Media industry in Wales boosted with £22.2m innovation funding

By July 28, 2021 Industry News

The Cardiff capital region will receive a £22.2 million boost to secure its status as a global hub for media innovation and production. The funding is likely to create 2,000 new jobs, as well as add £236 million to the local economy. The funding is part of the Government’s Innovation Strategy to make the UK a global hub for innovation by 2035., which is led by Cardiff University, joins together 24 media production, technology, broadcast, university and local leadership partners and will develop solutions to challenges and opportunities for the Welsh media sector in areas including sustainability; bilingual production; diversity and inclusion; tourism and technology. It will also deliver new infrastructure including a virtual studio and an innovation pipeline to enable ideas to become products and services. is one of five major research and innovation projects announced today as part of SIPF, each combines industry, local leadership and research and innovation expertise to help maximise an area’s potential and drive productivity.

The programme will drive inclusion and sustainable growth, it aims to create more innovative firms in Cardiff by nearly tripling its productivity growth rate. The programme’s activities are designed to respond to emerging technologies, increase small businesses’ capacity for innovation and address skills needs for the future.

The programme is funded through the flagship Strength in Places Fund (SIPF), delivered by UK Research and Innovation (UKRI). The projects will receive a share of £127m government funding via SIPF and as a result will leverage over £110m from research organisations, businesses, and local leadership.

Also announced today is an £8.3 million project led by Cardiff University, bp, Johnson Matthey and The University of Manchester to develop new catalysts to help the UK move to a sustainable, net-zero future. These new catalysts will convert sustainable biomass, waste, and carbon dioxide into valuable products such as fuels, reducing carbon emissions. The Prosperity Partnership project is funded by a £2.6 million grant from UKRI’s Engineering and Physical Sciences Research Council (EPSRC) and £5.7 million from partners.


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