Finance Secretary Mark Drakeford will today announce a £3.2m initiative to help Welsh businesses to pioneer cutting-edge nano and micro technologies.

The scheme, which is led by Swansea University’s Centre for Nano Health and Welsh Centre for Printing and Coating and Cardiff University’s Institute for Compound Semiconductors, will offer expertise and state-of-the-art facilities to companies developing new or existing technologies, products and processes.

Backed by £1.8m of EU funding, it will provide technical and specialist support to put companies at the forefront of innovation in sector such as healthcare, semiconductors, packaging and functional printed materials. It will also help up to 20 collaborations get underway to develop new products ready for market.

Announcing the funding, Professor Drakeford said:

“Ensuring Welsh businesses have access to the knowledge and expertise within our highly-acclaimed universities is essential to drive innovation and position Wales on a global platform for success.

“This is another positive example of how the Welsh Government is investing EU fund to boost prosperity and jobs.

“It also highlight the important of securing replacement funding for these EU funds following Brekit so we can continue to deliver schemes like this, which benefit people and the economy.”