LONDON Leading software and IT services companies based in Wales are growing seven times faster than similar organisations covered by the FTSE techMARK according to research from the Welsh Development Agency. Whilst techMARK companies have grown by 3.9% per annum, the Welsh companies have grown by 27.5% per annum.
The research highlighted ten of the leading non-public technology sector companies and compared them with similar FTSE techMARK companies and suggested that the companies have a combined potential market value of £709million.
Companies included in the research said that a key driver in their success was the fact that the business environment in Wales is conducive to technology start-ups. Whilst some companies had Welsh roots, others were attracted to Wales because of its positive business infrastructure, which they perceived to be better than other regions in the UK.