Wales continues to invest its EU funds as £6.4m CEMET project gets green light
Friday July 8th, 2016
Wales is continuing to invest and maximise the EU funds allocated to it as a £6.4m project to drive forward research to help businesses develop cutting-edge technologies and boost productivity is given the green light.
Cabinet Secretary for Finance and Local Government Mark Drakeford announced that the CEMET project (Centre of Excellence in Mobile and Emerging Technologies), led by the University of South Wales, has been given the go ahead. The project is backed by £4.2m from the European Regional Development Fund through the Welsh Government.
It will help Small and Medium Sized Enterprises (SMEs) in the Valleys, West and North Wales design and test new mobile and emerging technologies to create products and services for commercial success.
Mark Drakeford said:
“We are determined to deliver our EU funding programmes and maximise the EU funds available to us as our people, businesses and communities need this investment.
EU funds will help CEMET to utilise the knowledge and expertise within our universities to help businesses develop new products and services, and improve their competitive edge, leading to greater business growth and prosperity. It is yet another example of why it is so important that we get a guarantee from the UK Government that every penny of EU funding to Wales is safe.”
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