A Newcastle-based technology company seen as the global leader in wireless solutions for the transportation sector has been named in the second wave of 25 companies to benefit from a prestigious national growth initiative.
Nomad Digital, which is the world’s largest provider of on-board IP connectivity to the rail industry, has been selected as part of the Future Fifty programme, aimed at accelerating the success of high-growth tech businesses by matching them with bespoke public and private sector support.
The first list of firms to join the cohort was announced in October, with Nomad being selected on the strength of its application following a second round of judging by a 17-strong independent advisory panel.
The programme was first launched in April by the Chancellor George Osborne and Joanna Shields, UK Ambassador for Digital Industries and chief executive of Tech City UK.
It is seen as a way of ‘connecting the dots’ on what the UK Government has to offer entrepreneurial companies through providing a single point of contact, as well as range of private sector delivery partners.
The initiative also matches companies with publicly funded schemes and incentives relevant to their stage of growth and specific needs.
To be eligible for the programme, which ultimately aims to create jobs and deliver a significant economic impact, companies had to be headquartered in the UK, have increased net revenue by an average of at least 30% over the last two years, and be able generate an annual net revenue with a run-rate of at least £10m over the coming 12 months.
Established in 2002, Nomad Digital now has several offices covering continental Europe, Australia, the Middle East and Americas. The company has also been listed in the Sunday Times Tech Track 100 for the last three years running.
Co-founder Nigel Wallbridge said: “Nomad Digital has gone from a simple idea to a global business employing 250 people.
“I am very proud of the company and this Future Fifty award is great affirmation that the business is widely appreciated.”
Tech City UK supports tech businesses, helping them grow, and represents the views of the industry to Government.
Five of the first 25 companies to be listed on the Future Fifty programme recently joined the Prime Minister David Cameron on his trade mission to China.