Earlier this month it was announced by Welsh Finance Secretary Mark Drakeford that a new £3m EU-backed scheme is to be introduced to help Welsh businesses exploit the fast-growing spatial intelligence market.
Dr Peter Bunting from the Department of Geography and Earth Sciences at Aberystwyth University says that the investment will feed into the Welsh economy, enabling “the development of new products and services”.
Find out more about the latest EU investment below.
£1.9m EU funding
The new initiative is backed by £1.9m of EU funding through the Welsh Government. Announcing the investment, Mr Drakeford said:
“Driving innovation through world-class research and expertise in our universities alongside businesses will secure investment and employability in this fast-growing sector.”
It has been reported that Aberystwyth University will work with up to 25 companies. Those chosen will help address challenges affecting the environment, agriculture, transport, energy and infrastructure. Dr Bunting commented:
“This rapidly growing area is just beginning to realise the potential for extracting spatial intelligence from drone technology. Through GEOM we can ensure that Welsh companies are at the forefront of this exciting and growing area.”
Earlier this year it was also announced that Welsh technology companies have attracted £115m in start-up investments. In January, the BBC reported that the Development Bank of Wales “has seen a rise in demand from companies in AI, digital and software”.
Work with the Welsh public sector
In recent months the Welsh Government has been actively supporting small technology businesses that are seeking to bid for tender opportunities in Wales.
With so much investment coming from the Welsh public sector, now is the perfect time to look for public sector tenders in Wales.
Find public sector tenders in Wales with Tracker Tender Alerts. We have access to the largest tender database in the UK, meaning your business will never miss an opportunity that is relevant to the product or service you provide.