USW becomes leading partner in £6.6m Cardiff Capital Region economic development programme

The University of South Wales (USW) is one of the leading partners in a £6.6m programme to drive business and economic development across South East Wales.

The Cardiff Capital Region City (CCR) Deal has launched the programme in an effort to drive economic development across the region by boosting job creation and skills, and unlocking barriers to growth for businesses.

Jointly funded by CCR and the UK Shared Prosperity Fund (UKSPF), the two-year Cluster Development & Growth Programme will deliver targeted projects, supporting activity within CCR’s priority sectors - Fintech, MedTech, Cybersecurity, Compound Semiconductors, and Creative Industries, along with CCR’s Net Zero ambitions.

Contracts have been awarded to three delivery partners which will each manage one of three targeted projects; a Skills Programme, a series of Academic-Industry Partnerships, and a Business Growth Programme.

USW will lead the consortium for the Academic-Industry Partnership Programme; Cardiff and Vale College will lead a network of higher and further education, and specialist skills partners to deliver the Skills Programme; and Grant Thornton LLP, alongside delivery partners Business in Focus and Cardiff Metropolitan University School of Business, will address scale-up support for enterprises in the Business Growth Programme.

Julie Bellamy, Director of Engagement and Enterprise at USW, said: “We are proud to be working with CCR to build on the strong links between academia and the business community in South East Wales. Our collaborative approach with regional Higher Education partners and our Further Education Strategic Alliance is informed by industry need, and will drive business growth and innovation through the exchange of knowledge and expertise.”

The development of the Programme was supported by CCR’s Regional Business Council, and its Chair, Nigel Griffiths commented: "The launch of these programmes is a watershed moment for our Region. By investing in our people and our businesses, we are creating the conditions for sustainable growth and prosperity. I am confident that these programmes will help us to build a stronger, more resilient, and more prosperous future for everyone.”

CCR, which is home to half of Wales’ population, covers the region’s 10 local authority and represents 50% of the country’s economic output of the Welsh economy. Its key focus is to build on the sectoral strengths of South East Wales while tackling wider social mobility challenges.

UKSPF is a central pillar of the UK Government’s Levelling Up agenda, which provides £2.6bn of new funding for local investment across the UK as a replacement for European Structural Funds.