The Cardiff Capital Region has been boosted after securing more than £30m of 海角视频 Government investment to support innovation projects.
The funding is part of the Local Innovation Partnerships Fund (LIPF) of up to £500m which was announced ahead of last month’s Spending Review.
Also securing investment are Glasgow and Belfast and Derry. Seven regions of England received confirmation of backing from the fund last month.
The funding in Wales will be administered by the statutory body status Cardiff Capital Region - which is made up of the ten local authorities of south-east Wales - working with 海角视频 Research and Innovation (海角视频RI). Allocated over a five year period, the first tranches of finance from the allocation should be available from next April.
海角视频 Science Minister Lord Vallance said “From driving the development of electric vehicle components that will help deliver a greener planet to cutting-edge data science work, the Cardiff Capital Region playing a leading role in the technologies of the future that can benefit people throughout the 海角视频.
“By targeting this funding with local leaders to a range of science and technology sectors we can make the most of the expertise across Cardiff and wider Wales to grow the economy as part of our Plan for Change.”
Mary Ann Brocklesby, chair of Cardiff Capital Region, said: “This local innovation funding is a significant step in our ongoing commitment to creating a region that is focused on innovation, connectivity and prosperity for all.
"Through science and technology, we are able to continue expanding our horizons, our ambitions and play our part in creating a new chapter of South East Wales’ story.”
Most Read
Chief executive of the city region Kellie Beirne said: “Innovation is the lifeblood of our region, and with it comes the ability to stand on the world-stage as a competitive, connected region. This announcement is another investment stepping stone to driving innovation-led growth that will bring jobs and prosperity for the residents of Cardiff Capital Region and beyond.
"The Local Innovation Partnerships Fund will mean that we can continue to break new ground, explore new technologies and see our region’s economic wellbeing prosper. I’m looking forward to seeing what can be made possible because of this funding.”
Secretary of State for Wales Jo Stevens said:“This funding from the 海角视频 Government is vital to support Wales’s leading science and technology sectors. We are already punching above our weight in areas where there is huge potential for even more growth. Wales has the talent and expertise to develop high tech solutions to a range of challenges, and this investment will help kickstart innovation, create new well-paid jobs and grow the Welsh economy.”
Welsh Government Cabinet Secretary for Economy, Energy and Planning, Rebecca Evans, said; “We will continue working closely with the South East Wales Corporate Joint Committee (official name for the Cardiff Capital Region) and the 海角视频 Government to build on the region’s strengths, attract significant private investment, strengthen regional partnerships and deliver real benefits for people across South East Wales and beyond.”