Welsh Government payments to the scheme were suspended in January A hi-tech scholarship programme run by the University of Wales (UoW) is to close after ministers decided to withdraw its European funding.
The Prince of Wales Innovation Scheme (Powis) looked to attract top graduates to work on research projects within Welsh firms.
But a review has found "management and governance shortcomings."
Existing contractual commitments to eligible scholars and businesses will be honoured.
The university
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