Tuesday fifteenth November introduced the much-anticipated unveiling of CCR’s £50 million Innovation Funding Capital fund – with a totally subscribed launch occasion at Cardiff’s Principality Stadium seeing a 180-strong viewers get pleasure from studying how this fund will take SME innovation in South East Wales to an entire new stage.
The occasion was expertly chaired by John-Paul Barker, PwC Regional Market Chief for Wales, who eloquently summed up the significance of a fund that may “change the panorama of SME innovation in our area, ceaselessly.” JP was not alone in his expectations for this pioneering funding programme, with keynote speaker contributions reflecting the total assist being given to the programme by Authorities, the Welsh enterprise communities and the broader innovation ecosystem.
The Rt Hon. David TC Davies, MP for Monmouth and Secretary of State for Wales, put the Innovation Funding Capital fund in a wider macro perspective, highlighting the significance of Innovation to the expansion of the UK financial system as an entire, praising the encouraging early successes already achieved by the CCR Metropolis Deal in being a spotlight for innovation and a catalyst for sustainable progress – and stressing the significance of supporting the entrepreneurial spirit and urge for food for innovation that’s obvious in South East Wales.
Kellie Beirne, Director of CCR Metropolis Deal, thanked the minister for the assist proven by each UK and Welsh governments, who’ve enthusiastically backed the IIC fund – and reminded the viewers of the crucial must convert the Area’s sturdy analysis base into the tangible outcomes which are an indicator of a thriving innovation ecosystem.
Kellie identified that CCR’s dedication to creating an “Innovation Readiness” has already introduced two UK Energy in Locations Fund investments to the Area – within the form of serious funding for CCR’s Compound Semiconductor and Media industries – and that urge for food for ‘good progress’ has additionally pushed CCR’s institution of a Strategic Premises Fund, in addition to inspiring the most important investments made in each the Cyber Innovation Hub and FinTech Wales.
“That very same focus and sense of function is now driving the IIC fund for modern scale-ups who want the assist of affected person capital – upping our Area’s innovation depth and ensuring we do all we are able to to make sure that the 55% of innovation funds earmarked for funding outdoors London and the Larger SouthEast lands with our sensible SMEs” mentioned Kellie.
Michael Magee, PwC Accomplice main the agency’s Monetary Providers Offers Observe, walked the viewers by means of the streamlined 5-step funding strategy of a pioneering funding programme created by CCR and powered by PwC: highlighting the emphasis on making affected person capital accessible over an preliminary 5-year interval to facilitate ‘good progress’ that assist scaleable, ESG-centred and R&D-focused companies – growing the attractiveness of CCR to each indigenous and non-indigenous enterprises.
Dr. Joe Marshall, CEO of the Nationwide Centre for Universities and Companies, supplied an up-to-the-minute evaluation of UK-wide Innovation, referring to levelling up, scoping the important thing regional and native variations throughout the UK, detailing the Rees Evaluation findings (specifically the position of ‘investor relations’ that sit on the coronary heart of the IIC) – stressing simply how important an element is performed by finance in UK innovation, and the significance of strengthening allegiances and connections throughout the innovation ecosystem.
The keynote speaker’s session was delivered to a detailed by the inspirational phrases of Rhiannon Thomason, CEO of Human Knowledge Sciences (HDS), who shared her views on why innovation is the lifeblood of any enterprise seeking to scale and develop, giving heartfelt insights into how CCR’s fairness funding in HDS has enabled a pioneering Cardiff-based enterprise to scale up and rework international healthcare, by means of the expansion of an professional crew – and improvement of the superior healthcare analytics that energy the corporate’s revolutionary Livingstone platform.
Kellie Beirne famous simply how prescient Rhiannon’s phrases are proper now, for each CCR and the SMEs of a area that accounts for 50% of Welsh financial output:
“Getting ‘on the market’ to see how we might help our companies – in addition to our tutorial collaborations and wider group challenges – is a core thread within the CCR DNA.
“It’s the explanation we’re right here, to be a catalyst for good progress and producing shared prosperity for future generations.
“That’s why the entire crew at CCR and our companions at PwC and Capricorn Fund Managers are so excited concerning the potential for good that’s inherent on this fund.
“Now it’s time to grasp that potential, to the total.”
For extra data on how the IIC fund is investing in SME innovation, go to: www.cardiffinnovationinvestment.com