The University say the building has been designed to drive digital innovation, entrepreneurship, and industry collaboration.
The new space is situated alongside the University’s existing IQ and Y Fforwm buildings. UWTSD say it has already attracted nine businesses to its high-quality working spaces, creating a dynamic cluster with the added benefit of direct access to its expertise and research.
(Image: UWTSD)
Funded through a strategic partnership between UWTSD and the Swansea Bay City Deal, the University say the Innovation Matrix offers a unique opportunity for established businesses and start-ups to accelerate new product development, access specialist technical support, hire graduate talent and create knowledge exchange partnerships with the University.
The building was developed by Kier Construction, which secured £6 million worth of contracts for Wales-based businesses during the construction process.
The launch event was attended by representatives of the Welsh and UK governments, civic leaders, and industry partners.
(Image: UWTSD)
Dame Nia Griffith DBE MP, said: “It’s great that UK Government funding, through the Swansea Bay City Deal, has contributed to building this wonderful facility. Our key mission, as set out in our Plan for Change, is economic growth.
“The Innovation Matrix will provide space for established businesses to grow and new businesses to start up, creating jobs in the high-tech industries of the future.”
Cabinet Secretary for Economy, Energy and Planning, Rebecca Evans, said: “We want Wales to be at the forefront of innovating new technologies that drive meaningful change in society and benefit people in their day-to-day lives.
“This exciting development will nurture a first-class ecosystem for digital innovation and enterprise that can be a catalyst for economic growth and prosperity.
“It is a testament to the excellence partnership working can deliver for regional economies in Wales and is another step forward on our journey to a stronger, fairer, greener future.”
(Image: UWTSD)
Professor Elwen Evans, KC, Vice-Chancellor of UWTSD said: “The opening of this new building marks a significant step in digital innovation, providing a unique opportunity to collaborate, co-locate, and thrive in a high-quality space designed for partnership working. By bringing together industry and education, we are fostering an environment where cutting-edge ideas can develop, talent can flourish, and innovation can drive economic growth.”
Cllr Rob Stewart said: “Swansea has a proud history for innovation and entrepreneurship, but there has been a shortage in recent years of high-quality offices and shared workspace environments to meet the needs of businesspeople and aspiring entrepreneurs.
“Supported by cutting-edge digital connectivity, the Innovation Matrix will complement several other projects in Swansea to help meet that need while also giving access to university expertise and research.
“It will support existing businesses, give start-up businesses an opportunity to thrive and help create jobs for local people.
“The Innovation Matrix will also combine with other developments like the 71/72 Kingsway office scheme to further reinforce Swansea’s reputation as a city of business and investment.”
(Lead image: UWTSD)
