FOUR start-up businesses have been created after budding entrepreneurs took part in a one-year “bootcamp” programme, which was set up by a multimillion-pound Newport foundation.

The Alacrity Foundation, backed by Newport billionaire Sir Terry Matthews, has been equipping university graduates with the skills, knowledge and contacts to run their own technology companies.

The four start-ups are the first to finish the programme, which began 18 months ago.

Funding has been provided by the Welsh Government, Wesley Clover and the Admiral Insurance-backed Waterloo Foundation.

Simon Gibson, founding trustee of the Alacrity Foundation and chief executive of Wesley Clover said: “Alacrity was established with the simple mission of assisting in the renewal of South Wales’ economic base.

“The foundation’s trustees are extremely grateful to the Waterloo Foundation and Welsh Government for supporting our vision.

“We felt if we could back this goal by asking some of the best business minds to share their experience with our graduates, the ambition was achievable.

“We are now 18 months into Alacrity’s Graduate Programme. The fact we have four teams that are already trading and headquartered in Newport gives us confidence we have designed a winning formula.”

Firms emerging from the scheme will receive venture capital of up to £250,000.

The four companies, which are all based in Newport, are Enjovia, Learnium, Echosec and Which LED light.

Enjovia has developed software that be used by the hotel and leisure industry to generate income, which can also be integrated into hotel’s own websites.

Learnium has created an online learning platform that is interactive so students can communicate with their lecturers or teachers in a closed online space.

The company has already seen Coventry University sign up as a client.

Echosec uses Google maps to bring together every geo-tagged piece of social media within a particular area and Which LED light uses price comparison techniques for LED lighting.