Welsh lead the way with dragons den for business

A Dragons Den-style competition offering Welsh innovators the opportunity to bid for funding to help them come up with new solutions to some of the trickiest challenges facing the public sector in Wales has received global recognition, Skills and Science Minister, Julie James is pleased to announce.

Backed by over £3m Welsh Government funding and run in collaboration with Innovate UK, the Small Business Research Initiative (SBRI) has gained interest from other UK devolved nations as well as attracting attention from Ireland, Sweden and Australia.

Launched in Wales in 2013, the SBRI offers businesses - many of which are small and medium sized enterprises (SMEs) - the opportunity to bid for research and development (R&D) funding to develop technology-driven solutions for specific challenges facing the public sector.

Run as competitions each challenge focusses on an area of public service where solutions either do not yet exist or where partial solutions might be improved.

Areas where solutions are already being progressed include the improvement of health and patient care, medical treatments, road safety, renewable energy generation and environmental management. 

To date, 14 SBRI competitions have been run in Wales, resulting in 66 contracts valued at approximately £5m being awarded to companies to develop Welsh public sector solutions: 44 contracts at Phase 1 (developing the proposal) and 22 contracts at Phase 2 (creating a prototype with a view to bringing it to market).