Ynys Môn science park gets £2.5m from Welsh Government to support innovation
Minister for the Economy Vaughan Gething MS has announced £2.5 million in Welsh Government funding for the M-SParc science park on Ynys Môn.
The funding will go towards an ambitious second building for Wales’ first dedicated science park which opened five years ago in.
The new investment is the first step towards developing a facility focused on low and zero carbon innovation and ensuring more companies are able to access office and laboratory space including a full suite of dedicated business support services.
In January 2021 M-SParc launched a campaign to encourage talented local people to come back to north Wales to live and work.
In partnership with Bangor University, Menter Môn and the North Wales Ambition Board, the science park encouraged people to return to their roots and to contribute to its economy
Companies at M-SParc pay salaries of over £5,000 per year more than the Wales average and well-paid careers created in the region include roles in technical support, research, marketing, accounting, admin support and other areas.
Mr Gething said he was delighted to see innovation thriving at the parc and that the Welsh Government is pleased to support the development of M-SParc 2.0.
“With this funding, M-SParc can expand further, create careers, and provide support to the companies based at M-Sparc. (It) is hub for innovation and entrepreneurship under one roof,” he said.
Mr Gething also discussed the value of the connection that has been established between M-SParc and the Massachusetts Institute of Technology (MIT), one of the world’s top research and academic institutions.
Due to Welsh Government backing, M-SParc has been able to take tenant companies over to MIT to share knowledge and develop international connections.
Many of those companies are continuing to work with MIT on various projects and programs, in sectors including Artificial Intelligence.
Pryderi ap Rhisiart, Managing Director of M-SParc said: “We are so pleased to be able to access this collaboration, which is and incredible opportunity for our tenants. All together, these latest announcements really contribute to our work of igniting ambition in the region, and to do this collaboratively is fantastic.
“It’s what makes M-SParc the place that it is—the home of innovation and opportunities. We cannot wait to see ourselves and our tenants grow as we expand on site too.”
Pro-Vice-Chancellor for Research at Bangor University, Paul Spencer said, “The University’s global reputation for research and innovation provides an opportunity to attract low-carbon businesses to our Science Park – M-SParc.”
Crucially, added Mr Spencer: “The development of the site will stimulate demand, fulfilling the long-term goal of cultivating a thriving business and research community that will benefit the entire region.
“The Science Park’s growth plans are a positive step in providing a platform to further showcase the expertise and talents in the area whilst demonstrating a strong commitment to the economy of North Wales.”
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