17 Feb 2017

A new £5m fund to help deliver better services and generate savings in the Welsh public sector has been launched today by Finance Secretary Mark Drakeford.

The Innovate to Save fund is a unique partnership between the Welsh Government and Y Lab - itself a partnership between Cardiff University and the innovation charity Nesta - and will work closely with WCVA.

The new fund will provide repayable and non-repayable funding and non-financial support to Welsh public services and the third sector. Non-repayable funding will support organisations to prototype, test and develop complex and innovative changes to the way services are delivered.

All areas of the Welsh public and third sectors will be able to apply for Innovate to Save funding. Organisations submitting proposals will also be able to draw on the resources and experience of Nesta and Cardiff University to expand the scope of projects.

The new fund will operate alongside the successful Invest to Save fund, which has been operating since 2009 and has supported 160 projects. In addition to the £5m Innovate to Save fund, £15m will be available through Invest to Save in 2017-18.

Professor Drakeford said: 'At a time of reducing budgets, change is a necessity not a choice. More scarce resources and growing demand means all public services must think and work differently, if we are to continue to provide the level of services people need.

'Our new £5m Innovate to Save fund has been developed in partnership with Y Lab and we hope to see a range of projects coming forward from across the Welsh public and third sectors. The savings generated will not only be re-invested in services but will improve outcomes for people and will be able to be rolled out more widely.'

For more information contact Social Investment Cymru on:

Email: sic@wcva.org.uk

Telephone: 0800 2888 329