Posted on: Thursday 27 March 2025
A centre aimed at supporting high growth science and technology businesses has welcomed 11 new tenants.
Occupancy rates at Springboard Business Innovation Centre have nearly doubled over the past two years from 14 tenants in 2023 to 25 in 2025, following investment from the UK Shared Prosperity Fund.
Around £600,000 has been used to update and expand facilities at the centre, in Cwmbran, and offer six-month set up grants and ongoing in-house business support.
Amotio Health moved into one of the centre’s new laboratories, in October, after looking at a range of other locations.
The company, which is developing a new orthopaedic device to improve hip replacement revision surgery, employs four people and expects to double its number of employees over the next year.
Founder Iestyn Foster, from Pontypool, said: “We evaluated the feasibility of multiple locations across Europe, but South Wales emerged as a leading hub for medical technology innovation, creating the conditions to support innovation and accelerate high-quality product development.
"Its proximity to the M4 was a key advantage, and the accessible green spaces contribute to a positive and well-being-focused work environment."
As well as the businesses based at Springboard and another 10 use the centre as their registered address. The centre also has a Spring Hub co-working area with 18 desks. Spaces cost from £15 per day and include use of meeting rooms, tea, coffee and wifi.
A new Spring Online mentorship programme, also funded by the UK Shared Prosperity Fund, is available to all businesses based in Torfaen.
A website has been developed which has connected 85 businesses looking for support with 32 mentors. Plans for an app are also being developed.
Cllr Joanne Gauden, Executive Member for Skills and Regeneration, said: “We’re committed to making Torfaen a great place to do business and the Springboard centre is a great example of how bringing businesses together can provide mutual support and opportunities for development.
“Whether that’s businesses offering new services to our local communities or developing cutting edge innovative products.”
For more information about business support opportunities at Springboard, contact Gaynor.wakeling@torfaen.gov.uk
(Photo L-R: Gaynor Wakeling, Iestyn Foster, Cllr Joanne Gauden)