Home | News and blog | Blog | The rise of schoop
05/03/2015

From big ideas to No. 10, the rise of Schoop shines a spotlight on Welsh digital sector

Cardiff based app developer Schoop has had a remarkable last 12 months or so since receiving a Finance Wales micro loan to help launch the company in January 2014.

First there was the multi-million partnership deal with major European programme solutions provider GMPS who saw huge potential in the Schoop app, initially designed as a tool to improve schools’ ability to communicate and engage with parents.

Soon after that there was the announcement that the new partnership planned to release Schoop’s smartphone technology to 120 countries worldwide.

Most recently there was the Schoop’s appearance at Tech Nation’s Pitch 10: a showcase event of the most promising digital companies in the UK held at No. 10 Downing Street in front of a number of impressive names from the UK’s digital sector.

Schoop’s Founder Paul Smith reflects on the latest success in the company’s rapid rise to prominence:

“Presenting at No. 10 Downing Street was an amazing, if what slightly surreal experience. For Schoop to be recognised as one of the UK's best tech start-up companies is a fantastic achievement, and we're very proud of it.

“Pitching to 40 plus venture capitalists and government advisers with the backing of Number 10 is pretty significant recognition, and hopefully a springboard that drives Schoop into every school in the UK and beyond.”

Finance Wales Investment Executive, Rhiannon Brewer was responsible for structuring the loan Schoop required to launch their app, she said:

“Schoop clearly shows when a good idea gets the right backing it can go a long away. This year their technology will be available in countries like Australia, China and Malaysia, it is an inspiring success story, one that will hopefully encourage other potential Welsh business owners to get in touch with us.“

In the build up to the event Tech Nation named South Wales as one of the UK’s top 5 fastest growing digital areas in the UK with an 87% increase in the concentration of digital companies. Their report goes on to highlight ‘access to public finance’ as a key benefit for digital companies based in South Wales.

Through Finance Wales there are a range of finance options for start-ups based all around Wales. Micro loans and debt financing means start-ups can get funding for a range of start-up costs including cash flow, capital expenditure and stock purchases.

Equity options are also available through the Welsh Government’s Wales Technology Seed Fund launched in April 2014 specifically to provide seed finance to young Welsh tech start-ups.

Tech Nation report

http://www.techcityuk.com/wp-content/uploads/2015/02/Tech%20Nation%202015.pdf

FInd out more on the Wales Technology Seed Fund.