The Internet of Things (IoT) Accelerator of (www.innovationpoint.uk) Wales programme has been launched in a bid to turn Wales into a hub for connected technology, by giving promising technology businesses the investment, knowledge and contacts they need to develop IoT solutions.

It is a collaboration between Innovation Point, The Accelerator Network, Barclays Eagle Labs, Inspire Wales and the Development Bank of Wales.

Set to run for 12 weeks, it will identify IoT businesses in key areas including manufacturing, cyber security, energy, education and agriculture; 10 of them will be accepted onto the programme and receive £50,000 of investment, as well as access to high-tech facilities, academic expertise and free office space.

Applications will close on 9 December. Businesses from all over the UK are being invited to apply for the programme, but firms outside Wales will have to relocate.

Ken Skates, the Welsh Economy Secretary, said that the launch of the IoT Accelerator was intended to encourage the development of Wales’s tech sector: “It is great to see the establishment of an Internet of Things Accelerator in Wales.

Digital technology is developing at lightening speeds, and the Internet of Things focuses that change on how we live and conduct business.

“The connection of SMART devices and the analysis of the data they generate will help us to improve service delivery, productivity and resource efficiency in Wales.”

David Warrender, CEO of Innovation Point, said: “Launching the first IoT accelerator programme here in Wales is yet another example of the country’s growing role in the digital revolution.

“The programme will have an intense focus on IoT security-related devices and applications, giving high-potential applicants access to a globally proven network of business mentors, high-calibre partners and potential investors — all critical components of accelerated success.”

Companies that have pledged to support the accelerator include Sony, Airbus, Cardiff University, Group Endeavr Wales, Sorensen, Business Wales, TechUK, Pinnacle and RS Labs.