Part of 1. Questions to the Minister for Economy – in the Senedd at 1:30 pm on 15 June 2022.
Diolch, Weinidog. The Reid review contained five central recommendations for the Welsh Government on how to support research and innovation in the aftermath of Brexit. With higher costs now eroding small businesses' margins at a rate that many have not experienced before, many small firms are now facing multiple headwinds that threaten the stability of our economy. Giving small businesses the tools to innovate could help unlock their potential and improve the resilience of our economy. Given the need to drive up levels of innovation and the Reid review's emphasis on the importance of involving small businesses in R&I policy, how will the Welsh Government's new strategy ensure that innovation partnerships are focused more on smaller businesses? A Welsh innovation strategy could play a key role in unlocking the innovation potential of small businesses. As the Innovation Advisory Council for Wales recommended, we urgently need greater private and public sector investment and partnering in innovation programmes, skills and talent throughout Wales. Can the Minister therefore confirm he would see the strategy supporting the forging of such partnerships, and how will the Government ensure that its innovation strategy increases the scale of collaboration between businesses and universities, as called for by the Federation of Small Businesses? Diolch.