£3m investment for Wales’ growing geospatial and space technology sector

Friday July 13th, 2018

Finance Secretary Mark Drakeford has announced a new £3m EU-backed scheme to help companies in Wales exploit the fast-growing spatial intelligence market (July 12th).Government Opportunities

Aberystwyth University, in collaboration with QinetiQ, will lead the Geographical Data and Earth Observation for Monitoring (GEOM) programme, which uses state-of-the-art earth observation satellites.

The initiative will help Welsh companies exploit satellite and drone technology to capture vital information for use by sectors, including agriculture, energy, security, environment, transport and infrastructure. This will enable them to develop market-ready products and services.

The programme is being backed by £1.9m of EU funding through the Welsh Government.

Professor Drakeford said:

This is another great example of how the Welsh Government is investing EU funds to position Wales as a competitive and outward-facing nation.

“Driving innovation through world-class research and expertise in our universities alongside businesses will secure investment and employability in this fast-growing sector.

“Wales has benefited hugely from EU funding over the years and this once again highlights the importance of securing replacement funding for Wales once the UK leaves the EU.”

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