Boost for Welsh media industry with £22.2m innovation funding - Business Leader News

Boost for Welsh media industry with £22.2m innovation funding


Led by Cardiff University, brings together 24 media production, broadcast, technology, university and local leadership partners for the first time to supercharge media innovation.

Building on successful foundations, the programme will drive inclusive, sustainable economic growth and an additional £236 million in GVA by 2026. Across five years, the programme aims to create more innovative firms in the region and nearly triple the productivity growth rate of the region, leading to 2,000 new jobs.

The programme’s activities are designed to respond to emerging technologies, increase small businesses’ capacity for innovation and address skills needs for the future. will develop solutions to challenges and opportunities for the Welsh media sector in areas including: sustainability; bilingual production; diversity and inclusion; tourism and technology.

It will also deliver new infrastructure including a world-class virtual studio, and an innovation/R&D pipeline that enables the best ideas to become new products, services and experiences ready for market.

The programme is funded through the flagship Strength in Places Fund (SIPF), delivered by UK Research and Innovation (UKRI). is one of five major research and innovation projects announced today as part of SIPF. Each combines industry, local leadership and research and innovation expertise to help maximise an area’s potential and drive productivity.

The projects will receive a share of £127m government funding via SIPF and as a result will leverage over £110m from research organisations, businesses, and local leadership.

Secretary of State for Wales Simon Hart said: “The Cardiff area has long been established as a leading centre of media production, innovation and the creative industries. This significant backing from the UK Government will help develop the region still further, driving job creation and growth in both English and Welsh-language media and creating a truly global creative hub for Wales.”