New fund to support SMEs in Wales

Thursday July 28th, 2011

Aberystwyth University and Bangor University are to launch an ambitious programme to develop an innovation fund to support small businesses in mid and north Wales.

The fund will be operated independently of the Universities and will allow for the commercialisation of research, developed within the institutions and also from outside the universities, in the mid and north Wales region.

The venture capital fund of £2m initially, will be financed from a variety of sources including private equity, and provides an emphatic underlining of the key relationship between the Universities and the communities they serve. 

The fund is likely to be launched during the first half of 2012, subject to approval by the governing bodies of the two universities and the conclusion of discussions with the Welsh Government and other bodies.

Professor John Hughes, Vice-Chancellor of Bangor University said: “The launch of this fund demonstrates the firm commitment of both universities to contribute in a very direct way towards the economic development of our region.”

1 Comment

  1. Please send more details especially if not for profit companies are to be included.

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