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23rd April 2024

Partner insight: Universities collaborate to support business growth

Three Chamber Partners are collaborating to deliver a programme which will unlock ambitious growth opportunities for high potential businesses in Wales.

The Academic-Industry Partnership programme, funded by the Cardiff Capital Region (CCR) and UK Levelling Up, has recently opened for expressions of interest and applications.

The project will be delivered by three Chambers Wales South East, South West and Mid Partners: the University of South Wales in collaboration with Cardiff Metropolitan University and Cardiff University.

The programme

The Academic-Industry Partnership programme, which is part of CCR’s Cluster Development and Growth Programme, aims to bring together industry and academia to identify innovative solutions to enterprise challenges, particularly for micro, small and medium-sized enterprises (SMEs).

Businesses will be partnered with relevant academic expertise and knowledge from the universities to expedite growth through the application of research and development innovation. The programme will help facilitate the development of new or improved products, services, technologies or processes by fostering innovation and economic growth within the region via targeted funding.

The opportunity

The programme is available for SMEs across the Cardiff Capital Region which covers ten local authorities: Blaenau Gwent, Bridgend, Caerphilly, Cardiff, Merthyr Tydfil, Monmouthshire, Newport, Rhondda Cynon Taf, Torfaen and the Vale of Glamorgan.

It offers 25 SMEs across the region up to £14,000 towards the development of new or improved products or services or new to firm technologies and processes which will boost economic growth. The programme also aims to encourage improved quality of operations, increased profitability, increased sales and access to new markets. The projects will require a small contribution match by the successful SME of 10-25% depending on the size of the organisation.

How to get involved

Businesses can submit an expression of interest form and apply.

Funding for successful projects will be awarded on a first come first served basis. Applications will be competitively assessed and scored against set criteria and eligible projects will be reviewed by the universities to determine the compatibility of projects and the viability of outputs within a set budget and timeline.

Once approved, it’s time for the SMEs to meet with their allocated academic centre to begin the project and unlock an opportunity for growth!

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