Cardiff Capital Region has been backed by £30 million to boost innovation and growth, making it one of three UK cities and regions to be supported by the government’s £500 million local innovation fund.
UK Research and Innovation (UKRI) will collaborate with city region authorities, businesses and research organisations to invest money into a range of regional and national priorities in science and technology, from life sciences to AI to sustainable energy.
The investment could help develop the existing strengths of Cardiff, and Wales more widely, which includes its role in developing electric vehicle components to its data science capabilities.
The funding is part of the Local Innovation Partnerships Fund (LIPF), which was announced ahead of last month’s Spending Review to target innovation investment in high potential areas: Glasgow, Belfast-Derry, and Cardiff. Seven regions of England were also announced as recipients last month, from the North East to London.
Announced as part of a record £86 billion research and development settlement until 2030, this will help the government deliver the Industrial Strategy.
UK 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 is playing a leading role in the technologies of the future that can benefit people throughout the UK.
“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.”
Secretary of state for Wales Jo Stevens said: “This funding from the UK 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.”
