Welsh Government's Innovation Strategy

Part of 1. Questions to the Minister for Economy – in the Senedd at 1:32 pm on 15 June 2022.

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Photo of Vaughan Gething Vaughan Gething Labour 1:32, 15 June 2022

Thank you for the question. Obviously, I won't prejudge everything that will be in the final strategy, but I am confident that we will have both a draft and a final strategy that will see a place for small business innovation, as indeed SMARTCymru has a range of areas of success that we can highlight, and probably in every single region or constituency there will be a business that has had support from that that has made a real difference to productivity and jobs. In fact, yesterday, I signed off another statement that looks at something in the Vale of Glamorgan, where they've trebled their head count because of the engagement with SMARTCymru and the links to academia as well. So, you’re quite right to draw the links between further and higher education and how that research and innovation that takes place there leads to innovation and improved business practices within the world of work, for both smaller businesses and indeed for the large compound semiconductor clusters that exist around Newport as well.

It’s key to have Government, businesses, and academic research actually to be applied, to make a difference. So, I think that when you see the draft of the consultation, it’ll be positive and then it should allow us to build on what we’ve already done but with a refocused mission because we haven’t had all of the funding commitments that were made to Wales being honoured. So, it makes it even more important that we generate greater value from the moneys that we have got, as well, of course, as generating greater returns for Wales from UK competitor funding pots as well. There’s plenty for us to do, but I hope the Member will be positive and content when she sees the place and the role for small businesses in the new strategy.