Twenty-three entrepreneurs have won a place on accelerator programme designed to champion diversity in entrepreneurship in Wales.
The programme will aim to help them overcome the challenges posed by the coronavirus pandemic while championing diversity across the Welsh business start-up landscape.
The business founders beat entrepreneurs from across Wales to secure a place on the Excelerator Programme, which will see people from under-represented groups take part in a Welsh Government-funded 12-week immersive accelerator programme. The aim is to help them launch and grow their business idea or scale an existing business.
The virtual programme will include a series of “expert masterclasses” for founders, as well as mentorship and professional coaching from business start-up and scaleup experts. It is being delivered as part of the Business Wales Accelerated Growth Programme, which is part-funded by the European Regional Development Fund through the Welsh Government.
The programme will look to take entrepreneurs on a step-by-step journey from business idea to paying customers and a sustainable business model. It will also support participants to develop their core business skills and a ‘success mindset’.
Swansea-based Dr Youmna Mouhamad, who has invented a detangling technology for black women with natural hair, said she is looking forward to taking part in the Excelerator Programme.
“I am so honoured to have been chosen to be part of this Programme,” Dr Mouhamad said.
“I know that having a good idea is one thing while turning that idea into a high-growth business is another challenge altogether. I believe that access to experts in this field will really help me take my company to the next level and I can’t wait to start learning and putting my new skills into action.”
Minister for Economy, Transport and North Wales, Ken Skates, said: “I wish to congratulate these business founders for being selected to take part in the inaugural Excelerator Programme. We recognise that women, young people, those from a BAME background and people living with a disability are significantly under-represented when it comes to business start-ups in Wales, and we want to help change that.
“This Programme is part of our £40m investment in delivering on our ‘Covid Commitment’. This funding is there to ensure anyone over 16 in Wales can access advice and support to find work or pursue self-employment. Encouraging and supporting entrepreneurship will a big part of this commitment, so this programme will help entrepreneurs with high-growth potential access the expertise they need to take their companies to the next level.
“This presents a fantastic opportunity for the 23 entrepreneurs taking part, who will receive expert support to develop a sustainable, robust business model. The programme will provide invaluable access to a network of experienced mentors and peers, who will work with them to develop a clear growth plan.”
