Technology, research and development

Welsh Government Innovation Vouchers

Welsh Government Innovation Vouchers of up to £25,000 are available to help SMEs with all aspects of research and development of innovative products, including intellectual property costs. 

SMARTCymru Research and Development Funding

The Welsh Government can provide grant support for larger research and development projects from the feasibility stage through to launching new products and processes into the market place.

Tax reliefs

Generous tax reliefs for R & D expenditure are available from HM Revenues and Customs.

Alternatively, tax credits are available for those businesses not anticipating to make a profit in the short run.

HM Customs and Revenue Patent Box enables companies to apply a lower rate of Corporation Tax to profits earned after 1 April 2013 from its patented inventions and certain other innovations.  


Universities can provide considerable help to businesses engaging in research and development activities.

Newport is home to the University of South Wales which works with local businesses on research and development

Further information available from Business Wales. 

USW Exchange

USW Exchange is the front door for business engagement at the University of South Wales. Our team of Engagement Managers primed to support a range of business challenges by harnessing the talent, expertise and facilities of the University of South Wales.

Development Bank of Wales

Development Bank of Wales can invest in start-up, early stage or established companies looking to develop and exploit technology.

Wales Technology Seed Fund

The Wales Technology Seed Fund invests in disruptive technology start ups, university spinouts and IP rich businesses moving towards commercialisation. Equity of between £50,000 and £150,000 can be provided. This fund is managed by Development Bank of Wales.