Welsh Government
Business Support Packages
In Wales we now have a full range of funding mechanisms, programmes and
infrastructure to support businesses to grow, pursue R&D opportunities, develop
international trade links, and capture and retain the value of any commercial activity in Wales.
“Wales has a fresh vision for the Life Sciences Sector and our focus is now clearly on
business growth and commercial success.”
Funding Mechanisms for Business Development in Life Sciences
1. Finance Options
Life Sciences Wales Investment Fund – announced March 2012
l The Life Sciences Investment Fund is a dedicated equity fund,
making equity and mezzanine investments into innovative Welsh
life sciences businesses. The Fund will invest into businesses at
all stages of growth, including seed capital funding.
l The Fund has a target size of £100 million and will be operated
on a commercial basis with a dedicated investment panel and
fund management team - experienced life sciences investors with
a proven track record of success at an UK and global level.
3. Business Innovation Support
l Innovation, R&D and new product development advice.
l Manufacturing and design advice.
l Innovation Vouchers - funding for third-party consultancy for
product development and process management.
l Support available from technical feasibility through to
commercialisation stage.
l Funding is available for Research, Development and Innovation
clinical trials for phase 0 (first into human) and phase 1 (up to 80
patients) subject to a financial cap.
l It is anticipated that first investments will be made this year. l Funding to support academic collaboration opportunities.
Business Finance
4. Skills and Employee Development
l This finance option is available for growth capital projects and
to aid job creation as well as for projects involving research,
development and innovation.
l Workforce Development Programme and Skills Growth Wales
schemes provide advice from HR development advisers and
funding towards some employee training costs.
2. Trade and Export Development
l International Trade Development (ITD) - consultancy support
is available to help new exporters develop export capabilities,
which is free of charge to businesses.
l International Trade Opportunities (ITO) - support is available
from in-market contractors to identify opportunities and
potential overseas customers for companies who are exportready or targeting new customers - businesses pay 25% of the
project costs (75% subsidy provided by Welsh Government).
l Trade Missions - organised support for exhibitor stands within a
Wales group area at selected overseas trade exhibitions.
5. ICT and eBusiness support
l The ICT Diagnostic Service - a systems healthcheck, where an
expert provides recommendations for improvement at no cost to
the client.
l eBusiness support – subsidised support to identify and projectmanage ICT solutions.
The business development team from the life sciences
sector can guide and support companies in accessing
the relevant support.
For further information please contact the Life Sciences Team in the Business, Enterprise,
Technology and Science (BETS) department:
tel: 03000 603000 or email : lifesciences@wales.gsi.gov.uk