FUNDING has been confirmed for projects in the ReNewport report from the Welsh Government, according to the taskforce's chairman.
Simon Gibson told a packed lecture theatre in the University of South Wales Newport city campus that Edwina Hart, economics minister, had confirmed the cash in a letter to him.
He was speaking at the Newport City Summit, called to discuss the opportunities for the city in a packed year of events and regeneration projects.
It is not yet fully clear which projects will get funding, or how much money will be available, however Mr Gibson said funding for a first phase of an evaluation for a software university in Newport had been indicated.
He told delegates: "Yesterday I received a letter from the economics minister Mrs Hart to confirm various funding levels for projects in the [ReNewport] report."
Council leader Councillor Bob Bright, told delegates that with key projects under way "the face of Newport is really changing".
Paraphrasing JFK he said: "Ask not what Newport can do for you but what you can do for Newport".
Meanwhile Ian Edwards, chief operating officer of the Celtic Manor Resort, said NATO in 2014 was a "once in a lifetime summit".
He urged Newport city council and the Welsh Government to work together to establish outreach programmes for the thousands of delegates and journalists set to come to South Wales.
"It's ours for the losing if we don't make the most of this," he said.