The speed with which Wales can attract inward investment and deliver high-tech developments is down to its compactness and the resulting intensive network of contacts, First Minister Rhodri Morgan told an international SPIE conference of professionals from the optics and photonics sector.
Members of SPIE conduct research and apply discoveries to the design and development of a wide range of technologies, including robotics, medical imaging, biometric security, battlefield technologies, communications and astronomy.
Addressing the 600 SPIE members, Mr Morgan said: "We have people with the skills who are able to build close relationships, enabling us to cut red tape. That means we're good at constructing networks and we can get things decided fast, which helps hugely in the highly competitive world of inward investment.”
He added "We are rolling out our unique Technium network, a series of centres throughout Wales that provide incubation and in-house technological and business support services, which are closely linked to academic centres.” The First Minister added: "Knowledge and innovation are among the main priorities of the new European Convergence programmes. Around £50m will be invested in two new Knowledge Exploitation and Technology Transfer projects. These will help Welsh businesses benefit from innovation in our universities, turning cutting-edge ideas into commercially viable products and equipping key academic staff with commercial and innovative skills."
Further information:High Tech Optical DevelopmentsHigher Education Funding Council for Wales (HEFCW)