Newcastle-based Nomad Digital, the global leader in wireless solutions to the transportation sector, has been selected as part of the Future Fifty cohort – a group of high-growth companies chosen to receive support and funding from the UK government.
The Future Fifty is leading a movement that is seeing increasing numbers of technology companies primed to take advantage of recent innovations, such as the High Growth Segment and the scrapping of stamp duty on AIM shares, making UK listings more attractive for growing tech companies.
The Future Fifty programme will give all chosen companies bespoke access to support from Government and the private sector, matching high potential growth-stage businesses with bespoke public and private sector support to fast-track their growth, create jobs and deliver a significant economic impact to the UK.
Nomad was chosen on the success of its application to join the cohort, following a round of judging by a 17-strong independent advisory panel – that would see the most recent list of 25 high-growth companies join an initial first wave announced in October. To be eligible for the Future Fifty programme, companies were required to be head-quartered in the UK, generate an annual net revenue with a run-rate of at least £10m over the coming 12 months – and have increased net revenue year-on-year by an average of at least 30% over the last two years.
Speaking of the announcement made on Friday, Nomad 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.”