Finance

Innovate UK is the new name for the Technology Strategy Board. They fund, support and connect innovative businesses to accelerate sustainable economic growth. Innovate UK's responsibilities include providing new support for innovative small and medium-sized enterprises (SMEs) with high-growth potential and identifying and investing in the sectors that have the greatest potential for innovation to speed up economic growth.

Wellcome Trust provide more than £700 million a year to support bright minds in science, the humanities and the social sciences, as well as education, public engagement and the application of research to medicine. Wellcome Trust offers a wide variety of funding schemes to support individual researchers, teams, resources, seed ideas and places.

Development Bank of Wales makes commercial investments in small and medium-sized businesses (SMEs) based in Wales or willing to relocate. They can invest from £1,000 to £2 million at a time in SMEs based throughout Wales from a number of investment funds and can invest up to a total of £5 million in one SME. Whether you’re starting a business, at an early stage, seeking expansion or looking to buy into a business, Development Bank of Wales can help.

The resources for Wales are provided to the Wales Office following a vote by the UK Parliament. The Secretary of State for Wales retains funding for the Wales Office’s operations and the balance is transferred to Wales. Funding is allocated to the Welsh Government, Assembly Commission, the Wales Audit Office and the Public Services Ombudsman by the National Assembly for Wales.

EU investment of nearly £2 billion is available to Wales for 2014-2020, which will support economic growth and jobs through research and innovation, business finance, ICT and Transport connectivity, energy, and helping people into work and training.

Health and Care Research Wales is a national, multi-faceted, virtual organisation funded and overseen by the Welsh Government’s Division for Social Care and Health Research. It provides an infrastructure to support and increase capacity in research and development, runs a range of responsive funding schemes and manages the NHS R&D funding allocation.

NIHR's funding goes to the best research studies that have been shaped by the leading academics and clinicians of the nation. Funding decisions, assessed on the basis of the importance of the research question, the quality of the science, and value for money, are made by independent, expert panels and committees and include patient and public representatives.