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Published: 22nd January 2024

Funding Helps TIC Business Scoop Innovator Award

An award-winning cyber security provider in Cornwall has received £50k in funding via SWIG Finance to expand the business.

Cool Waters Cyber Security provides cyber security services, including compliance and governance, and training.

The funding has been used to set up a cyber security apprenticeship scheme in Cornwall, which helped the business to scoop the Cyber Social Innovator of the Year 2023 at the Wealth & Finance International Cyber Security Awards.

From its headquarters in Tremough Innovation Centre in Penryn, Cool Waters supports businesses across three continents.

The business is led by business owner, Mark Faithfull, who has built a successful career in Information & Technology spanning over 35 years.

The business currently employs 6 members of staff, which includes 2 newly created roles generated by the first cohort of the apprenticeship scheme.

Of the funding, Mark said: “We used the loan to fund the launch of our Cornish Cyber Apprentices scheme – and the scheme would not have happened without the support of SWIG.  We now have our first two apprentices in place and we are on track to add two more during 2024.”

SWIG Finance’s Rachel Thomson commented: “Cornwall has high levels of deprivation, and the creation of new local roles is incredibly important for the region. Cool Waters, a family-run business, will play a vital role in helping local people to carve out new high-tech careers through their apprenticeship scheme and we are delighted to support to their loan application”.

About SWIG Finance

SWIG Finance is a non-profit company that supports viable South West businesses that can’t secure sufficient funding from their bank. By empowering underserved small businesses to overcome their financial barriers, we are working to create a more balanced financial ecosystem.

We’re growing every year. In 2022/23, we lent £14m to 478 businesses, helping to create and secure over 1,000 jobs and generate £44.6m in social impact. Download the report here.

If you’d like an informal chat about your funding requirements, get in touch with our friendly and professional team to see how we can help: / 01872 227 930.