AberInnovation Secures £1.2m under the UK Government’s Community Renewal Fund

AberInnovation will lead three projects announced as successful under the UK-wide Community Renewal Fund (CRF) to deliver business support in Mid Wales.

On Wednesday 3 November 2021, the UK Government published the list of bids put forward to UK Government, with AberInnovation’s Productivity Accelerator, BioAccelerate programme and its Mid Wales Challenge Led Launch Pad Series all featuring on Ceredigion’s list of twelve successful proposals. Notably the Mid Wales Challenge Led Launch Pad will be delivered across both Ceredigion and Powys.

AberInnovation-led bids have attracted £1.2m of funding to support its partners and stakeholders in these innovative programmes of support.

Dr Rhian Hayward MBE, Chief Executive Officer at AberInnovation said: “We are delighted to be able to lead these pilot programmes, which could be transformative for businesses in Mid Wales and also those looking to develop their operations here. AberInnovation can now support technical feasibility studies on new products and services, investor readiness training and productivity planning with this funding and enhance the regional innovation ecosystem.”

AberInnovation’s successful bids comprise a range of targeted support for businesses in the region.  Its Productivity Accelerator will provide manufacturing- and productivity-related support to Ceredigion-based enterprises of all sizes in the biotech, agri-tech, circular economy and food and drink sectors.

Nigel Woodruff, Chief Executive Offer at The Innovation Partnership Ltd, said: “This is a fantastic gain for Ceredigion. The Productivity Accelerator draws in world-class expertise from several organisations, including the Advanced Manufacturing Research Centre (AMRC) Cymru, BIC Innovation and leading academics and researchers from across the UK.

As a result, for the very first time, businesses will be supported directly by world experts, focussing on short-term and sustainable productivity gains, which will accelerate company performance and create high-value jobs and regional wealth.”

BioAccelerate will build on a successful three-year track record of providing a tailored programme of support for startups and early-stage businesses looking to turn innovative ideas into market-ready propositions.

Finally, the Mid Wales Challenge Led Launchpad will be a new procurement programme aimed at developing novel solutions to public sector and societal issues through research and innovation whilst offering new market opportunities for businesses and people in Mid Wales.

Luke Player, Director of Innovation Strategy said: “We are delighted to collaborate with AberInnovation and partners on the Mid Wales Challenge Led Launchpad Series. This new approach offers fantastic new opportunities for businesses, people, and communities across the region. 

This funding commitment will enable us to address the most urgent societal issues in Mid Wales, facilitating world class innovation in areas such as health, sustainability, and the environment. This pioneering programme will go a long way in helping renew our communities and build a more productive and prosperous economy in Mid Wales.”

Contributing to the levelling up agenda by investing in people, places, businesses and communities, the UK Community Renewal Fund is also intended to help suitable stakeholders to prepare for 2022’s Shared Prosperity Fund.