The winner of the Technium Challenge 2010 will receive free office space for a year within one of Wales' twelve specialist business incubation centres, known as the Technium Network as well as a £30,000 business support package funded by the Welsh Assembly Government and European Union.
Businesses within the aerospace sector are being urged to enter the competition, which is open to technology or knowledge-based early stage businesses (maximum two years trading) that can demonstrate a patentable idea within a strong R&D element.
Over 180 aerospace companies are now based in Wales, employing in excess of 20,000 people. British Airway's base at Rhoose in the Vale of Glamorgan, for example, is the world's only licensed dual bay facility capable of maintaining and overhauling Boeing 747, 767 and 777 aircraft.
Companies interested in the Technium Challenge need to submit an application form before April 1st, 2010; those who qualify will then receive help in developing a business plan to be submitted by April 29, 2010. The winner and runners-up will be announced at the Technium Awards Ceremony to be held in Wales on June 24, 2010.
www.technium.co.uk/challenge
