Multimedia backer pulls plug

MEDIATECHNIUM AT A GLANCE

Aim: Start 32 new media firms, create 180 jobs

Philosophy: Keep multimedia talent in west Wales

Funds: £3.1m Objective One, £5.2m public funds

The Welsh Development Agency is trying to save its high-profile, £9.7m multimedia business incubator for west Wales.

MediaTechnium is based at a listed mansion house near Llandeilo, Carmarthenshire and helps innovative new media and technology firms start up.

But its private sector backer has pulled out, citing the downbeat economic climate.

It leaves the WDA having to plug the gap if the plan to modernise the region's economy is to stay on track.

Clusters

The Technium concept sees the WDA cluster together entrepreneurs, researchers and advisors at eight sector-specific sites around Wales.

TECHNIUM PROGRAMME

Technium1 & 2: Flagship at Swansea's SA1 waterfront

DigitalTechnium: Digital communications, Swansea

AutoTechnium: Automotive sector, Llanelli & Pembrey

BioTechnium: For bioscience, at National Botanic Garden, Llanarthne

MediaTechnium: New media & technology, Llandeilo

OpTIC Technium: Optical electronics, St Asaph

AberTechnium: Aberystwyth University site

Q&A: What are Techniums?

Opened in 2002 at Gelli Aur overlooking the River Towy, MediaTechnium aimed to develop 32 businesses in the multimedia and broadcasting sector.

It looks to make good on the promise that, in the digital age, talented west Wales workers need not leave a higher quality of life for the city to find top jobs.

But the private firm which manages the project - also named Gelli Aur - is withdrawing due amid "continuing uncertainties in the current international economic climate".

"MediaTechnium remains an exciting and ambitious project," said Gelli Aur chief executive Jeffrey Thomas, whose company is owned by Alkemi.

Salvage

The WDA is now talking to the Welsh European Funding Office and other partners to salvage the scheme.

"The aim is for the MediaTechnium to contribute towards the economic regeneration of west Wales," said WDA executive director Mike King.

"Although the loss of a private sector partner is regrettable, we are in discussions with our partners to define the next steps required to deliver the MediaTechnium."

The agency had already given Gelli Aur a £434,000 property grant but will now look to recoup that funding.