Business scholarships for graduates - graduate jobs

Graduates are being offered £25,000 scholarships by the University of Wales to help generate an innovation-based knowledge economy.

They will work with Welsh businesses to create products, patents or services while seeing first-hand how their ideas can produce commercially viable results.

The scholarships - an annual £20,000 salary and £5,000 research grant - will be provided under the Prince of Wales Innovation Scholarships programme.

Graduates will undertake three-year placements with local businesses, and each scholarship will lead to a University of Wales doctorate.

The aim is to help improve businesses' access to research and development and cutting-edge thinking, and focus on innovation and commercialisation within the businesses themselves.

The initiative is being driven by university vice-chancellor Marc Clement using core university funds plus £5 million in European Regional Development Fund grants.

He has been inspired by Welsh venture capitalist Michael Moritz, who points out that the founders of some of the most successful companies are younger than 26 with backgrounds in science, technology or medicine.