A pledge to boost business in Wales was signed at AMRC Cymru yesterday (April 27), as the world-class research centre played host to Innovate UK and Welsh Government for the signing of a new agreement outlining how the two parties will work together to grow the Welsh economy.

Innovate UK and the Welsh Government are joining forces on delivering an action plan to create opportunities for innovators and entrepreneurs across Wales, paving the way for a strengthened high value economy. The plan focuses on three themes: connecting support; stimulating innovation and sharing more data to achieve common goals. 

A Memorandum of Understanding (MoU) was signed to mark the collaboration, representing the first agreement agreed with a devolved government, which took place in front of business leaders from across the region at a special event held at AMRC Cymru in Broughton, North Wales. AMRC Cymru is part of the University of Sheffield Advanced Manufacturing Research Centre (AMRC), and turns world-leading research into practical improvements for industry, helping to boost productivity, sharpen their competitive edge and save time, money and energy. 

Steve Foxley, chief executive officer at the University of Sheffield AMRC, said: “To have the opportunity to host the Memorandum of Understanding signing between the Welsh Government and Innovate UK is a matter of great pride for AMRC Cymru. Innovation drives productivity and the Memorandum of Understanding sets a framework for growing the amount of innovation in Wales which makes it a vital milestone for the Welsh economy. 

“Our role at AMRC Cymru is to help regional businesses - particularly manufacturing businesses - to be more competitive, more productive, and more sustainable through collaboration and research. 

“The new collaboration arrangement is an exciting mission that brings focus around priorities and convenes the right people to align with a shared vision of building a stronger and greener Welsh economy through R&D and innovation.”

Vaughan Gething MS, Minister for Economy, Welsh Government said: “This Memorandum of Understanding with Innovate UK follows on from our commitment under our recently launched Innovation Strategy, ‘Wales Innovates’. It signals how we plan to enhance our collaboration through a coordinated joint effort to promote, engage and develop high quality innovation proposals from across a diverse range of innovation stakeholders, sectors and regions to ensure Wales increases its share of competitively awarded funding. 

“This closer relationship will enable progress against the targets in our Innovation Strategy and wider objectives. The Welsh Government is determined to set the foundation for a dynamic and prosperous future for Wales where, by working together, we can create opportunities for entrepreneurship, collaborative innovation and new technologies that can have positive impact on every part of society.”

Indro Mukerjee, chief executive officer at Innovate UK said: “Innovate UK is building strong collaborations both nationally and locally. I am pleased to announce this new partnership with Welsh Government to support innovation and drive economic growth, creating a diverse and thriving innovation ecosystem. Wales has been an important contributor to the UK's innovation success, particularly in the areas such as advanced manufacturing, life sciences, and compound semiconductors and we look forward to working more closely together and building on this success.”

AMRC Cymru research director, Andy Silcox, expressed 'pride' over the MoU agreement between Welsh Government and Innovate UK being signed at AMRC Cymru. Watch the video to see what he had to say.