Public-private collaboration to unearth new economic opportunities for Wales internationally.
GlobalWelsh, the not-for-profit community interest organisation focused on engaging and connecting the Welsh diaspora, has announced that it is working with Welsh Government. The new partnership will be focused on extending support to Welsh entrepreneurs and businesses with international trade ambitions and developing new diaspora-led inward investment opportunities for Wales.
As part of the Welsh Government’s International Strategy, published in 2020, GlobalWelsh will work jointly with the government’s inward investment and export teams to deliver diaspora engagement activities across priority sectors including; FinTech; MedTech & Life Sciences; Marine Technology and Renewable Energy; Next Generation and Electric Vehicles; Compound Semiconductors; and Cyber.
The partnership signals a collaborative step forward in diaspora engagement to harness the goodwill, expertise and networks of the diaspora to support the delivery of the Welsh Government’s Diaspora Engagement Action Plan. Activities will be focused on trade mission support, business mentoring, and the facilitation of new connections and opportunities for inward investment and Welsh businesses looking to trade overseas, according to Walter May, founder and CEO of GlobalWelsh:
“If there ever was a time for Wales to reach out to the diaspora, it’s now. We have upwards of three million friends, scattered all over the world, and it’s never been easier to engage and mobilise their goodwill. GlobalWelsh is one of the first diaspora organisations in the world to build the technological facility, together with supporting programmes, that enable the diaspora and the home nation to proactively connect, collaborate, support and invest in each others’ careers and business ambitions.”
A report, conducted by GlobalWelsh in 2015, found that more than 100 governments worldwide were developing strategies to engage their diaspora, recognising the role key members of the diaspora can play in improving the economies of their country of birth, ancestry or affinity, without having to return home permanently. A collaborative approach between the private sector and government has proven to be an effective approach to diaspora engagement and Walter May welcomed the Welsh Government’s support:
“We are delighted that the Welsh Government recognises the role of the Welsh diaspora as an untapped resource of knowledge, connections and soft power that can actively contribute to Wales’ economic well-being and global presence. We are looking forward to supporting the government and unearthing new opportunities for Wales and Welsh businesses, together with the diaspora.”
Over the past three years, GlobalWelsh has built a global multi-level community of over 11,000 people and launched engagement platforms and programmes across its key areas of focus including investment, mentoring, networking and thought leadership.