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18/11/2015

Award-winning Bridgend educational resources company expands with a £150,000 loan from Finance Wales

Nineteen years ago Chris Malcolm set up his educational resources company and started designing and selling a small range of maths wall charts. 

Today, Daydream Education (Daydream) has a range of over 2,000 innovative and engaging products developed with experienced teachers, and has shipped over 2 million products worldwide.

Now the UK's leading provider of educational wall charts and interactive software, Daydream’s wall charts are used by over 95% of UK secondary schools and in over 50,000 schools and colleges around the world.

With technology playing an ever-increasing role in education 2013 the company developed its first maths app, Multiplication, which went on to win the Best Educational App award at the prestigious Bett Awards in 2014, opening the door to a lucrative new market.

Daydream, which currently employs 16 staff in a range of technical and other professional roles, is now using a £150,000 loan from Finance Wales to develop more educational apps, move into key European markets and upgrade its back office systems.

“As the majority of UK primary and secondary schools are now using tablets, these are exciting times for Daydream Education.  Our maths tutor app is already a popular addition to our product range and Finance Wales’ loan will enable us to capitalise on the growing market for educational apps.

“Finance Wales’ backing has given us the confidence to embark on the next phase of our development. Choosing the right funder was important and Leanna at Finance Wales took time to understand our long-term growth plan.  We’re looking forward to benefiting from Finance Wales’ expertise in future and also to getting involved with the Welsh Government’s Business Wales Accelerated Growth Programme,” Chris Malcolm, Daydream’s Managing Director explained.

A Welsh language version of Daydream’s Maths Tutor app, Tiwtor Mathemateg, recently commissioned by the Welsh Government, can be downloaded free from iTunes and Google Play.

Daydream now plans to produce cost-effective versions of its award-winning apps in a number of European languages, increasing its international reach and expanding its direct, Australian and US reseller sales channels.

Local Investment Executive, Leanna Davies worked closely with Daydream’s management team to agree Finance Wales’ loan.  She said: “Chris and his team are passionate about education and they’ve adapted to changing trends both in education and technology over the years.  Daydream Education is an impressive international business with significant future growth potential.
 
“Finance Wales’ loan has provided the company with the funding to develop a new range of products driven by the explosion in the apps market as well as the ever-increasing use of technology in education.”

With the Best Educational App Award already under its belt, Daydream is hoping for further success at the Bett Awards in 2016, having been selected as a finalist in two categories: Primary Digital Content and ICT Tools for Teaching & Learning.