It is doing this by working with academics, industry, the NHS, investors and entrepreneurs.

AgorIP’s aim is to transfer innovation and Intellectual Property into existing or new businesses which help create new jobs, and to provide NHS Wales with the capacity and support they need to commercialise specific innovations. The project is based at Swansea University’s School of Management on the Bay Campus and comprises a team of technology transfer staff together with administrators, patent experts and pipeline managers.

AgorIP was launched in late 2016 and has enjoyed enormous success. The team has developed a vibrant pipeline of commercial opportunities having been inundated with inquiries from many sources. It has already been able to support over 100 projects which shows the high levels of innovation taking place across the whole of Wales.

Dr Gerry Ronan, AgorIP Project Director and Head of Intellectual Property at Swansea University: ‘We have established a varied portfolio of projects, over 50% of which have a health and wellbeing outcome, many of which are already attracting significant private sector investment and creating high value, highly skilled jobs. These projects range from digital tools for university students, early stage medical devices, diagnostics and therapeutics for cancer, clean technology, Internet of Things, downhill mountain bikes for disabled users, and many collaborations with NHS Wales Health Boards.

‘The whole AgorIP team is seeking to secure further investment for our portfolio of projects, develop our work with NHS Wales and help drive forward the next wave of innovation in Wales.’

Professor Mark Drakeford, Cabinet Secretary for Finance: ‘This project will support the transformation of research with the potential for commercialisation in universities and health boards. AgorIP is another positive example of how EU funds are helping drive forward new concepts and research to grow our knowledge economy, putting Wales on a global platform.’