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£115m Support Announced to Boost Innovation in the Welsh Economy

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115m new funding to support innovation confirmed by First Minister Carwyn Jones

The First Minister has confirmed two new funds backed by the EU and private sector to support new product development and job creation.

A £115m package of support to boost innovation in the Welsh economy will today be unveiled by First Minister Carwyn Jones.

With support from the European Regional Development Fund (ERDF) and private sector investment, the Welsh Government is launching two new innovation projects: SMART Cymru and SMART Expertise.

It is envisaged that the funding will support the creation of hundreds of products well-paid jobs across Wales over the funds’ seven year life cycle.

SOURCE: lifescienceshubwales.com