Finance Secretary Mark Drakeford has today announced £5.3 million for 2 schemes to help Wales’ advanced manufacturing workforce keep pace with global advances in innovation and technology.
The EU funding will support more than 800 people through the Up-skilling for Industry 4.0 project and International Innovation Masters scheme led by the University of Wales Trinity Saint David.
The £3.7 million Up-skilling for Industry 4.0 project, which is supported by £2.3 million of EU funding, will provide accredited qualifications to around 430 employees in Welsh industry, particularly within the advanced manufacturing sector.
It will support participants to understand and engage with rapid technological change and help drive business growth.
The £4.3 million International Innovation Masters scheme, which is backed by £3m of EU funding, will provide post-graduate training to around 390 employees from across Wales’s manufacturing sector. The training will help professionals understand the importance of innovation in a dynamic international context.
Finance Secretary Mark Drakeford said:
“Innovation has become increasingly vital for business competitiveness and Wales must continue to respond to technological change and adapt its processes to compete successfully on a global scale.
“I am pleased that EU funds are being invested to help up-skill our advanced manufacturing workforce to meet these technological challenges and opportunities head on.
“This investment will help people to pursue successful, rewarding careers and drive forward business innovation, growth and jobs.”
Professor Medwin Hughes, Vice-Chancellor of University of Wales Trinity Saint David, added:
“The university has a strong track-record of working with employers in the manufacturing sector to up-skill and train their workforce for today’s rapidly changing global environment.
“We play a key role in securing the sustainability of Wales’s manufacturing industry by providing a pipeline of industry-ready graduates and by sharing our expertise in order to challenge concepts and discover new ways of working to our mutual benefit.
“Today’s funding announcement will help us to develop our work with the manufacturing sector in Wales so that it is ready to harness the opportunities that such technological advancements as Industry 4.0 can provide for competitive advantage.”