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Osborne announces 75 mln USD science innovation center for Wales

Xinhua, January 8, 2016 Adjust font size:

A new national innovation center focussing on compound semiconductors is to be built in Wales, British Chancellor George Osborne announced Thursday.

Backed by British Treasury funding of 75 million U.S. dollars, the center will attract vital investment and jobs to Wales, said a Treasury spokesman.

On a visit to Cardiff University in Wales' capital city, Osborne announced plans to put science and innovation at the heart of economic growth with the creation of a new "Compound Semiconductor Applications Catapult". It will be funded by 15 million U.S. dollars per year of government investment up to 2021.

The new catapult center will be based in Wales, with the specific location and founding members to be confirmed later.

Chancellor Osborne said: "Backing cutting edge science and innovation is at the heart of our long term plan to support Welsh people. That is why I am today announcing 50 million pounds of new funding for a national semiconductor innovation center, to bring together leading scientists and businesses to one hub in Wales."

Government Universities and Science Minister, Jo Johnson added: "This new Compound Semiconductor Applications Catapult recognises Wales' reputation as a leader in advanced electronics. Bringing together academics and businesses to develop new technologies will support areas of our daily lives from the next generation 5G mobile network to improving scanning at airport security." Endit