A Plaid Cymru government will take a leading role in providing research funding, we would seek to devolve Wales’s share of UK Research and Innovation expenditure and for a block grant to be allocated based on population.
Wales currently spends around 1 per cent of its GDP on R&D (some £750m per annum). We should set a national goal of doubling that to 2 per cent by 2030, we would increase Government funding for innovation and R&D by £100m by the end of the Senedd term.
Welsh innovation strategy and delivery will be driven by a new National Innovation body.
In addition, we would establish an AI Institute for the Future Economy, including a new Lab for Workplace Innovation, to help position Wales on the global map as a digital nation and facilitate a more integrated approach to the application of leading-edge research on AI across Wales.