Eligibility Criteria

Technium has set out several criteria for occupancy which are used as a guideline for suitable company selection. These are:-

to be innovative, high growth potential companies
The Technium environment is intended to assist innovative companies to grow quickly. It is anticipated that companies will reside in Technium for 2-3 years, by which time they will have expanded and will be ready to graduate.

to be based in a High-Tech or Knowledge-Based sector
Wales is encouraging the creation and development of companies within the High Technology/Knowledge based sectors. The Technium network is part of this strategy and is focussed upon companies within these sectors.

to be exploiting IPR
High Tech/Knowledge based companies will usually be exploiting their own or licensed Intellectual Property.

to be engaged in Research & Development
Technium companies will typically be involved in R&D activities involving new products, processes and new technologies. Technium is unlikely to house companies who are engaged in purely training or consultancy activities.

to already have, or wish to develop, academic links
Technium is a partnership closely linked with University departments and particularly, the Welsh Assembly Government's Centres of Excellence in Technology and Industrial Collaboration. It is anticipated that many Technium companies will have, or will develop, fruitful links with academia.

to have in place a capable Management Team
The management team should be balanced to address the financial / business side of the company as well as having the technological expertise required.

to have developed a good knowledge of the appropriate Market
It is expected that a level of market research will have been undertaken relevant to the product / process / technology under development.

to have a sustainable financial status
Accounts and cash flow projections should be available that describe the sources of finance and / or revenue in place or expected, and indicate the sustainability and growth aspirations of the company during its residency in Technium.

to have considered their specific requirements for residency in Technium
Technium is more than just office space, providing a high level of facilities, business and technology support to its companies. Applicant companies should describe those elements of Technium support they will require during their period of residency.

to have considered the period they wish to remain within the Technium environment
Technium companies should have considered an exit strategy from the Technium environment, particularly developing a good understanding of what will constitute success for them.

to have an established and credible Business/Marketing Plan
The business Plan should be comprehensive and address all the points listed above.