The funding forms part of the Local Innovation Partnerships Fund (LIPF), a UK-wide investment programme of up to £500 million, designed to foster collaboration between local governments, businesses, and research organisations. Cardiff Capital Region is one of only three city and regional areas across the UK selected in this latest phase, alongside Glasgow and Belfast-Derry/Londonderry.
This announcement follows collaboration between the UK Government and the devolved administrations in Wales, Scotland, and Northern Ireland. Seven English regions were also named in an earlier round of announcements.
The fund is part of a broader £86 billion R&D settlement through to 2030 and is intended to drive innovation-led economic growth. Cardiff Capital Region will work with UK Research and Innovation (UKRI) to invest in regional and national science and technology priorities.
“This local innovation funding is a significant step in our ongoing commitment to creating a region that is focused on innovation, connectivity and prosperity for all. Through science and technology, we are able to continue expanding our horizons, our ambitions and play our part in creating a new chapter of South East Wales’ story.”
“Innovation is the lifeblood of our region, and with it comes the ability to stand on the world-stage as a competitive, connected region. This announcement is another investment stepping stone to driving innovation-led growth that will bring jobs and prosperity for the residents of Cardiff Capital Region and beyond.
The Local Innovation Partnerships Fund will mean that we can continue to break new ground, explore new technologies and see our region’s economic wellbeing prosper. I’m looking forward to seeing what can be made possible because of this funding.”
“From driving the development of electric vehicle components that will help deliver a greener planet to cutting-edge data science work, the Cardiff Capital Region is playing a leading role in the technologies of the future that can benefit people throughout the UK.”
“This funding from the UK Government is vital to support Wales’s leading science and technology sectors. We are already punching above our weight in areas where there is huge potential for even more growth.
Wales has the talent and expertise to develop high tech solutions to a range of challenges, and this investment will help kickstart innovation, create new well-paid jobs and grow the Welsh economy.”
“This investment represents another vote of confidence in the Cardiff capital region and builds on our work supporting its growth, strong university research ecosystem, industry base and innovation clusters over a number of years.
We will continue working closely with the South East Wales Corporate Joint Committee and the UK Government to build on the region’s strengths, attract significant private investment, strengthen regional partnerships and deliver real benefits for people across South East Wales and beyond.”
High-potential innovation clusters not included in this funding round will have the opportunity to compete for future investment, with UKRI set to publish guidance for a forthcoming competitive process.
The Local Innovation Partnerships Fund represents a shift in the UK’s place-based innovation policy, giving regions more control over how R&D investment is targeted to realise innovation potential and foster economic development.