WIREDGOV

Welsh Government Finance Minister, Jane Hutt, has outlined how EU funds can help transform Wales into a world-class nation of research excellence and innovation.

At an event marking the first anniversary of the launch of the EU’s largest research and innovation programme, Horizon 2020, the Minister announced that two Welsh bids for Horizon 2020 funds totalling nearly £500,000 had been approved by the European Commission.

Microsemi Corporation, a multinational semiconductor solutions provider with a base in Caldicot, Monmouthshire has been successful in attracting some £320,000 of funds to support the £2.5m MEDILIGHT project which will develop a medical device for professional wound care to enhance the healing process and monitor wounds during therapy.

Horizon 2020 funds of nearly £170,000 will also be invested in Swansea University through the £1.6m Marine Investment in the Blue Economy (MARIBE) project which is a collaboration between 11 other universities across the EU and will explore opportunities to achieving marine-based economic growth through large-scale pilot initiatives in European seas.

Horizon 2020, worth nearly €80 billion across EU regions between 2014 and 2020, aims to produce world-class science, industrial leadership and promote effective collaborations between the public and private sectors to deliver innovative products for commercial success.

Addressing an audience of businesses, universities and public sector organisations, Jane Hutt said:

"Horizon 2020 presents Wales with excellent opportunities to build research excellence and enhance Wales’ reputation in the world for research and innovation.

"In addition, £310 million of EU funds through the Structural Funds will be invested in Wales to help build the capacity for research and put businesses and universities, in particular, in a stronger position to compete for Horizon 2020 funds.

"Microsemi (MSCC) is pleased to be part of the MEDILIGHT Horizon 2020 collaboration and we look forward to working with its world class partners" said Jim Aralis, Chief Technology Officer at Microsemi Corporation.

"The collaboration allows Microsemi to capitalise on its miniaturisation technologies to help deliver innovative wound healing solutions."

Collaborative Projects Officer at Swansea University, Dr Dimitrios Pletsas, said: 

"Through MARIBE we want to unlock the economic potential of European waters by improving the understanding of interrelations between different maritime activities, technology and the marine environment.

"This will lead to sustainable growth in the off-shore economy, and securing EU funds through Horizon 2020 has been very important in developing the project."

Julie Williams, Chief Scientific Adviser, said: 

"Coupling scientific excellence and innovative companies with European funding will help us build success in Wales in the future, producing better health care, new technologies, more jobs and greater economic capacity."