EU funding drives Welsh engineering
An extra £850,000 (~€941,000) of funding has been secured to drive Wales’ engineering sector forward.
The funding will enable Swansea University’s Materials and Manufacturing Academy to provide more qualifications, including research masters and engineering doctorates.
Around 150 students are currently undertaking collaborative research projects alongside companies such as BASF, Royal Mint and Weartech International – developing technologies in their respective industries.
The latest funding aims to recruit a further 16 graduates to work on research in collaboration with companies including TATA Steel.
Finance secretary Mark Drakeford said: “This guarantee recognises how important EU funds are to Wales in addressing economic and social disparities. It is the only correct and logical decision, allowing continuity for Welsh communities, businesses and investors while arrangements are made for the longer term.”
The UK government’s extended guarantee of EU funds includes the European Regional Development Fund (ERDF), the European Social Fund (ESF), the European Maritime and Fisheries Fund (EMFF), and the European Agricultural Fund for Rural Development (EAFRD).
In addition, the guarantee also covers EU funds managed by the European Commission, including the Horizon 2020 research and innovation programme.
Drakeford said: “We have already invested £830m of structural funds – around 43% of the total allocation for the 2014-20 period, which puts us favourably ahead compared to the performance of other UK regions. We have also invested just more than £48m to support businesses and organisations in accessing the EU’s highly competitive Horizon 2020 programme.
“Our priority is to continue to make funding decisions as soon as we can to maximise our funding allocation and ensure activities get underway at the earliest opportunity.”
The announcement increases the funding for the Materials and Manufacturing Academy to £14.8m, of which £9.5m is EU funds.
