3. Statement by the Minister for Economy: The Innovation Strategy

Part of the debate – in the Senedd at 2:47 pm on 28 February 2023.

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Photo of Luke Fletcher Luke Fletcher Plaid Cymru 2:47, 28 February 2023

As the Minister rightly pointed out, our departure from the EU has had a detrimental impact on our ability to access funding. What was it, 'Not a penny less, not a power lost'? Now, at least, the innovation strategy launch allows us to have a shared mission across party lines that joins our attention to making Wales a dynamic nation for the future. 

Now, innovation strategies across Europe have seen success and they aren't a new idea. Finland, in 1967, established Sitra, which is a body committed to innovating, regardless of which party is in power. And within 10 years, Sitra achieved education reform, which just so happens to be the same structure that we, as well as much of the world, have followed. So, there is tremendous potential for a Wales innovation strategy like Finland's to not just impact domestic policy but to influence international change as well. 

Now, for Wales, we have an abundance of green energy potential. If we do this right, this innovation strategy has the capability to not only revitalise parts of Wales that have—and still do—experienced economic stagnation but to also place Wales as a leading nation in green innovation and policies. So, to that end, how does the Minister see the strategy feeding into supporting community-owned energy projects? It's important that the strategy links in with many of the projects up and running around Wales already, but also with those that are still in the works. We know already that community energy projects often find it difficult to get off the ground. I would also ask: how does the innovation strategy factor in the need for a just transition as we head towards a greener economy?

Now, by establishing well-defined goals within the strategy, policy makers will have the opportunity to not just influence green economic growth but to also influence the direction, the impact and the purpose of each goal. And, on the point of economic growth, how will this strategy support and assess requests not just from local businesses and SMEs but also social partnerships and co-operatives that might want to conduct research and development but simply haven't got the capital? There lies a way of developing truly homegrown innovation.

Now, although we look forward to future innovations, we must also acknowledge the recent past. The COVID-19 pandemic has undoubtedly had a negative impact on the progress of innovations across Wales, and as a result we must also understand that the mission areas such as the health and care system need critical attention, and we need to act swiftly to remedy this. So, I would be interested to understand how Government might prioritise or be flexible with the missions within this strategy.

Looking at another international comparison, the Research Council of Norway has five core strategic areas. Now, these five strategic areas are intrinsically linked and cannot be achieved without societal change, both within and outside of Norway. As a result, societal change is at the heart of innovation strategy as a whole. Now, if Wales as a society has not bought into policies, then it will be very difficult for them to succeed. A key requirement for success is therefore to have actors and a variety of stakeholders with sufficient knowledge and resources to help connect and embed innovations and novel practices within existing structures and institutions. So, to that end, this will of course be key to achieving the four missions set out, and I'd be interested in hearing the Government's work in bringing those stakeholders together to date.