Local Labour AM Jeff Cuthbert has welcomed a European Union announcement that nearly £5.4 billion will be invested in research and innovation.
The money from the budget of the Seventh Framework Programme (‘FP7’) will be spent across the EU and Welsh companies and training providers – including those based in Caerphilly and the Rhymney Valley – will be eligible to apply for funding.
Educational institutions (such as FE colleges and universities) and small-to-medium size businesses will all be able to apply, with grants being made through ‘calls for proposals’ and evaluations over the next year.
Jeff Cuthbert AM said: ‘This European research and innovation funding provides a huge opportunity for Wales at a time when the UK coalition government has decided to make very harsh cuts to public spending.
There are an increasing number of hi-tech companies based in Caerphilly and the Rhymney Valley; while further education institutions like the College, Ystrad Mynach are forging close links with local businesses and nearby universities as we look to equip the workforce of tomorrow with the skills that they will need.
‘The EU wants our economy to grow and provide jobs, and this is a boost that the Welsh economy could benefit from – where organisations based in the local area can show what they’re made of. I would encourage them to apply for this.’
