News (from Edinburgh Research and Innovation)

Economy boosted by the University’s commercialisation success

  • 25 March 2012

A new report by independent consultancy BiGGAR Economics shows that the University of Edinburgh’s commercialisation activities contribute more than £140 million to the Scottish economy per year.

A new report by independent consultancy BiGGAR Economics shows that the University of Edinburgh’s commercialisation activities contribute more than £140 million to the Scottish economy per year.

The report, which was commissioned by Edinburgh Research and Innovation (ERI), the university’s commercialisation arm, looked into the economic impact of the major commercialisation activities, such as forming new companies and licensing university technology.

The report’s findings also showed that the combined impact of licencing activity and new company formation supports over 2,400 jobs in the Scottish economy.

Creating sustainable new enterprises 

Of the 262 spinout and start-up companies formed by the University since the 1960s, 84% remain active today. Of these, 190 are located in Scotland, employing an estimated 2,180 staff in industries including electronics, bio-technology, engineering and tourism.

In the three years to 2010-2011, ERI supported the formation of over 100 new businesses, making it the best-performing university commercialisation department in the UK.

New companies created in the past year include award-winning start-up company, Speech Graphics, which develops software that delivers cost-saving lip synchronisation for animated characters in the video game industry.

On the publication of the report, Derek Waddell, Chief Executive, Edinburgh Research and Innovation, said: "This study strongly indicates the hugely important economic role that the University of Edinburgh plays within Scotland. Our work to create and foster new companies is vital in encouraging entrepreneurship and helps innovative firms to develop and grow."

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