, the networks that you need to access to get anywhere in such an innovation ecosystem” he added.

John Hartnett, founder of the IIC and chief executive of the ITLG, welcomed the decision by the University of Wales to locate an office in Silicon Valley:

"Connecting Welsh technology companies to Silicon Valley is crucial to accelerate Welsh innovation. Silicon Valley is home to the world’s largest technology companies as well as the number one location for VC funding where more than 40% of all US VC Investment is transacted - Wales is now part of this with the Initiative of University of Wales locating a foothold in downtown San Jose.”

Sir Terry Matthews, Newport-born serial hi-tech entrepreneur, said:

"San Jose and the remainder of Silicon Valley continue as a major concentration of high technology companies and venture capitalists. The new Welsh Innovation Office will be a significant benefit to any new company looking to enter the market for sales opportunities or access to sources of capital. I congratulate the team on this initiative"

Phil Cooper, Managing Director at Venture Wales, a business support organization, said:

“Congratulations to the University of Wales as this initiative provides an excellent resource for Welsh firms who are considering their entry strategy into the richest market in the world. The technology cluster approach enhances competitiveness of Welsh firms through the development of a competent industry network backed by a range of local US support services which can facilitate the internationalization process. It also serves to raise the bar by requiring more Welsh firms to become internationally competitive. I wish it every success.”

Email the Global Academy (global.academy@wales.ac.uk) for more information about opportunities for Welsh businesses 

EXPERIENCING THE JASMINE REVOLUTION

Western Mail article June 4th 2011

Last week, I was in Tunisia for the OECD, the global economic development body.

The aim of the mission was to support the development of enterprise education within Tunisian universities in order to help more young people to develop their enterprise and employment opportunities.

It was a fascinating couple of days not only to experience the dedication and passion of the participating academics but because, only five months ago, Tunisia started a revolution that has since swept through the whole of the Arab world.

For many of us living in the UK, this small North African nation that is located between Libya and Algeria is seen predominantly as a Mediterranean holiday destination.

Yet the country has a rich and varied history encompassing the great empire of Carthage whose most famous general, Hannibal, nearly defeated the might of the Roman Empire. Indeed, even when the Carthaginians were eventually conquered following the third Punic War, their country became of enormous strategic importance, earning the sobriquet of the "bread basket of Rome". The importance of food production continues even today, with farming accounting for eleven per cent of a local economy that is amongst the most developed in Africa.

Since the end of Roman rule, Tunisia has been subject to the rule of a series of empires, changing hands as the tides of history ebbed and flowed over the centuries until, in the 1950s, the country managed to wrest control from the French Government which was vesting itself of its colonies and protectorates in North Africa.

For thirty years, Tunisia flourished under the leadership of its first President, Habib Bourguiba. However, any sense of nationhood that had been developed quickly disappeared when he was deposed by Zine el Abidene Ben Ali in 1987 in a bloodless coup that led to growing corruption for the next two decades with the only beneficiaries being supporters and friends of the ruling family.

That is until November 2010 when the actions of one young man changed the entire geopolitical environment across North Africa and the rest of the Arab World.

When government officials closed down his business, 26 year old Mohamed Bouazizi decided that a stand had to be made. It was an extreme and desperate one - pouring petrol over himself before setting himself alight in protest at the way he had been treated by the police and government officials.

When he died of his burns a few weeks later, it sparked the so-called “Jasmine revolution” that not only brought down the Tunisian dictator Ben Ali, who fled to Saudi Arabia, but began a domino effect that quickly spread to other Arab countries including Egypt, Libya and Syria.

During my short visit, I had the opportunity to speak to a number of ordinary Tunisians about the current situation. The revolution had, they said, brought a new vibrancy and urgency to the nation, ushering in an era where people were united in ensuring that the new democracy succeeded and that deep-rooted problems such as unemployment and low living standards could finally be addressed. And yet concerns were also voiced that the old regime could reassert itself at any time, especially if the rest of the World did not support the new interim government.

Therefore, the news last week that both Egypt and Tunisia will be offered around $20 billion in loans by G8 is both welcome and timely and should be followed by further support from funders such as the World Bank and the European Investment Bank.

In fact, the way ordinary Tunisians expressed their hopes and fears was a revelation to someone who, like in the UK, takes their democratic rights for granted. Of course, the real test will be in the Autumn, when the country votes in a general election that will determine the fate of this North African nation.

Certainly, everyone I spoke to during my short visit looked forward eagerly to exercising their right to vote and to then moving quickly to developing a new Tunisia that could, with the right support from the EU, the World Bank and other bodies, become a model for democracy across the rest of the Arab World. I can only hope that when I return at the end of this year, their dream - and that of millions of ordinary Tunisians - will finally have been realised.