Universities in Wales face more than 1,000 skilled jobs being lost because of the withdrawal of EU structural funds, with leaders saying that the replacement finance promised by ministers will not match the lost support. Since 2014 Welsh universities have received about £370m in research projects from EU structural funds but, after the UK’s withdrawal, its support for 60 ongoing projects will end this year. Prof Paul Boyle, vice-chancellor of Swansea University and chair of the Universities Wales research and innovation network, told MPs that the projects and the jobs could be saved with an urgent injection of £71m in bridging finance to keep them running. “Stepping back from the cliff edge would save hundreds of jobs, support a range of cutting-edge innovation projects that are driving economic growth, and provide direct investment in areas that the UK government has stated are at the heart of its own levelling up ambitions,” Boyle said. “In an increasingly competitive global marketplace, we risk failing to exploit one of this country’s most enduring and internationally recognised strengths.” One example, funded through the European structural and investment fund, is Swansea University’s Specific project, which aims to create buildings that can store and release heat and electricity from solar energy, including through printable solar cells and material that can store summer heat for use in winter. The project has created seven spin-off companies, and works with hundreds of private sector partners. Geraint Davies, the Labour MP for Swansea West, said: “These projects are important to our UK ambition to crank up sustainable economic growth, so their sudden loss would be a big blow to our communities our economy and all our longer-term interests. “That’s why providing immediate bridging funding of just £71m is of such importance.” The payments from the structural fund comes to an end this year, with the Westminster government promising to cover the funding through its £2.6bn UK shared prosperity fund. But delays and uncertainty over distribution means the current projects may be forced to close down before the funding is allocated. Cardiff University said 12 of its projects were due to end this year, and a further five projects already in the process of closing after funding ran out last year, with about 100 jobs at risk. Colin Riordan, Cardiff University’s vice-chancellor, told Research Professional News: “The aim of these projects was to create jobs and stimulate economic activity through innovation, so it’s going to be a big loss not just in terms of the university but also the region.”