The European Regional Development Fund (ERDF) aims to strengthen economic and social cohesion in the European Union by correcting imbalances between its regions. The ERDF focuses its investments on several key priority areas. This is known as 'thematic concentration'. The key priority areas are:

- Innovation and research
- The digital agenda
- Support for small and medium-sized enterprises (SMEs)
- The low-carbon economy

Woodard applied for, and received, funding to develop a failure prediction systematic for power electronics. ERDF funding will supplement Woodward’s development costs through 2020.

 You can learn more about the ERDF here.