Plymouth and South Devon (PASD) Freeport are proud to sponsor and support the newest track as part Tech South West’s hugely popular Growth Forge programme, the Marine Tech accelerator. Designed specifically for South West marine tech businesses, the specialist track will provide ambitious scale ups in the sector with the support they need to accelerate their growth plans.
The Marine Tech accelerator will serve as a catalyst for collaboration, connecting fast growing marine tech businesses with industry experts, investors, and invaluable resources. With the marine sector as one of PASD Freeport’s focus sectors (alongside defence, space, advanced manufacturing, engineering and clean tech) this pilot initiative aligns with the Freeport’s mission of supporting sustainable growth and innovation in the region.
Eifion Jones, Business Growth and Investment Director, PASD Freeport:
“We are excited to partner with Tech South West in launching this accelerator. The marine tech sector is vital to the South West, and wider UK economy, so we’re doing all we can to support innovative businesses in this rapidly evolving industry.
This includes not only sponsoring this particular initiative but also highlighting the opportunities available as part of the wider PASD Freeport offer which includes land and property and tax benefits and incentives for new and high growth businesses. Eligible businesses, can for example take advantage of zero Employer’s National Insurance for three years [up to £25k salary] and zero business rates for five years which may present significant savings and cash flow benefits.”
Plymouth and South Devon Freeport presents a unique proposition for investment, development and doing business in the South West. With a focus on high growth sectors including marine autonomy, defence and clean energy, PASD Freeport supports eligible businesses that are accelerating technologies and pioneering new solutions within these fields. As part of its wider ecosystem the Freeport can help facilitate access to state-of-the-art innovation assets and facilities including 1000 sqkm highly monitored water for testing/development of new marine tech, bespoke skills support and globally recognised businesses.
Eligible businesses can explore the range of flexible premises and opportunities across the Freeport’s three tax sites and take advantage of preferential tax and customs incentives and benefits providing they locate in the Freeport by September 2031, these include zero Employer’s NI for 3 years up to £25k and zero business rates for 5 years.
Tech South West’s Growth Forge Marine Tech accelerator will include bespoke support from the PASD Freeport team and other industry partners. The programme features three Growth Days – immersive in-person sessions with growth experts and coaches to help businesses tackle their growth challenges, and provide specific expertise and insight. Businesses on the track will also have the opportunity to meet investors with a remit and interest in investable marine opportunities and be part of a dedicated peer group.
The Tech South West Growth Forge Marine Tech Accelerator track is open to any marine tech business in the South West, from startups to established businesses and is open for registration now https://www.techsouthwest.co.uk/growth-forge/marinetech/
Tech South West will be holding an online briefing session about the Growth Forge programme on Wednesday 29th January from 9.30am until 10.15am – businesses interested in finding out more are encouraged to register for the webinar here.