£24million of the funding which comes jointly from the European Regional Development Fund and Welsh Government will support the new Accelerate programme which will see Swansea University, Cardiff University and the University of Wales Trinity Saint David come together to speed up the translation of ideas into new technology products and services.
The Accelerate programme, which will run over three years, is being led by the Life Sciences Hub Wales and will bring together clinical, academic and industry expertise to develop and roll out new, innovative products and services within the Welsh health and care system
Professor Keith Lloyd, Head of the Medical School at Swansea University, said the funding would help build on the already strong life science sector – which is worth around £2billion to the Welsh economy.
Professor Lloyd said: “We are delighted to be part of this exciting new Accelerate programme. The Medical School has contributed significantly to the growing life science sector through its Institute of Life Science (ILS) at Singleton campus.