Presentation of the Region
Wales is one of the four nations of the United Kingdom, with a population of 3.13 million. The Welsh Government has responsibility for economic development and other devolved policy areas.
Our vision for economic growth and prosperity is Prosperity for All , the national strategy to deliver key priorities for the rest of this Assembly term (2026).
Our International Strategy sets out Wales’ approach to international engagement, including an emphasis on co-operation with other European regions in areas of shared interest, like research and innovation. The EU-UK Trade and Co-operation Agreement (TCA) provides a framework for our engagement with the EU, including the UK’s association to the Horizon Europe programme.
Wales supports the ‘Learn’, ‘Connect’, ‘Demonstrate’, and ‘Commercialise’ ethos of the Vanguard Initiative. We will positively engage with the European networks and pilot projects with the aim of increasing collaborative activity to support leading-edge innovation projects.
RIS3 Priorities
Wales was an early adopter of Smart Specialisation, back in 2013. We have now published Wales Innovates and an accompanying Delivery Plan as our Smart Specialisation blueprint. The Vanguard Initiative’s key principles align with Wales Innovates, in that whilst we need to support innovation across all areas of our education, economy, healthcare and environment, key investments should be made in our strategic priorities, founded on Wales’ national and international industrial strengths.
We have an active and innovative business community with a strong research and innovation eco-system, including internationally recognised universities and research & technology centres, and our own health service. Industry collaboration with public sector partners helps set the ambition and direction to drive sustainable growth of a resilient and adaptable economy.
Wales has a proud industrial heritage dating back to the Industrial Revolution, particularly in coal, iron & steel production. In the 21st Century, Wales is looking to re-invent itself by future-proofing our existing businesses through building the infrastructure to support the industries of the digital age. The development of Europe’s first industrial cluster in Compound Semiconductors, which will be European in scale but global in reach is a key example of our Smart Specialisation in action.
