Innovation Strategy have worked to successfully secure UK Shared Prosperity funding for four different projects across Mid and South Wales to support the Levelling Up agenda, stimulate innovation and productivity growth. The projects also align to the Well-being of Future Generations Act (2015) and local policies in the respective local authorities of Ceredigion, Powys, Carmarthenshire, and the Vale of Glamorgan. 

The UK Shared Prosperity Fund (UKSPF) is investing in communities and place, supporting local businesses, and people and skills to level up opportunity and prosperity across the UK. UKSPF interventions are planned and delivered by councils and mayoral bodies across the UK to invest in areas that matter to the localities.

Through these projects Innovation Strategy are creating jobs and boosting community cohesion, through investments that build on existing industries and institutions and range from support for stating businesses to local retail, hospitality, and leisure sector facilities.  The projects also promote networking and collaboration through interventions that bring together business partners with and across sectors to share knowledge and stimulate innovation. The targeted support for Welsh SMEs to undertake new-to-firm innovation and adopt greener technologies and techniques provided through the projects increases private sector investment to further promote growth.