"The scheme is about businesses working together to overcome issues and identify areas where funding can be used to benefit agricultural businesses and consumers."
Menter a Busnes will undertake the management of the European Innovation Partnership (EIP) project in Wales, which provides funding to encourage and develop innovation within the agricultural and forestry sectors.
The contract win, which creates one new job at the company, comes after the Menter a Busnes team worked on the pilot scheme for 18 months.
And after the company worked with a number of Welsh groups to develop their ideas that could bring benefits to their businesses, the entire management of the EIP was awarded to Menter a Busnes.
The EIP, which has up to £40,000 of funding per project (maximum of 45 projects), encourages businesses to get together and discuss issues in their sector, before applying for help at which stage Menter a Busnes will support them through the process.
The scheme will run until 2023, and projects can run for up to three years.
Lynfa Davies, knowledge exchange manager (Farming Connect) at Menter a Busnes, said: “We’re looking forward to delivering this exciting project in full across Wales.
“We will be able to simplify and speed up the application process so that groups can concentrate on their projects and get the results out to the industry faster.
“The scheme is about businesses working together to overcome issues and identify areas where funding can be used to benefit agricultural businesses and consumers.
“If you know of a new technology that’s been developed but is not widely available but you think it may have a place in your business then let us know. Also, if you have a problem or issue within your business but don’t know how to solve it, bring that to us and we may be able to structure a project that finds the solution.
“We’re on the lookout for projects that will improve efficiency not only in one business but across the sector, and urge anyone in the agricultural industry to come and share ideas with us.”
Menter a Busnes is an independent economic development company which provides support and advice to help grow businesses in Wales.
The firm provides support in a range of sectors including food and drink, veterinary services and fisheries.
To find out more visit www.menterabusnes.co.uk.