How will the Minister secure the £70 million in funding lost to Welsh researchers from the transition to the UK Government’s Shared Prosperity Fund, following the news of the UK rejoining Horizon Europe?
My Ministerial colleagues and I continue to raise the problems caused by the design of the Shared Prosperity Fund and the £1.1bn shortfall to Wales compared to EU Structural and Rural Funds.
While financial gaps of this scale cannot be plugged, we are supporting the research sector in a number of ways.
Earlier this year, I launched a new Innovation Strategy for Wales which aims to create a new approach that optimises RD&I opportunities for Welsh organisations in light of the changed funding landscape.
The Minister for Education has provided an increase in research funding through HEFCW and its QR fund for universities, and we are continuing to work with HEFCW on how to increase competitive grant capture in the Welsh research system.
We are also providing advice, guidance and financial support to organisations seeking to access European research and innovation programmes and the opportunities now presented by the UK’s association to Horizon Europe.