Finance Secretary Mark Drakeford has today announced £1.7 million of EU funding to boost Wales’ manufacturing sector.
The EU funding will support small and medium-sized enterprises to maximise the use of advanced technology to create new and improved processes and products as part of the £2.8 million Advanced Design Engineering project.
Led by the University of Wales Trinity St David, the project will support manufacturing businesses to move away from traditional manufacturing methods to new processes, helping to increase their competitiveness and sustainability in global markets.
Finance Secretary Mark Drakeford said:
“This EU-funded scheme will equip the Welsh manufacturing sector with the knowledge needed to take advantage of emerging technology trends to compete in global markets.
“This investment will help drive employment, productivity and growth in our economy.”
Professor Medwin Hughes, vice chancellor of University Wales Trinity St David, added:
“The university has a long tradition of working in partnership with industry and delivering programmes and collaborations which meet the needs of industry. We are delighted to have secured funding to deliver the next level of collaborations, which will allow us to work with the manufacturing sector to respond to the technological challenges of the fourth industrial revolution.
“It will also enable us to support manufacturing SMEs to embrace the significant opportunities to help Welsh industry – particularly the manufacturing sector – respond to rapid technological change.
“The university shares the Welsh Government’s ambition to secure future employment, productivity and growth in the country’s economy and is very pleased to be making its research capabilities in advanced manufacturing available to companies by collaborating in this way.”