The Welsh Government is investing £30 million in new programmes that will help Welsh organisations develop and embed new innovative products and services to help improve people’s lives, grow the economy and address the climate and nature emergency, Economy Minister, Vaughan Gething and Climate Change Minister, Julie James have announced: New £30 million funds launched to boost innovation in Wales | GOV.WALES
- New £20 million SMART Flexible Innovation Support (SMART FIS) programme designed to invest in new cutting-edge research and innovation that will improve people’s lives.
- Supporting organisations to innovate will help create new products and services, improve skills, helping to develop RD&I capability and capacity to support sustainable growth.
- Ministers also launching £10 million Circular Economy Fund for Business to support them move towards a circular, net zero carbon economy.
The SMART Flexible Innovation Support (SMART FIS) Programme, which is now open for applications, will help Welsh businesses, research organisations, academia and public and third sector bodies to innovate, create new products and services, and improve skills, helping to develop RD&I capability and capacity to support sustainable growth.
Investment will be targeted towards activity which will help deliver the missions laid out in the Welsh Government’s new innovation strategy, Wales Innovates.
The programme will help organisations achieve “Innovation Excellence” by developing Innovation Plans and proposals, working alongside a team of specialists who provide expertise, consultants and funding.
Further information on how to apply for the funding is available on the Business Wales website.