Posted on 16 July 2010
(Left to Right) Smartkem CEO Steve Kelly, Alun Ffred Jones AM (Minister for Heritage), POWIS Scholar Robert Holmes, UW Vice-Chancellor Professor Marc Clement and UW Chairman Huw Thomas (Photo: Richie Turner)
Continuing to spread its innovative reach throughout the country, The University of Wales Global Academy initiative is now open for business in North Wales. A dedicated office and Innovation Fellow will be housed in Galeri Caernarfon Ltd, where the official launch is set to take place in the company of the Minister for Heritage, Alun Ffred Jones AM, on Friday, July 16 2010.
Also present at the launch will be representatives from two north Wales-based companies – SmartKem Ltd and Llechwedd Slate Mines. The two companies are already benefiting from their participation in one of the Global Academy’s major projects, The Prince of Wales Innovation Scholarships (POWIS) a leading edge £11.4million initiative bringing the private sector in Wales together with higher education and bright young graduates from across the globe. Both companies have POWIS scholars in placements working with them to enhance their innovative capacity. Steve Kelly CEO of SmartKem Ltd commented:
“Initiatives such as POWIS are valuable to small and medium enterprises (SMEs) in the technology sector. For SmartKem, finding a suitable scholar wasn’t the only attraction of the scheme. An additional benefit was the support system provided by the participating University and the wider POWIS team.”
In light of the still fragile economic climate, the POWIS initiative has the potential to play a big role in buttressing SMEs in the early years of their formation.
Not only do POWIS-participant companies receive research and development support, but they also receive access to numerous other benefits like the innovation and entrepreneurship residential programmes run by the University of Wales Global Academy and courses run by some of the world’s leading thinkers such as the MIT Sloan School. Every POWIS company or scholar is also part of the Global Academy innovation network which provides free membership to the MIT Industrial Liaison Program, a valuable resource for businesses which normally costs $60k per annum.
Heritage Minister, Alun Ffred Jones AM, said:
“The Global Academy, together with the POWIS programme, is a unique example of a partnership between globally distinguished academic institutions and the private sector in Wales that serves to drive innovation in the Welsh economy. The development of the POWIS scheme is particularly timely in the context of the emphasis placed on research and development in the private sector by the Welsh Assembly Government’s Economic Renewal Programme (ERP).”
Vice-Chancellor of the University of Wales, Professor Marc Clement, added:
“The University of Wales is delighted to be opening a North Wales Global Academy office, to add to its existing bases in Cardiff and Swansea. There are already two exciting POWIS projects running in North Wales, and the Innovation Fellow who will be working here in Caernarfon will be concentrating on developing suitable research and development programmes with more businesses in the area. Now that the Global Academy’s supporting Fellow is established here we look forward to placing many more POWIS scholars in North Wales.”
/Ends
Notes to Editors:
A family-owned company since 1836, Llechwedd Slate Mines based in Blaenau Ffestiniog is hoping to develop an economically and environmentally sustainable new business model marketing and transporting waste slate as a secondary aggregate material. They aim to sell waste slate as a high-quality building product, particularly well-suited for use as building blocks or material used to support railway tracks.
SmartKem Ltd, based in Optic Technium at St. Asaph is an exciting new enterprise developing novel ‘smart’ chemistry and laser patterning technology for the Printable Electronics Industry. Formed in 2009, SmartKem’s key objective is to respond to global demand for low cost, low weight, rugged and flexible electronics. The company’s overall vision is to develop IP-protected solutions that enable Printable Electronics to realise its full market potential in applications as diverse as ultra thin electronic displays, lightweight solar panels, electronic skin patches and intelligent packaging.
The University of Wales Global Academy has specifically designed POWIS to bring the private sector together with bright graduates from around the world and academic expertise from both within Wales and around the globe.
Launched in 2009 by HRH The Prince of Wales, the POWIS scheme, which is part funded by the European Regional Development Fund, and investment from the University of Wales itself, has an £11.4M budget with which to encourage Welsh companies to undertake collaborative R&D innovation projects.
For more information about the Global Academy please email: global.academy@wales.ac.uk or visit: www.globalacademy.org.uk/|
For more information on The University of Wales please visit: www.wales.ac.uk|
For press and media information, please contact Tom Barrett, Communications Officer, University of Wales: t.barrett@wales.ac.uk