'Innovation wouldn't be possible if not for research fund support'

'Innovation wouldn't be possible if not for research fund support'. Check it out:
(Western Mail Via Thomson Dialog NewsEdge) An Assembly initiative aimed at supporting research and development has invested pounds 12.6m in companies since being launched three years ago.

SMARTCymru is a Welsh Assembly Government programme helping Welsh small and medium-sized businesses and individuals to undertake research to develop new technology, products and processes.

It was created in 2003 as part of a concerted campaign to increase investment into R&D and to help firms come up with ideas for new processes and technologies.

Yesterday the Assembly said the fund had also triggered more than pounds 13m of additional private sector investment.

About 227 projects have been supported within key sectors, ranging from software, biotechnology, optoelectronics, engineering and manufacturing, to medical, petrochemicals, electronics and the environment.

One beneficiary of the initiative is Consort Precision Diamond, based in Conwy.

Consort received financial and mentoring support to develop quality rotary diamond dressers for a range of industries.

The company produces a diamond cutting tool that allows specialist manufacturers to cut intricate and specialist components - such as turbine blades for the aerospace sector.

With the help of SMARTCymru, Consort has become a worldwide leader in diamond dressing and is highly regarded for its engineering and innovation excellence.

Its managing director David Morris, said, 'Not only have we been helped by SMARTCymru financially, we have also been offered mentoring support and received invaluable advice from International Business Wales, the exporting arm of the Welsh Assembly Government.



'Our export level is now almost 70% of our output and we are proud to be a Welsh company, having established ourselves as suppliers in the global market of prime and sub-contract component manufacturers [and] earning the respect of both our customers and our competitors.'

Meanwhile, Haemair, based at Technium Digital, Swansea, received a grant to develop a next generation portable, artificial lung that could save the NHS millions of pounds.

Its managing director, Bill Johns said, 'Our innovation simply would not have been possible were it not for the way in which SMARTCymru supported our pioneering work in developing the most up-to-date artificial lung, that could help save thousands of lives in the future. SMARTCymru helped us double our research team and has also offered mentoring support along the way that has greatly helped us with the work we are doing.'

Andrew Davies, Minister For Enterprise, Innovation And Networks, said good quality research and development was critical to ensuring success in today's competitive global marketplace.

He said, 'The creation of new ideas and processes through R&D is more about constant evolution than a one-off process. The Assembly Government's SMARTCymru is geared not just to providing financial support to help companies take ideas forward, but, through mentoring, it helps them realise the benefits of continual development and, in turn, increased sales, investment and employment.'

SMARTCymru also

supports non-SMEs, where the project is of significant benefit to Wales and the technology involved impacts on several other industry sectors.

Copyright 2006 . Western Mail & Echo Ltd
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