WIREDGOV

Economy and Science Minister Edwina Hart has announced Welsh Government support to help GE Healthcare establish a multi-million pound Open Innovation Village in Cardiff, which will create new life science businesses and attract inward investment.

The £367,000 from the Welsh Government’s Open Innovation programme will part-fund the GE Innovation Village’s first phase – shared access office and laboratories based at GE Healthcare’s Cardiff site.  The facility will include laboratory and office space and have room for 8 to 10 businesses, creating up to 25 jobs initially, with potential for further growth.

Space will be available for existing Welsh life sciences companies and will become available for new businesses and international companies looking to establish a presence in Wales. The life sciences sector in Wales employs around 11,000 people in over 350 companies.

The Minister said:

“I am determined to support the Life Sciences sector in Wales, which has great potential for growth and the creation of highly-skilled jobs. GE Healthcare is one of the Welsh Government’s Anchor Companies and this investment will strengthen their presence here and help create new businesses in the sector. The GE Innovation Village will help Wales increase its share of UK activity in commercialising university research, an area in which we are currently underperforming. The facility will also be used as a destination for inward investors looking to establish a presence in Wales.”

Ger Brophy, Chief Technology Officer, GE Healthcare Life Sciences, said:

"GE Healthcare is delighted to invest in supporting growing life sciences businesses with our lab facilities and global biotech and business expertise. The GE Innovation Village will strengthen the life sciences community in Wales and increase GE’s opportunities to collaborate on science and technology that will improve health for patients around the world."

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