21st February 2018

Second phase of Innovate to Save fund launched

A second phase of the Welsh Government’s £5m Innovate to Save fund to help support public and third sector organisations deliver services in Wales has been launched by Cabinet Secretary for Finance, Mark Drakeford.

Applications are open for grants of up to £15,000, for organisations to test an idea that could improve services for citizens and make savings. Throughout the research and development phase, projects will receive support from Nesta and Cardiff University (through the Y Lab arrangement), and the Wales Council for Voluntary Action. There is then an opportunity to apply for loan funding to implement the idea.

Organisations submitting proposals will also be able to draw on the resources and experience of Nesta and Cardiff University to expand the scope of their projects. The deadline for applications is 1st July 2018.

The Finance Secretary stated that in launching a second funding round, he wanted to continue the momentum and build on the innovative ideas and proposals which were put forward last year.

Mark Drakeford said:

“All parts of the Welsh public and third sectors are eligible to apply for Innovate to Save funding. Last year, a wide range of proposals, from the effectiveness of social prescribing to looking at new ways to assist communities threatened by coastal flooding and long-term decline, were put forward.

“We hope to see a similarly wide range of proposals coming forward this year, which will generate cash-releasing savings which can then be re-invested in services and improve outcomes for people, including their quality of life.”

Rob Ashelford, Head of Y Lab Programmes, said:

“Giving people the time and space to experiment with new ideas for public services is more important than ever before. Innovate to Save helps organisations test, evaluate and implement projects that have the potential to improve services and generate savings. We are pleased to offer a new opportunity to apply to the programme and support more innovative projects in Wales.”

Professor Rick Delbridge, Academic Director at Y Lab, said

“We are very pleased to have the opportunity to extend the number of participants in the Innovate to Save programme. The Y Lab partnership combines the innovation expertise of Nesta with the academic research of the University in ways that encourage and support innovative and effective projects which can really make a difference.”