TechWM Commits £1 Million Investment to Fuel West Midlands’ Tech Sector Growth

By Anushka Malhotra

1 minute

Investment

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Quick Read: TechWM, the organization driving Birmingham Tech Week and representing the West Midlands tech sector, unveiled plans to invest £1 million over the next year. This significant investment aims to propel the region's tech ecosystem, following reports that regional tech startups are valued at £15.8 billion, having raised £600 million in the past year.

TechWM, the organization driving Birmingham Tech Week and representing the West Midlands tech sector, unveiled plans to invest £1 million over the next year. This significant investment aims to propel the region's tech ecosystem, following reports that regional tech startups are valued at £15.8 billion, having raised £600 million in the past year.

The strategic investment includes:

- A Tech Acceleration Programme to uplift local startups into global-scale businesses.

- An Online Tech Showcase for sector updates, events, and opportunities.

- An Ecosystem Platform offering comprehensive support services.

- Tech Support Hubs fostering collaboration and networking.

- A Digital & Tech Strategy and Special Interest Groups like The AI & Future Tech Forum to educate businesses about advanced technologies.

Andy Street, Mayor of the West Midlands, left, with Yiannis Maos MBE, Chief Executive Officer at TechWM, at the leadership breakfast panel at the launch of Birmingham Tech Week. Photograph: Edwin Ladd/Mr Ladd Media.

The Mayor of the West Midlands, Andy Street, praised TechWM's commitment, emphasizing its importance for economic success, particularly in supporting startups and scale-ups. The forthcoming Digital & Tech strategy will prioritize business support, investment, and digital skills, overseen by the recently formed Tech & Digital Advisory Board.

Janet Coyle CBE, a member of the Board, expressed enthusiasm about the investment's potential for the thriving tech ecosystem, aiming to establish connections and growth opportunities within and beyond the region.

TechWM's CEO, Yiannis Maos MBE, highlighted the transformative growth of the region's tech sector and expressed excitement about the significant investment to supercharge its future, positioning the West Midlands as a global tech hub.

This commitment follows the rebranding of TechWM from Birmingham Tech, reflecting a broader approach to the region's growth strategy. Several key organizations have joined TechWM in its mission, showing strong support for transforming the tech sector.

What's new

Inicio.ai wins £1.35m in One To Win pitch competition

Four months after the competition was announced at London Tech Week, Inicio AI, the home of Budgie AI, a virtual agent that provide consumers with financial support without fear or embarrassment of waiting to speak to a human agent has been picked as the region’s most promising start-up business. Backed by leading investors, stakeholders, and key tech players, the pitch competition demonstrates the belief in the region’s ability to become a global tech superpower and shines a light on the region’s vibrant and thriving tech sector on the national stage.

Inicio.ai was part of a shortlist of three West Midlands based startups including ChangeMaker3D, a 3D concrete printing company aiming to reduce carbon emissions and material costs; Skyfarer, a startup focusing on revolutionising the use of drones, particularly for medical uses.

The four finalists pitched on Wednesday 23 October to a panel of judges including Steve Rigby, CEO of Rigby Group plc; Yiannis Maos MBE, CEO of TechWM; Fred Soneya, Co-founder and General Partner at Haatch; Charlie Weavers-Wright, B2B SaaS Investor at Haatch; Hephzi Pemberton, Founder and Chair of Equality Group; and, Rupert Lyle, Fund Principal at West Midlands Co-Investment Fund. Together, this panel were looking out for the West Midlands business that’s demonstrating game-changing innovation and is on track to further impressive growth.

The initiative is also set to support those from the region who didn’t meet the entry criteria, offering alternative support: including opportunities for trade missions; investor connections; access to mentors and workshops; guidance on accelerators and incubators; and links to corporate innovation programmes.

Yiannis Maos MBE, Founder, Birmingham Tech Week and CEO TechWM commented:

“The One to Win competition is a testament to our ongoing efforts to nurture, support and promote the thriving tech ecosystem in the West Midlands. We firmly believe that our region is a hidden gem in the global tech landscape, and we’ve been working tirelessly to showcase its immense potential.
“Innovative initiatives like One to Win provide invaluable platforms for local startups to shine. Thanks to the generous support of our stakeholders, partners, and sponsors, we’re able to offer the winner a life-changing opportunity to receive the UK’s largest pitch competition prize.
“This win is not only a significant milestone for the winner but also a testament to the region’s growing reputation as a hub for tech innovation.”

Steve Rigby added:

“Congratulations to the winner on their well-deserved success, I look forward to following their progress. I also wish the very best to the other finalists, who I am sure will achieve great things. One to Win has shown that the West Midlands is home to some great entrepreneurial tech talent and I hope that this fantastic competition will create some momentum to encourage other entrepreneurs and investors to find success in our region.”

By Molly Matthews

25 Oct